McDonald’s announce plans to update franchising standards

(NBC, KYMA) - McDonald's has announced plans to update its franchising standards.

According to memos obtained by CNBC, starting January 1, franchisees worldwide are expected to be assessed on how their prices deliver value.

The effort comes as the company seeks to win over cash-strapped diners who have been visiting its restaurants less frequently.

Franchising standards are policies that define how McDonald's operators should run their restaurants, and the memo explained the company's goal is to "ensure every restaurant delivers consistent, reliable value across the full customer experience."

McDonald's has also invested in tools to help franchisees determine how to address value in their local markets.

Franchisees run about 95% of McDonald's restaurants worldwide and set their restaurants' prices. However, under the new standard the company will "holistically assess" pricing decisions for how well they offer value.