All true. BUT if you are looking for cheap and fast, the family owned places aren't even an option.
If you want a real sit-down meal then the mom & pop places are definitely your go-to. Absolutely higher quality - but you pay for it, in both time and $$.
If what you really need is a cheap, quick, drive-through meal, then the big franchises like BK and Wendy's, and McD's are your best and only choice.
For the cost, in both time and money, the big franchises are generally a decent value, and they deliver that value FAST (as in FAST FOOD). You can also generally count on the product and the price being pretty consistent from one location to another. Even if the quality is mediocre, it at least still consistent.
If you have the time and money to wait and pay for something better, you can get something better, but if you need it cheap and fast, you get what you pay for at the fast food joints.