IHOP is an American institution. They make pancakes better than anyone. Yes, the free pancake stack at IHOP is really worth it, because it is delicious. If you are going to go to IHOP, you might as well eat what they are famous for. Their pancake stacks are worth the trip.
The free pancake stack at IHOP is not the only thing people order. It is simply a coupon to your meal for additional food. After coffee, orange juice, eggs, hash browns, and bacon, the free pancake stack is marginal compared to the rest of the consumers bill. IHOP probably makes lots of money off of there promotion annually too.
I do not believe the free pancake stack at IHOP is really worth it. I can buy a box of pancake mix at the store for less than $2. All I have to do is add water and I can make around 100 pancakes at home. That's less than $2 for 100 pancakes and a little bit of my time.
The free pancake day that takes place at the food establishment is nothing but, simply a lot of hype for the place. They may be giving something away for free to the public but, one needs to look at the bottom line. It is drawling a lot of people in that may not come in and they might order more.