Posted: December 14th, 2019
Description of McDonald’s Essay
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McDonald’s Corporation is the world’s largest chain of hamburger fast food restaurants, serving over 58 million customers daily. Their restaurants are operated by either a franchise, an affiliate, or the corporation itself. The revenue of the company comes from the rent, royalties, and fees paid by the franchises, as well as sales in company operated restaurants. McDonald’s revenues grew 27% over the three years ending in 2007 to $22. 8 billion, and 9% growth in operating income to $3. 9 billion.
Brother Richard and Maurice McDonald opened their first restaurant in San Bernardino, California in 1940.
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In 1954, Ray Kroc, a seller of multimixer milkshake machines, he learned that the McDonald brothers were using eight of his multimixer milkshake machines in their restaurants. Kroc went and saw them and agreed to franchise their restaurants for them. After he opened his first restaurant he sought franchisees for his McDonald’s chains. The first three years were slow, but by 1959 Kroc had opened 101 restaurants.
Kroc bought out the McDonald’s brothers for 2.
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7 million in 1961. By 1976, McDonald’s had served 20 billion hamburgers, and systemwide sales exceeded $3 billion. McDonalds restaurants are located in 119 countries around the world. The menu consist of various types of hamburgers and chicken sandwiches, french fries, fish sandwiches, desserts, soft drinks, milkshakes, various types of coffee, and a variety of breakfast items. McDonalds is the largest fast food chain in the country, and continues to grow larger.
