McDonald’s Corporation is the world’s biggest chain of hamburger junk food restaurants, serving over 58 million customers daily. Their restaurants are run by either a franchise, an affiliate, or the corporation itself. The revenue of the company comes from the lease, royalties, and fees paid by the franchises, in addition to sales in company ran restaurants. McDonald’s profits grew 27% over the 3 years ending in 2007 to $22. 8 billion, and 9% growth in operating earnings to $3. 9 billion.
Sibling Richard and Maurice McDonald opened their first dining establishment in San Bernardino, California in 1940.
In 1954, Ray Kroc, a seller of multimixer milkshake machines, he learned that the McDonald brothers were using eight of his multimixer milkshake makers in their dining establishments. Kroc went and saw them and accepted franchise their dining establishments for them. After he opened his very first restaurant he looked for franchisees for his McDonald’s chains. The very first 3 years were sluggish, but by 1959 Kroc had opened 101 restaurants.
Kroc bought out the McDonald’s brothers for 2.
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.