McDonalds
McDonald's Corporation is an American fast food company, founded in 1940 as a restaurant operated by Richard and Maurice McDonald, in San Bernardino, California, United States. They rechristened their business as a hamburger stand, and later turned the company into a franchise, with the Golden Arches logo being introduced in 1953 at a location in Phoenix, Arizona. In 1955, Ray Kroc, a businessman, joined the company as a franchise agent and proceeded to purchase the chain from the McDonald brothers. McDonald's had its original headquarters in Oak Brook, Illinois, but moved its global headquarters to Chicago in June 2018.[5][6][7][8]
McDonald's is the world's largest restaurant chain by revenue,[9] serving over 69 million customers daily in over 100 countries[10] across 37,855 outlets as of 2018.[11][12] Although McDonald's is best known for its hamburgers, cheeseburgers and french fries, they also feature chicken products, breakfast items, soft drinks, milkshakes, wraps, and desserts. In response to changing consumer tastes and a negative backlash because of the unhealthiness of their food,[13] the company has added to its menu salads, fish, smoothies, and fruit. The McDonald's Corporation revenues come from the rent, royalties, and fees paid by the franchisees, as well as sales in company-operated restaurants. According to two reports published in 2018, McDonald's is the world's second-largest private employer with 1.7 million employees (behind Walmart with 2.3 million employees)
The siblings Richard and Maurice McDonald opened the first McDonald's at 1398 North E Street at West 14th Street in San Bernardino, California (at 34.1255°N 117.2946°W) on May 15, 1940, but it was not the McDonald's recognizable today; Ray Kroc made changes to the brothers' business to modernize it. The brothers introduced the "Speedee Service System" in 1948, putting into expanded use the principles of the modern fast-food restaurant that their predecessor White Castle had put into practice more than two decades earlier.[citation needed] The original mascot of McDonald's was a chef hat on top of a hamburger who was referred to as "Speedee". In 1962, the Golden Arches replaced Speedee as the universal mascot. The symbol, Ronald McDonald, was introduced in 1965. The clown, Ronald McDonald, appeared in advertising to target their audience of children.
On May 4, 1961, McDonald's first filed for a U.S. trademark on the name "McDonald's" with the description "Drive-In Restaurant Services", which continues to be renewed. By September 13, McDonald's, under the guidance of Ray Kroc, filed for a trademark on a new logo—an overlapping, double-arched "M" symbol. But before the double arches, McDonald's used a single arch for the architecture of their buildings. Although the "Golden Arches" logo appeared in various forms, the present version was not used until November 18, 1968, when the company was favored a U.S. trademark.
The present corporation credits its founding to franchised businessman Ray Kroc in on April 15, 1955. This was in fact the ninth opened McDonald's restaurant overall, although this location was destroyed and rebuilt in 1984. Kroc later purchased the McDonald brothers' equity in the company and begun the company's worldwide reach. Kroc was recorded as being an aggressive business partner, driving the McDonald brothers out of the industry.
Kroc and the McDonald brothers fought for control of the business, as documented in Kroc's autobiography. The San Bernardino restaurant was eventually torn down (1971, according to Juan Pollo) and the site was sold to the Juan Pollo chain in 1976. This area now serves as headquarters for the Juan Pollo chain, and a McDonald's and Route 66 museum.[17] With the expansion of McDonald's into many international markets, the company has become a symbol of globalization and the spread of the American way of life. Its prominence has also made it a frequent topic of public debates about obesity, corporate ethics, and consumer responsibility.
McDonald's restaurants are found in 120 countries and territories around the world and serve 68 million customers each day.[19][20] McDonald's operates 37,855 restaurants worldwide, employing more than 210,000 people as of the end of 2018.[11][12][19] There are currently a total of 2,770 company-owned locations and 35,085 franchised locations, which includes 21,685 locations franchised to conventional franchisees, 7,225 locations licensed to developmental licensees, and 6,175 locations licensed to foreign affiliates.[11][12]
Focusing on its core brand, McDonald's began divesting itself of other chains it had acquired during the 1990s. The company owned a majority stake in Chipotle Mexican Grill until October 2006, when McDonald's fully divested from Chipotle through a stock exchange.[21][22] Until December 2003, it also owned Donatos Pizza, and it owned a small share of Aroma Café from 1999 to 2001. On August 27, 2007, McDonald's sold Boston Market to Sun Capital Partners.[23]
Notably, McDonald's has increased shareholder dividends for 25 consecutive years,[24] making it one of the S&P 500 Dividend Aristocrats.[25][26] The company is ranked 131st on the Fortune 500 of the largest United States corporations by revenue.[27] In October 2012, its monthly sales fell for the first time in nine years.[28] In 2014, its quarterly sales fell for the first time in seventeen years, when its sales dropped for the entirety of 1997.[29]
In the United States, it is reported that drive-throughs account for 70 percent of sales.[30][31] McDonald's closed down 184 restaurants in the United States in 2015, which was 59 more than what they planned to open.[32][33] This move was also the first time McDonald's had a net decrease in the number of locations in the United States since 1970.[33]
The McDonalds on-demand delivery concept, which began in 2017 with a partnership with Uber Eats and added DoorDash in 2019, now accounts for up to 3% of all business as of 2019
The company currently owns all the land, which is valued at an estimated $16 to $18 billion, on which its restaurants are situated.[citation needed] The company earns a significant portion of its revenue from rental payments from franchisees. These rent payments rose 26 percent between 2010 and 2015, accounting for one-fifth of the company's total revenue at the end of the period.[48] In recent times, there have been calls to spin off the company's US holdings into a potential real estate investment trust, but the company announced at its investor conference on November 10, 2015, that this would not happen. The CEO, Steve Easterbrook discussed that pursuing the REIT option would pose too large a risk to the company's business model.[49]
The United Kingdom and Ireland business model is different from the U.S, in that fewer than 30 percent of restaurants are franchised, with the majority under the ownership of the company. McDonald's trains its franchisees and management at Hamburger University located at its Chicago headquarters.[50][51] In other countries, McDonald's restaurants are operated by joint ventures of McDonald's Corporation and other, local entities or governments.[52]
According to Fast Food Nation by Eric Schlosser (2001), nearly one in eight workers in the U.S. have at some time been employed by McDonald's. Employees are encouraged by McDonald's Corp. to maintain their health by singing along to their favorite songs in order to relieve stress, attending church services in order to have a lower blood pressure, and taking two vacations annually in order to reduce risk for myocardial infarction.[53] Fast Food Nation also states that McDonald's is the largest private operator of playgrounds in the U.S., as well as the single largest purchaser of beef, pork, potatoes, and apples. The selection of meats McDonald's uses varies to some extent based on the culture of the host country.[54]
Headquarters
On June 13, 2016, McDonald's confirmed plans to move its global headquarters to Chicago's West Loop neighborhood in the Near West Side. The 608,000-square-foot structure was built on the former site of Harpo Productions (where the Oprah Winfrey Show and several other Harpo productions taped) and opened on June 4, 2018.[5][6]
The McDonald's former headquarters complex, McDonald's Plaza, is located in Oak Brook, Illinois. It sits on the site of the former headquarters and stabling area of Paul Butler, the founder of Oak Brook.[55] McDonald's moved into the Oak Brook facility from an office within the Chicago Loop in 1971.[56]
Board of directors
As of January 2019, the board of directors had the following members:[57]
Enrique Hernandez Jr., non-executive chairman. Also president and CEO of Inter-Con Security
Lloyd H. Dean, president and CEO of Dignity Health
Stephen J. Easterbrook, president and CEO of McDonald's
Robert A. Eckert, operating partner of Friedman Fleischer & Lowe
Margaret H. Georgiadis, CEO of Ancestry.com
Jeanne P. Jackson, CEO of MSP Capital
Richard H. Lenny, non-executive of Conagra Brands, Inc.
John J. Mulligan, executive vice president and COO of Target Corporation
Sheila A. Penrose, non-executive chairman of Jones Lang LaSalle Incorpoated
John W. Rogers Jr., chairman and CEO of Ariel Investments, LLC
Miles D. White, chairman and CEO of Abbott Laboratories
Andrew J. McKenna, chairman emeritus. Also chairman emeritus of Schwarz Supply Source
On March 1, 2015, after being chief brand officer of McDonald's and its former head in the UK and northern Europe, Steve Easterbrook became CEO, succeeding Don Thompson, who stepped down on January 28, 2015.
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