More than 75 years ago a company changed the way people eat food, McDonald’s was the company that revolutionized fast food retail and has become the world’s biggest chain of fast food restaurants. Here are ten things that you should know about this world’s favorite fast food restaurant, McDonald’s –
10 Key Things about McDonald’s
1. McDonald’s operates in more than 100 countries across North America, Europe, Latin America, Asia Pacific and Middle East & Africa. Serving approximately 69 million people every day in more than 36,000 restaurants, McDonald’s is the most sought after restaurant for a quick bite of food.
2. The restaurant chain was started in 1940 by brothers Richard and Maurice McDonald in San Bernardino, California. Today, its headquarters are in Oak Brook, Illinois. The iconic ‘Golden Arches’ symbol which is a double arch symbolizing an M with their mascot the clown, Ronald McDonald are the images of McDonald’s worldwide and easily recognizable by everyone. Its first franchise was taken up by Ray Kroc who started a restaurant in 1955 and since then entrepreneurs worldwide have invested in McDonald’s franchises as a profitable means of business.
3. More than 80% of McDonald’s restaurants worldwide are owned and operated by franchisees. In fact, it is one of the top 10 franchises worldwide, as listed by Entrepreneur magazine. It promotes small business owners to whom it gives the support of branding and technical expertise. It also promotes opportunities for women and minorities and has the largest such base in the industry. It is actively searching to expand its base and has even opened stores in Kazakhstan!
4. McDonald’s which runs on a franchise model is now a billion dollar enterprise and has made USD 25.41B in sales in the FY15. The net income has been USD 4.53B, while the earnings per share are USD 4.82. It is listed on the NYSE as MCD and has been trending around USD 120 in the March 2016.
5. It ranks No. 6th on the World’s Most Valuable Brands list by Forbes. It has a brand value of USD 39.5B with a brand revenue of USD 87.8. With its tagline of “I’m loving it”, it has captured the hearts of fast food eaters all over the world. It has always changed the conversation about how a QSR should work and currently has unveiled a new packaging look that will be deployed globally in 2016. The new look is fresh, bold and colorful, signifying the changing times.
6. McDonald’s is creating a seamless buying experience for its customers. It has introduced the mobile payment option with Apple Pay which can be used by more than 14,000 outlets across USA. In keeping with the times it has also introduced online portals for home delivery of food.
7. Today, the consumer wants more variation in menu and the spending patterns on coffee have also increased. Keeping this trend in mind, McDonald’s started a new concept McCafe, where it is working on establishing itself as a leading coffee brand. It started in Australia and New Zealand, though now, it has outlets across the world and even a few standalone cafes. This coffee line brings in more revenue compared to the food line. It has also introduced a variety of fresh menu including salads, sandwiches and fruit shakes.
8. Bringing about innovation in a QSR has much to do with the way restaurants serve their customers. The advent of new technologies helps further this quest to create happy customers. McDonald’s has introduced the ‘Create your taste’ concept which has computerized kiosks, which allowing the customers to make their own burger with their own custom toppings and accompaniments. This concept has started at stores in the top markets and will likely be spread worldwide.
9. McDonald’s hires over 420,000 employees across its stores and offices. Most young people start off their careers working their way through a fast food restaurant and McDonald’s has been the first step in this career journey. It has a unique Hamburger University which trains managers for its facilities and the only QSR to receive college credit recommendations from the American Council on Education. It has done a lot to empower women and minorities and has 45% women/minority franchisees and over 70% of employees are women and minorities. It is also a ‘Great Place to Work’ in more than 30 countries.
10. A company that thrives on the community also gives back to the community and McDonald’s is working hard towards creating a better community. It has included 30% more fresh fruits, vegetables and whole grains in its menu in 2014 as compared to 2012 in its goal of achieving nutritious food by 2020. It has also lead and contributed to the Global Roundtable for Sustainable Beef. While promising to turn more energy efficient, McDonald’s has saved more than USD 14.2 M in energy costs in 2014. It also gives to the community in the form of food and more than 5.7 million children and their families were served by the Ronald McDonald House Charities.