The McDonald’s Corporation is one of the world’s leading restaurant chains, with more than 34,000 locations and operations in 119 countries. The company is headquartered in Oak Brook, Illinois, USA.
McDonald’s began in 1940 as a barbecue restaurant owned by brothers Richard and Maurice McDonald in San Bernardino, California.
It wasn’t until 1948 that the brothers changed the business into a hamburger stand and adopted the production line principle – “Speedee Service System”.
In 1954 Multi-Mixer salesman Ray Kroc visited McDonald’s and was fascinated by the operation. He offered to help the brothers expand operations to other parts of the country.
In 1965 the company celebrated its 10th anniversary and had over 700 McDonald’s restaurants in the US. That same year the corporation went public – at $22.50 per share.
Two years later (in 1967) the company went international – opening restaurants in Canada and Puerto Rico.
McDonald restaurants are operated by the corporation itself, a franchisee, or an affiliate. Over 57% are conventional franchisees, nearly 24% are licensed to foreign affiliates or developmental licensees, and 19% are company-operated.
The restaurants sell burgers, french fries, breakfast items, milkshakes, deserts, salads, wraps, fruit, and smoothies.
According to McDonald’s, the company’s goal is to “become customers’ favorite place and way to eat and drink by serving core favorites such as our World Famous Fries, Big Mac, Quarter Pounder and Chicken McNuggets.”