Ask anyone about fast food, and they’re likely to mention McDonald’s. From humble beginnings, the home of the Big Mac has grown to over 35,000 restaurants worldwide – serving nearly 70 million customers every day.
Since its inception, McDonald’s has become the leading global fast-food chain in less than 100 years of existence. However, how much do you know about the chain and its founders?
In 1955, businessman Kroc took over McDonald’s from the original owners, the McDonald brothers. After purchasing the exclusive brand rights for $2.7 million, he formed the McDonald’s Corporation.
But who were the McDonald brothers? They were two American entrepreneurs who revolutionized the fast-food industry. The brothers created the “Speedie Service System” in 1937 and opened the first McDonald’s location in Illinois, USA, in 1955.
Ray Kroc’s net worth grew to an impressive $600 million by the time of his death in 1984. However, Kroc’s partnership with the McDonald brothers did not come without controversy, with some claiming that he “stole” their enterprise from them.
To invest in a McDonald’s franchise, you’d need 25% of unencumbered funds, or roughly £100,000, plus funding from a bank. Franchisees may use banks which McDonald’s has a relationship with that offer competitive rates.
If you want to visit the original McDonald’s restaurant, it’s worth noting that the first-ever McDonald’s restaurant in San Bernardino, California, was demolished in 1972. However, part of the original famous “Golden Arches” sign still exists, and an independent McDonald’s museum was opened at the site in 1998.
The oldest existing McDonald’s restaurant today is a drive-up hamburger stand in Downey, California, opened on August 18, 1953.
From its origins to its global dominance, McDonald’s continues to be a key player in the fast-food industry, proving to be a significant investment for entrepreneurs looking for success in the business world.
