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McDonald’s Corporation
McDonald’s Corporation, doing business as McDonald’s, is an American multinational fast food chain, 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, in 1961, bought out the McDonald brothers. Previously headquartered in Oak Brook, Illinois, it moved to nearby Chicago in June 2018.[9]
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McDonald’s is also a real estate company through its ownership of around 70% of restaurant buildings and 45% of the underlying land (which it leases to its franchisees).
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McDonald’s is the world’s largest fast food restaurant chain,
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serving over 69 million customers daily in over 100 countries
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in more than 40,000 outlets as of 2021.
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McDonald’s is best known for its hamburgers, cheeseburgers and french fries, although their menu also includes other items like chicken, fish, fruit, and salads. Their bestselling licensed item is their french fries, followed by the Big Mac.
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The McDonald’s Corporation revenues come from the rent, royalties, and fees paid by the franchisees, as well as sales in company-operated restaurants. McDonald’s is the world’s second-largest private employer with 1.7 million employees (behind Walmart with 2.3 million employees), the majority of whom work in the restaurant’s franchises.
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As of 2022, McDonald’s has the sixth-highest global brand valuation.
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McDonald’s has been subject to criticism over the health effects of its products, its treatment of employees, and its participation in various legal cases.
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History
Siblings Richard and Maurice McDonald opened the first McDonald’s at 1398 North E Street at West 14th Street in San Bernardino, California on May 15, 1940. The brothers introduced the “Speedee Service System” in 1948, putting into expanded use the principles of the modern fast-food restaurant that predecessor White Castle had put into practice more than two decades earlier.
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The original mascot of McDonald’s was a hamburger-headed chef who was referred to as “Speedee”.
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In 1962, the Golden Arches replaced Speedee as the universal mascot.
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Clown mascot Ronald McDonald was introduced in 1963 to market the chain to children.
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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 granted a U.S. trademark.
The present corporation credits its founding to franchised businessman Ray Kroc on April 15, 1955.[additional citation(s) needed] This was the ninth opened McDonald’s restaurant overall, although this location was destroyed and rebuilt in 1984.[clarification needed] Kroc was recorded as being an aggressive business partner, driving the McDonald brothers out of the industry.
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Kroc and the McDonald brothers fought for control of the business, as documented in Kroc’s autobiography. In 1961, he purchased the McDonald brothers’ equity in the company and began the company’s worldwide reach.
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The sale cost Kroc $2.7 million, a huge sum during that time.
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The San Bernardino restaurant was eventually torn down in 1971, and the site was sold to the Juan Pollo chain in 1998. This area serves as headquarters for the Juan Pollo chain, and a McDonald’s and Route 66 museum.
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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.
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Its prominence has made it a frequent topic of public debates about obesity, corporate ethics, and consumer responsibility.
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