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Introduction to the fast food industry
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Recommended: Introduction to the fast food industry
Today, McDonalds is synonymous with the words fast food. Their golden arches are the most recognized symbol in the world, and are one of the largest distributors of toys. This fast food chain currently has over 14,157 franchises in the United States alone. Their main supply is food (hamburgers, fries, ice cream and breakfast biscuits), and we the consumer seem to demand this type of service more and more. Their current claim to fame is the dollar menu which is available for breakfast as well as lunch and dinner. You could easily feed a family of four for under $20.00 if each person purchases food and drink from the dollar menu. Currently the population of Flagler county is close to 100,000 with an unemployment rate of 8.3%. The supply and demand of fast foods restaurants in this county seem to be on the disproportionate side. With Mcdonalds owning four franchises in this county alone, all within a 15 mile radius of the town center of Bunnell and two of the McDonalds locations within 2 miles of each other. The need for government regulation in my opinion needs to happen. The local governments are making the wrong economic decisions for this county. A good example of scarcity and opportunity cost is that county is laden with unhealthy and cheap food establishments. While there are a majority of consumers shopping at these places the other people are waisting time and hard earned money travelling outside of the county, sometimes over one hour to shop or eat at places that serve healthier meals and food. According to theguardian.com it states that there are 22,174 people per one McDonalds, and if you quadruple that statistic due to four restaurants in my county, it is basically stating that almost every person l... ... middle of paper ... ...als. The beginning quarter of this year shows McDonalds had a net income of 1.27 billion. Which turns into each restaurnant roughly averaging 100,000 per day net. Yes, there are some that make more than others, some restaurants are open 24 hours per day while others are not. Is there really an reason in the world that Flagler County should have four McDonalds restaurants in one county? While the economy is suffering, obseity is at an all time high, the local government should enforce some type of opportunity costs to incoming businesses. Bringing in another supoermarket besides Publix and Winn Dixie could be great for the economy and employment. It would offer the consumer more buying power by offering more sales, offer healthier food options and maybe offer 50 – 100 jobs and decrease opportunity costs by minimizing travel times to out of the area locations.
McDonald’s Corporation started out in the way that many businesses do, with one idea and a brilliant mind or two. The year was 1948, when two brothers by the names of Mac and Dick McDonald, set forth with the idea to provide a low cost, quickly produced meal. Thus, the restaurant we know today was born. The menu consisted of only nine items such as: hamburgers, cheeseburgers, soft drinks, milk, coffee, potato chips, and pie. The staple of this menu was the hamburger for only 15¢. In 1954, a milkshake salesman named Ray Kroc stopped by the brother’s hamburger stand to sell them more milkshake machines. Upon learning that the brothers were looking for a national franchising agent, he quickly realized his future would be in
The obesity problem in this country has gotten worse, a lot worse, and the surge in obesity can be tied directly to fast food. I was appalled by the fact that since 1980 the number of people either fat of obese has doubled, and in that time frame there are twice as many overweight children and three times as many overweight adolescents. Looking strictly at the numbers, it is very easy to find a direct correlation between the number of overweight or obese individuals and the number of fast food establishments. However these fast food outlets are not created in a vacuum, they are servicing a demand. Each day one in four Americans visits a fast food restaurant. Our culture has evolved to one of immediate gratification, we want it convenient, and we want it now. The fast food industry has simply seized that cultural demand and has taken advantage of it all the way to the bank. I think we have a cultural weakness that looks for someone to blame for our problems and McDonalds certainly makes a nice target.
What is happening to our economy is that so many people are going to these fast food restaurants because they are basically on just about every corner. So, for adults that makes it easy if they didn’t have anything planned for dinner because they can just pick something up from the local fast food restaurant on their way home from work. Also, it is very cheap. For example, a bundle at McDonald’s can feed up to four people at one time and it only costs about fifteen dollars! So, in the long run, it is just easier to go pick up some fast food rather than wasting your time cooking an actual meal. Lastly, even though fast food is very cheap and on every corner, it is not healthy at all. Studies have proven that a person that ate McDonald’s for his meals for a full month ended up having some serious health changes. In conclusion, even though it is very easy to access and very cheap, fast food has some serious health issues and be very harmful.
From just one restaurant in San Bernadino, California, run by two brothers, McDonald’s has grown to become the best known and most popular fast food restaurant chain in the world.
In 1940, McDonalds was not the multi-million dollar industry that people recognize today. In fact, it started out as a small drive-in style BBQ restaurant, owned by Dick and Mac McDonald, in San Bernadino, California. However in 1948, the entire workings of the restaurant were altered, making it the dawn of the McDonald’s empire. This new drive-in, like other drive-in restaurants of its time, struggled to make a large amount of profit, due to selling low-priced food using traditional methods, which were often labor intensive and expensive. But the McDonald brothers fixed this problem by reducing their menu 25 items to nine items: hamburgers, cheeseburgers, soft drinks, milk, coffee, potato chips, and a slice of pie. Their staple item, the 30 cent hamburger, accounted for 80 percent of their total sales. Later, the brothers altered the production to that of the Fordist assembly line in order to make the whole operation fast and efficient, halving the price of their items, including their prized hamburger. (http://www.aboutmcdonalds.com/mcd/our_company/mcdonalds_history_timeline.html?DCSext.destination=http://www.aboutmcdonalds.com/mcd/our_company/mcd_history.html).
According to Royle (1999) McDonald’s is a very large multinational enterprise (MNE) and the largest food service operation in the world. Currently the company has 1.5 million workers with 23,500 stores in over 110 countries with the United Kingdom and Germany amongst the corporation’s six biggest markets, and over 12,000 restaurants in the United States. In 1974 the United Kingdom corporation was established and in 1971 the Germany corporation was established, currently the combined corporation has over 900 restaurants and close to 50,000 employees in each of these countries (Royle, 1999).
Today, there is more than 160,000 fast- food restaurants that feed more than 50 million America...
The menu at McDonald's typically consists of hamburgers, chicken sandwiches, salads, drinks, shakes, and a recent influx of healthier alternatives. McDonald's also is widely known for their breakfast menu, which consists of sandwiches, pancakes, French toast, hash browns, and breakfast drinks. Since McDonald's appeals to such a wide audience, it must constantly re-evaluate its menu depending on feedback and market research. McDonald's expends considerable resources to update its menu and introduce new products in order to be more in tune with its target audience (The Times 100).
McDonald’s has the largest fast food market share in the world. As mentioned, it serves 68 million customers every day in 119 countries, allowing it to be the second largest outlet operator with more than 34,000 outlets.
He saw how much potential the restaurant has, so he bought it out and opened one of the first franchises. Within the first year of Ray Kroc buying it, there were one hundred and two locations all around the world. McDonalds currently is one of the largest fast food restaurants in the world and currently has served over sixty four million customers through one of their thirty two thousand sites. It has almost become a way of life for America. Though, McDonalds started off as a small business between two brothers, it grew into one of the largest restaurant franchises in the world and greatly affects our society and how we eat our food.
McDonald’s has proven over time that the business practices they utilize work well and have led them to obtaining the title of the largest food retailer in the world. The founder of the company made a tactical decision in franchising the idea of providing fast food at a cheap price. Today, fast food has become a staple of not only American life but a viable food option all over the world. For McDonald’s a critical factor in them reaching the level of growth they currently experience has been franchising. It can be assured that McDonald’s will continue to grow through the usage of the franchising techniques as new food markets continue to develop all over the world.
McDonalds provide high quality products, such as burgers, fries, drinks, muffins, etc, which are safe and reliable that it does what it is supposed to do, but not only does the quality of the products matter, the good value for money affects the business. E.g. buy one extra value meal and get one free with a food voucher that represents the offer only. They ensure that a high standard of the product is carried out at all times and they try to compete very competitively with other fast food businesses with their good value for money. Also a customer would know if the product is good value for money by checking in another food outlet like KFC for their services and products.
In today’s market, McDonalds faces numerous challenges such as fierce competition, a more health conscious customer, and the continual need for improved customer satisfaction and menu. McDonalds needs to go through some changes in order to remain ahead in the fast-food industry.
“McDonald 's is the leading global foodservice retailer with more than 35,000 local restaurants serving nearly 70 million people in more than 100 countries each day” (About McDonald’s 2014).
McDonalds uniform menu offerings can be mass produced; therefore helps to lower production costs. Additionally, the company bargaining power with its suppliers lowers its input costs and boost margins and even more importantly, McDonald 's offers a very large advertising budget which gives the company a significant competitive advantage over its competitors. Much of McDonald 's sales occur outside the United States and thus, with McDonald 's tapping extensively into global expansion therefore the company’s international operations will continue to strive and