McDonald’s

McDonald’s is the world’s largest chain of hamburger fast food restaurants, serving around 68 million customers daily in 119 countries across 36,538 outlets. Founded in the United States in 1940, the company began as a barbecue restaurant operated by Richard and Maurice McDonald. In 1948, they reorganized their business as a hamburger stand using production line principles. Businessman Ray Kroc joined the company as a franchise agent in 1955. He subsequently purchased the chain from the McDonald brothers and oversaw its worldwide growth. Based in Oak Brook, Illinois, McDonald’s confirmed plans to move its global headquarters to Chicago by early 2018.

A McDonald’s restaurant is operated by either a franchisee, an affiliate, or the corporation itself. The McDonald’s Corporation revenues come from the rent, royalties, and fees paid by the franchisees, as well as sales in company-operated restaurants. According to a 2012 BBC report, McDonald’s is the world’s second largest private employer—behind Walmart—with 1.9 million employees, 1.5 million of whom work for franchises.