There are many chances to grab yourself a McDonald’s franchise, regardless of where you live. This brand is in many countries. The fact that it is also in many towns and cities means it’s difficult to find a location where you’re not going to have direct competition, but there are options to get around that as well.
Is McDonald’s a Franchise?
Yes! And a very successful one at that. To discover more about the McDonald’s franchise, keep reading.
How Much is a McDonald’s Franchise?
You need between $1 million and $2.5 million to start your own McDonald’s franchise. It all depends on a number of factors, which we have discussed in more detail below.
Many franchise owners have bought their franchise from previous owners. They take over a restaurant that is established. It is stocked, staffed and it has its regular customers as well. This is a shortcut to getting your own McDonald’s franchise, and it’s one that the majority of McDonald’s franchise owners have taken over the years.
If you think you have found an area that doesn’t have a location yet and could use one, then it’s time to setup your own franchise. Be prepared though, because you’re going to need a lot of money.
Who Owns McDonald’s?
McDonald’s is owned by the McDonald’s Corporation. This cooperation is traded on the stock exchange, which means that it is owned by a series of investors and stockholders. There is no one person owner. In fact, the model of this chain has ensured that it has always been owned by a number of different investors.
How Old is McDonald’s?
As of summer 2017 McDonald’s is 77 years old. It was founded in May, 1940. This wasn’t a great year for the world, as war had just started in Europe and was about to spread worldwide, but it was a great year for the food industry. The first McDonald’s location combined all of the popular elements you will find at this chain, but it wasn’t until 1955 that the McDonald’s Corporation was formed. This is when it really began to turn into a global giant, when it went from popular local restaurant to potential global powerhouse. It was also when the chain we know today began to take shape, which is why many quote 1955 as the year it was founded.
Ray Kroc was the man who made that happen. You can see this story for yourself in The Founder, a very entertaining and informative film starring Michael Keaton that was released in 2016.
Are There 24 Hours McDonald’s?
There are many McDonald’s locations open for 24 hours a day. These are the ones in popular areas, the ones where they can guarantee a regular stream of customers for each of those 24 hours. Most of them, if not all of them, have drive-thrus and some of them only operate the drive-thru during the early morning hours.
McDonald’s Net Worth
It has been said that the total net worth of McDonald’s is around $105 billion. This makes them one of the most valuable food companies in the world.
There are many different positions at McDonald’s. Some of these, like Crew Member, encompass a wide range of jobs. Others are a little more straight ward and self explanatory.
Here is a list of jobs that you will find in most countries:
- Restaurant Manager
- First Assistant Manager
- Second Assistant Manager
- Shift Manager
- Guest Experience Leader
- Team Leader
- Crew Member
What is McDonald’s Mission Statement?
The current McDonald’s Mission Statement was created in 2013, with aims of describing the brand’s mission going forward. Other countries may have different statements, but this is the one for the United States:
“McDonald’s brand mission is to be our customers’ favorite place and way to eat and drink. Our worldwide operations are aligned around a global strategy called the Plan to Win, which center on an exceptional customer experience – People, Products, Place, Price and Promotion. We are committed to continuously improving our operations and enhancing our customers’ experience.”
What is the McDonald’s App?
There is an app for everything these days, including McDonald’s. If you download this app you can catch up on the McDonald’s menu (although why would you when we have it for you here?) and you can also pickup a number of deals. The app is not perfect and is a little redundant, but the deals are getting better. Just remember that if you use it for the menu then we will be very disappointed in you.
McDonald’s Phone Number and Other Details
You can send a letter to the McDonald’s Corporation using the following address:
2111 McDonald’s Drive
Obviously, it is a franchise, so corporation are not always the best people to get in touch with. You can simply get in touch with your local restaurant if they are the ones you have an issue with. You can also dial: 1-800-244-6227. This is the main contact number for the McDonald’s Corporate offices. They will be able to help you with your query and can also advise you with regards to getting in touch with franchisees.
McDonald’s Franchise Cost
if you want to open a McDonald’s franchise in the United States then you first need franchise fee of $45,000. This is in line with many other chains out there, including the likes of Krispy Kreme and Dunkin’ Donuts. But don’t get your hopes up just yet, because there is much more to it than that.
In fact, you need to have liquid capital of three-quarters of a million dollars on top of that franchise fee. You also need to have a location and to have enough money to stock-up, to get the staff and to get the restaurant up and running. The minimum investment for a McDonald’s franchise in the United States is just over $1 million. This can increase to nearly $2.5 million depending on a number of factors, including the location of the restaurant.
How Much Money Does McDonald’s Make a Year?
McDonald’s earned just over $24 billion in revenue throughout 2016. Of this, around $5 billion was net income. Their revenue was actually down on previous years, but they had squeezed more profit out of 2016 than had come from those years. This is a vast chain, and one with a seemingly never-ending bank account, so profit is rarely far away.
Is a McDonald’s Franchise Worth It?
A McDonald’s franchise is one of the most expensive out there, but it is not the most expensive. What follows is a list of the pros and cons of owning a McDonald’s franchise, taking all of the main financial aspects into consideration:
Pros of McDonald’s Franchise
- The most recognizable fast food brand in the world
- Guaranteed popularity—everyone has time for a McDonald’s
- Ability to compete with any other food chain, as McDonald’s will always be the biggest
- High margins
- Stock that is easy to handle
- Ability to attract all required employees with considerable ease
- Acquiring part of a food empire that spends millions on advertising every year
Cons of McDonald’s Franchise
- Can be expensive
- McDonald’s will never be considered healthy, and this could be amazing if everyone decides that health food is the way to go
- Fast food taxes could be imposed in many countries, damaging profits
- Lot of perishable stock
What is McDonald’s CEO Salary?
Ever wondered what the McDonald’s CEO makes while the people working underneath him are earning just above minimum wage? Well, prepare to squirm a little, because the CEO of McDonald’s Corp is said to earn over $15 million.
Let’s just say he must have flipped a lot of burgers in his time. Or none, as the case may be.
McDonald’s Franchise and Minimum Wage
McDonald’s is often labelled as the typical minimum wage job, and if you exclude the fact that many workers actually earn more than minimum wage, then it is. There are few benefits besides free food. There is little skill needed, little training required, and the workers as dispensable. It’s also a job aimed at the young, people often just out of school.
That’s not necessarily a bad thing though. Minimum wage jobs are either jobs that you take on when you don’t have the skills to do anything better, or jobs that you do when you are looking for something better. And in both cases, it is the perfect job for those instances.
Firstly, while you don’t need any qualifications, it doesn’t mean you have no future and have to remain at that entry level. You only need to be dedicated and hard working and regardless of your qualifications you can still make it far with McDonald’s careers. Secondly, the ease of getting a job with this company means it’s the perfect one to take on when you’re looking for something short-term and simple.
McDonald’s Employee Reviews
For the most part, McDonald’s employees are happy with this company and have expressed pride at working here. There are issues though. Many of these revolve around the low pay and the difficulty in getting promotions, but most of the employees companioning about such issues have admitted to not giving it their all and to feeling very disillusioned with the job. It should go without saying, but if that’s your attitude then they’re not going to promote you into a higher position no matter how ling you work here or how much you want it.
The McDonald’s managers who have worked their way up are delighted with the company and the opportunities that they have given them.