McDonalds and Minority Millionaires

[Conley]

Ray Kroc, the founder of the world’s most successful fast food chain, was born 107 years ago this week. The one-time milkshake machine salesman was born on Oct. 5, 1902. He opened his first McDonald’s 52 years later. Today, it is almost impossible to grasp how huge the company he founded has become.

McDonald’s has some 15,000 restaurants in this country with 85 percent of them owned by franchisees. And listen to what those outlets have accomplished: More than half of the workers in America today got their very first job at a McDonald’s somewhere. The company has made more millionaires—and especially more black and Hispanic millionaires—than any other entity ever.

Kroc died in January 1984, just 10 months before McDonald’s sold its 50 billionth hamburger. That’s eight burgers for every man, woman, and child on earth today. Today, of the 90 meals a month we consume, the average American eats three of them at McDonald’s. Or at least they get their food there; most customers pick up their order at the drive-up window.

But we’re not all dining on Big Macs. Today McDonald’s sells as much chicken as it does beef. And here’s another fun factoid: Years ago, the Washington, D.C.-area McDonald’s sponsored a television show called "Bozo’s Circus." On it, the company spokesman, Ronald McDonald, was played by a 25-year-old Willard Scott. You’ll know him better as the Today show weatherman who celebrates centenarians’ birthdays.

http://www.personalliberty.com/this-...ore-than-food/

That is some marketing success...I can't believe that is true. It makes sense though that the company would have made so many millionaires.

[Mister D]

More than half of the workers in America today got their very first job at a McDonald’s somewhere.

What!? I don;t believe that. I'd have to see how they got that figure.

[Conley]

More than half of the workers in America today got their very first job at a McDonald’s somewhere.

What!? I don;t believe that. I'd have to see how they got that figure.

Yeah I meant to bold that one too. Doesn't seem possible.

[Conley]

From the McDonald's website it states you need about half a million dollars "non-borrowed" as a down payment to buy a McD's franchise. This means that if it were an independent owner they would likely have to be a millionaire to even think about owning a McD's.

From their website: "Since the total cost varies from restaurant to restaurant, the minimum amount for a down payment will vary. Generally, we require a minimum of $500,000 of non-borrowed personal resources to consider you for a franchise. Individuals with additional funds may be better prepared for additional or multi-restaurant opportunities."

http://www.aboutmcdonalds.com/mcd/fr...franchise.html

So you pretty much need to be almost a millionaire to start.

[Mister D]

Franchising sounds like a good gig though. I bet the hardest part is just raising the capital to get started.

[Mister D]

From the McDonald's website it states you need about half a million dollars "non-borrowed" as a down payment to buy a McD's franchise. This means that if it were an independent owner they would likely have to be a millionaire to even think about owning a McD's.

From their website: "Since the total cost varies from restaurant to restaurant, the minimum amount for a down payment will vary. Generally, we require a minimum of $500,000 of non-borrowed personal resources to consider you for a franchise. Individuals with additional funds may be better prepared for additional or multi-restaurant opportunities."

http://www.aboutmcdonalds.com/mcd/fr...franchise.html

So you pretty much need to be almost a millionaire to start.

I thought so.

[Conley]

McDonald's exemplifies the role of small businesses in Americans' upward mobility. The company is largely a confederation of small businesses: 85 percent of its U.S. restaurants -- average annual sales, $2.2 million -- are owned by franchisees. McDonald's has made more millionaires, and especially black and Hispanic millionaires, than any other economic entity ever, anywhere.

McDonald's has 14,000 restaurants in America and an additional 17,000 in 117 other countries. The company will add 1,000 others in 2008, more than 90 percent of them abroad. Such is the power of the McDonald's brand, 48 percent of the people of India were aware of McDonald's before it opened its first restaurant on the subcontinent.

http://www.washingtonpost.com/wp-dyn...122601485.html

Can't find anything support half of all American workers...

[Conley]

From the McDonald's website it states you need about half a million dollars "non-borrowed" as a down payment to buy a McD's franchise. This means that if it were an independent owner they would likely have to be a millionaire to even think about owning a McD's.

From their website: "Since the total cost varies from restaurant to restaurant, the minimum amount for a down payment will vary. Generally, we require a minimum of $500,000 of non-borrowed personal resources to consider you for a franchise. Individuals with additional funds may be better prepared for additional or multi-restaurant opportunities."

http://www.aboutmcdonalds.com/mcd/fr...franchise.html

So you pretty much need to be almost a millionaire to start.

I thought so.

Yeah. Really I don't get it...the food is not that good. I had breakfast there a few weeks ago. First time I'd eat McDonalds in probably five years, since a road trip. It just wasn't good, and I like the taste of junk food so it wasn't that.

[Mister D]

Not sure where this "Chip Wood" got that stat.

I remember loving the taste of their fries and burger patties as a kid. Then some vegetarians and Hindus complained about frying the potatoes in lard. : It might just be that my taste buds have changed over the years. Anyway, I've always disliked fast food breakfasts. I'll take a greasy spoon over a fast food joint any day when it comes to breakfast.

[Conley]

The worst part was the coffee. It takes a lot for me to dislike coffee...this just tasted like someone had used double the water. I'm not sure if it's always like that or if I just got a bad batch.