Concept
McDonald's Corporation 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 proceeded to purchase the chain from the McDonald brothers. McDonald's had its previous headquarters in Oak Brook, Illinois, but moved its global headquarters to Chicago in June 2018. McDonald's is also a real estate company through its ownership of all restaurant locations. McDonald's is the world's largest fast food restaurant chain, serving over 69 million customers daily in over 100 countries in more than 40,000 outlets as of 2021. 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 best-selling licensed item are their french fries, followed by the Big Mac. 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. , McDonald's has the sixth-highest global brand valuation. McDonald's has been subject to criticism over the health effects of its products, its treatment of employees, and other business practices. History of McDonald's 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 their predecessor White Castle had put into practice more than two decades earlier.
