McDonald's

McDonald's Corporation (NYSE: MCD) is the world's largest chain of fast-food restaurants. more...

The company began in 1940 with a restaurant opened by siblings Dick and Mac McDonald, but it was their introduction of the "Speedee Service System" in 1948 that established the principles of the fast-food restaurant. However, the company today dates its "founding" to the opening of CEO Ray Kroc's first franchised restaurant, the company's ninth, in 1955.

Corporate overview

McDonald's brand is in 119 countries and territories around the world. 30,000 locations serve nearly 50 million customers each day. More than 70% of McDonald's restaurants around the world are owned and operated by independent local businesspersons.

In addition, the company operates other restaurant brands, such as Aroma Café, Boston Market, Chipotle Mexican Grill, and has a minority stake in Pret a Manger. Until December 2003 it also owned Donatos Pizza. It also has a subsidiary, Redbox, which in 2003 started as 18-foot wide automated convenience stores, but as of 2005 has focused on DVD rental machines.

Revenues for 2004 were US$19.1 billion, with net income at $2.75 billion.

Most standalone McDonald's restaurants offer both counter and drive-through service, with indoor and sometimes outdoor seating. The Drive-Thru, Auto-Mac, or McDrive as it is known in many countries, often has separate stations for placing, paying for, and picking up orders, though the latter two steps are frequently combined. In some countries "McDrive" locations near highways offer no counter service or seating. In contrast, locations in high-density city neighborhoods often omit drive-through service. There are also a few locations, located mostly in downtown districts, which offer Walk-Thru service in place of Drive-Thru.

Read more at Wikipedia.org