Macdonalds Report
Investigation of McDonalds
Introduction
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McDonald's is the largest food service company in the world. The company regards itself as the leading global food service retailer.
With more than 30,000 restaurants serving more than 47 million people each day in 121 countries. In 1974 McDonald's opened its first restaurant in the UK. As of 31 December 2001, McDonald's and its franchisees operated over 1,184 restaurants in the UK.
Ownership
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The business that I have chosen to investigate is McDonalds which is a franchise. Franchise: A business licensed to use the name, logo and expertise of an existing, well-known business.
The benefits of a franchise are:
The Expertise of the Franchisor
When you buy a franchise, you are purchasing the years of experience and the proven business model of the franchise system, also known as the franchisor. In any new business, much time and money are spent in trial and error. A proven franchise may eliminate many of the start-up problems. A franchise enables you to open a franchise business with little or no previous experience in a given industry.
Instant Brand Recognition
In addition to the franchisor's experience and business model, you are also purchasing the right to license the trademarks of the business.
Depending on the size of the franchisor and how long the system has been in place, these trademarks can bring instant goodwill and credibility to your business and the products and services you provide. Training
A franchise system will provide training for you and possibly some of your employees. This is usually done both at the franchisor's home office and the franchisee's place of business. This training should prepare you in all facets of the business including: purchasing and inventory maintenance, handling customer complaints, dealing with employee matters, etc. The level and length of training will vary
Introduction
============
McDonald's is the largest food service company in the world. The company regards itself as the leading global food service retailer.
With more than 30,000 restaurants serving more than 47 million people each day in 121 countries. In 1974 McDonald's opened its first restaurant in the UK. As of 31 December 2001, McDonald's and its franchisees operated over 1,184 restaurants in the UK.
Ownership
=========
The business that I have chosen to investigate is McDonalds which is a franchise. Franchise: A business licensed to use the name, logo and expertise of an existing, well-known business.
The benefits of a franchise are:
The Expertise of the Franchisor
When you buy a franchise, you are purchasing the years of experience and the proven business model of the franchise system, also known as the franchisor. In any new business, much time and money are spent in trial and error. A proven franchise may eliminate many of the start-up problems. A franchise enables you to open a franchise business with little or no previous experience in a given industry.
Instant Brand Recognition
In addition to the franchisor's experience and business model, you are also purchasing the right to license the trademarks of the business.
Depending on the size of the franchisor and how long the system has been in place, these trademarks can bring instant goodwill and credibility to your business and the products and services you provide. Training
A franchise system will provide training for you and possibly some of your employees. This is usually done both at the franchisor's home office and the franchisee's place of business. This training should prepare you in all facets of the business including: purchasing and inventory maintenance, handling customer complaints, dealing with employee matters, etc. The level and length of training will vary