White Paper - Key Success Factors - Fast-Food Industry Essay Example
Key Success Factors – Fast-Food Industry
I. Introduction
As you may know, fast food is any food that can be prepared and served within a short amount of time. The history of fast food can be taken back to Ancient Rome – where bread and wine were sold in street-side stalls. The global fast food industry has had a tremendous growth over the last few decades. In 1970, we spent $6 billion on fast food – increasing to $110 billion by 2000.
A. McDonald’s Corporation
The first company I chose to discuss is McDonald’s. Everyone knows what McDonald’s sells. They are in just about every town in the US. If they are not in your town, they’re in the town next to you or very close to you. The very first “McDonalds” opened in 1940, but it was not what the restaurant is today. The first restaurant opened in San Bernardino, California. It was a Bar-B-Q restaurant opened by Dick and Mac McDonald. Then in 1948, they shut down the restaurant for three months for alterations. When they reopened in December, they reduced their menu to only nine items: hamburger, cheeseburger, soft drinks, milk, coffee, potato chips and a slice of pie. The hamburger was only 15 cents. In 1949, French fries replaced the potato chips on their menu. Also, the triple thick milkshakes makes a debut. Then in 1954, the brothers get a visit from Ray Kroc, a mixer salesman determined to sell them more mixers. However, Ray had an epiphany and is determined that his future would be in hamburgers. On April 15, 1955, Ray opened his first McDonald’s in Des Plaines, Illinois. The building was red and white tile with the now famous Golden Arches. The first day sales were $366.12 and 10 years later there were over 700 restaurants throughout the US. (McDonalds.com, 2012) In 2010, McDonalds reported that their yearly high and low of their stocks were $80.94 and $61.06, with a dividend of $2.26. The number of shareholders was estimated to be 1,348,000 as of January 31, 2011. (McDonald's
I. Introduction
As you may know, fast food is any food that can be prepared and served within a short amount of time. The history of fast food can be taken back to Ancient Rome – where bread and wine were sold in street-side stalls. The global fast food industry has had a tremendous growth over the last few decades. In 1970, we spent $6 billion on fast food – increasing to $110 billion by 2000.
A. McDonald’s Corporation
The first company I chose to discuss is McDonald’s. Everyone knows what McDonald’s sells. They are in just about every town in the US. If they are not in your town, they’re in the town next to you or very close to you. The very first “McDonalds” opened in 1940, but it was not what the restaurant is today. The first restaurant opened in San Bernardino, California. It was a Bar-B-Q restaurant opened by Dick and Mac McDonald. Then in 1948, they shut down the restaurant for three months for alterations. When they reopened in December, they reduced their menu to only nine items: hamburger, cheeseburger, soft drinks, milk, coffee, potato chips and a slice of pie. The hamburger was only 15 cents. In 1949, French fries replaced the potato chips on their menu. Also, the triple thick milkshakes makes a debut. Then in 1954, the brothers get a visit from Ray Kroc, a mixer salesman determined to sell them more mixers. However, Ray had an epiphany and is determined that his future would be in hamburgers. On April 15, 1955, Ray opened his first McDonald’s in Des Plaines, Illinois. The building was red and white tile with the now famous Golden Arches. The first day sales were $366.12 and 10 years later there were over 700 restaurants throughout the US. (McDonalds.com, 2012) In 2010, McDonalds reported that their yearly high and low of their stocks were $80.94 and $61.06, with a dividend of $2.26. The number of shareholders was estimated to be 1,348,000 as of January 31, 2011. (McDonald's