Preview

Skimming and Scannig

Powerful Essays
Open Document
Open Document
1783 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Skimming and Scannig
Why McDonald's? McDonald’s has always been a franchising company and has relied on its Owner/Operators to play a major role in the System’s success. McDonald’s remains committed to franchising as a predominant way of doing business. Listen as four McDonald's Owner/Operators share their perspective in these areas: Training, McFamily, Customer Satisfaction, Social Responsibility and Support.World Class TrainingMcDonald’s continues to be recognized as a premier franchising company around the world. We believe a major component of this is the world class training you receive prior to becoming an Owner/Operator. McDonald’s provides hands on training and the materials you need to be a success in your restaurant business. View McDonald’s Training Map.World Class ServiceMcDonald's offers World Class Service |

Acquiring a Franchise Most Owner/Operators enter the System by purchasing an existing restaurant, either from McDonald’s or from a McDonald's Owner/Operator. A small number of new operators enter the System by purchasing a new restaurant.The financial requirements vary depending on the method of acquisition.Financial Requirements/Down PaymentAn initial down payment is required when you purchase a new restaurant (40% of the total cost) or an existing restaurant (25% of the total cost). The down payment must come from non-borrowed personal resources, which include cash on hand; securities, bonds, and debentures; vested profit sharing (net of taxes); and business or real estate equity, exclusive of your personal residence.Since the total cost varies from restaurant to restaurant, the minimum amount for a down payment will vary. Generally, we require a minimum of $750,000 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.FinancingWe require that the buyer pay a minimum of 25% cash as a down payment toward the purchase of a restaurant. The

You May Also Find These Documents Helpful

  • Powerful Essays

    btec business unit 1 d1

    • 1740 Words
    • 5 Pages

    The owners are very important in McDonalds, because they’re the people that invest in the business and make sure that it runs smoothly to be able to give a good service and provide the customers with high quality food. They have to make sure that the each of the fast food restaurants are kept clean and designed well, to attract the customers and make them enjoy their time while having their food. This brings more costs with it; therefore the owners have to make sure that they have enough money when investing more money into the restaurants. They also have to make sure that McDonalds is fully equipped to be able to prepare the food that’s on the menu. When hiring new members of staff, they have to follow the procedures to make sure that they do it correctly. The people that they hire need to be suitable for the job and meet all of McDonald’s requirements and if failed to do so, it could have a big impact on the business and its overall success. Owners also need to make sure that all of the rules and regulations are followed so they don’t get into trouble for going against the law. If any of their employees don’t follow these rules, they are the ones to deal with it. The owners are in control of finance of the business and it’s budgeting. They need to make sure that the money is divided equally and controlled as it’s very easy to fall into debt but harder to get out of it. However, the owners don’t deal with everything themselves as their restaurants are all over the world; therefore they have their trusted people that deal with most of the issues that they don’t have time to deal with. For example, these…

    • 1740 Words
    • 5 Pages
    Powerful Essays
  • Good Essays

    Owners: Owners want to prosper and make money. They also need to care about how the business is running and how it will be more successful by investing money. If McDonald’s wasn’t as successful as it is today then owners wouldn’t be as confident to keep their service running.…

    • 541 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    McDonald’s gives you the tools you need to succeed, whether it’s the chance to own your own restaurant or tackle the corporate ladder. To be the best…

    • 392 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    Sbe 440 Course Project

    • 8859 Words
    • 36 Pages

    Before you start a franchise, it's important to set goals so you can reach your financial and personal dreams. Most McDonald's franchisees enter the McDonald's system by purchasing an existing restaurant, either from McDonald’s or from a McDonald's Owner/Operator. A small…

    • 8859 Words
    • 36 Pages
    Powerful Essays
  • Satisfactory Essays

    Good Business Sense

    • 722 Words
    • 3 Pages

    McDonalds really take pride in giving every one of their employee’s opportunity to move up in the restaurant business. Each crew member is given the chance to gain a management position or higher. Over the years of production, McDonalds has successfully found numerous ways to increase satisfaction for their customers allowing their revenue to…

    • 722 Words
    • 3 Pages
    Satisfactory Essays
  • Better Essays

    Mgt 230 Week 4 Paper

    • 1799 Words
    • 8 Pages

    McDonald's has successfully created a brand/name for itself as the leading fast food retailer in the world. It is somewhat of impossibility for one to not come across a McDonald's with over 30,000 local restaurants in over 100 countries (McDonald's, 2011). Those restaurants are owned either by a franchise owner or a corporation; a percentage of all the earnings from a franchise owner, including a percentage from their annual revenue go to McDonald's.…

    • 1799 Words
    • 8 Pages
    Better Essays
  • Good Essays

    A franchise is a business agreement between a franchisor and a franchisee. The franchisor sells or rents the rights of the particular business to a qualified franchisee to expand business using a small capital. The franchisee must oblige and follow all rules and regulations that they purchase, that includes maintaining a strong business relationship, using the products, sale techniques and other managerial assistance that is provided by the franchisor. One must have a working capital reserved in addition to start up costs, that can go anywhere from $20,000.00 and up. But once a person has determined their net worth and credit history, obtaining a loan may be feasible. A franchisor may require the franchisee to pay many fees, royalties and operating expenses that have to cover rent, payroll and utilities.…

    • 816 Words
    • 4 Pages
    Good Essays
  • Powerful Essays

    Mcdonalds

    • 1076 Words
    • 5 Pages

    McDonald 's is one of, if not the most widely recognized names in the food industry. This is quite the accomplishment for the once small family owned burger establishment founded back in 1948. McDonalds is not only a giant in the food industry, but has also grown to be one of the largest real estate holding companies in the world. McDonalds owns a considerable number of the properties that the McDonald’s stores reside on, leasing them out to the franchisees. McDonalds has expanded its operations to over 30,000 establishments located all over the world in over 118 countries. Being the largest restaurant in the world’s, has not come without its fair share of significant accomplishments and setbacks. The company has for various different reasons had to close some of its foreign operations in countries such as Bolivia, Jamaica, and other countries where sales were not doing satisfactory. Overall, none of these seems to have any substantial effect on the colossal giant (McDonald’s Abroad, 2009).…

    • 1076 Words
    • 5 Pages
    Powerful Essays
  • Better Essays

    We all know of McDonald’s a being one of the biggest, popular, and best food chain restaurant around the world. The fast food chain was started in 1955 by Ray Kroch in California. The restaurant took pride in providing hot French fries, delicious hamburgers, and their speedy drive-thru service. The fast food chain started with one small restaurant and got restaurants all over the US and other countries. McDonald’s main mission is to keep serving a budget and healthier friendly menu. The restaurant chain has over 30,000, and that is in a least 100 overseas locations. McDonald’s as a fast food chains earns more than a billions…

    • 1119 Words
    • 5 Pages
    Better Essays
  • Good Essays

    Mcdonald's Case Analysis

    • 1249 Words
    • 5 Pages

    McDonald's restaurant chain is comprised of company owned restaurants as well as franchised restaurants, which make up over 65% of the operating McDonalds outlets; because of this many of the restaurants are controlled and run separate from one another. The whole segment of McDonald's India has a board of managing directors that oversee McDonald's operations in India. From a management standpoint, McDonalds can be seen to have different varying stances. The company can be viewed as a mature company that was introduced over 65 years ago and now encompasses virtually the entire globe with its operations. However, it seems that McDonald's, large in size already, keeps expanding internationally as well as in the United States. While many…

    • 1249 Words
    • 5 Pages
    Good Essays
  • Satisfactory Essays

    Opportunities: McDonalds “Plan to Win” is driving results and has played a primary role in the company’s strategic direction. Now, the strategic direction is “to be better, not just bigger.” CEO Skinner stated, “ our customers centric plan to win continues to dive sustained momentum and is generating broad based growth in our business. Our performance confirms that our emphasis is on improving the McDonalds restaurant experience on the 5 P’s of people, product, place, price, and promotion is the right strategy for our customers and McDonalds. One of our two separate but equally important goals is to stay sharply focused on the here and now and to run day to day operations with maximum efficiency and productivity. The other is to ensure that the right people and processes are concentrating on the future and developing new innovations that can sustain profitable growth over the long haul.” McDonalds is developing many new innovative niches that could provide multiple opportunities for them in the coming years. These niches include;…

    • 638 Words
    • 3 Pages
    Satisfactory Essays
  • Best Essays

    The first McDonald’s opened in 1955, in Des Plaines, Illinois. The organization has maintained a history of steady improvement and consistency within its organizational efficiency and products from its inception. McDonald’s invests greatly in their training program to ensure that employees properly perform their assigned duties according to prescribed best practices. The company continues to receive prestigious awards for their leading-edge training, including the “Employer of Choice Award” from the Restaurant Business Magazine (Restaurant Management, 2004; Early et al., 2004). McDonald’s fits the paradigm of a rational organization…

    • 1744 Words
    • 7 Pages
    Best Essays
  • Powerful Essays

    Ray Kroc, the founder of McDonald’s Corporation, based his empire on the fundamental principles of Quality, Service, Cleanliness, and Value (Q.S.C.& V.). The company, which started in 1948 as a single drivein restaurant in San Bernardino, California, grew to become the largest food-service organization in the world. By June 1993, McDonald’s ran 2,576 company owned stores, 9,451 franchises and 1,362 joint ventures in 65 countries.1 In the U.S. alone, more than 18 million people visited a McDonald’s each day.2 See Exhibit 1 for a summary of McDonald’s financials.…

    • 4684 Words
    • 19 Pages
    Powerful Essays
  • Satisfactory Essays

    low cost strategy

    • 340 Words
    • 2 Pages

    Meanwhile, the fast food giant requires its franchisees to have cash liquidity worth $250,000. Another requirement for them is to have a business experience that will allow them to handle their chains effectively. After qualifying as a franchisee, McDonald’s will train entrepreneurs for one week that will teach them more skills on how to manage their business.…

    • 340 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Skimming and Scanning

    • 887 Words
    • 4 Pages

    Scanning is rapidly running your eyes over the text in order to locate SPECIFIC DETAILS. Three steps to scanning include:…

    • 887 Words
    • 4 Pages
    Satisfactory Essays