Fast Food Industry Florida McDonald’s Restaurant Business Plan

Florida McDonald’s Restaurant Business PlanNameInstitutional AffiliationDate
Background
The first MacDonald Franchise was opened on April 15, 1958 by Ray Kroc at Des Plaines III. The first franchise was opened by Kroc when he was just 52 years old after working as salesman for almost thirty four years CITATION Jam101 \l 1033 (James, 2010). During the time that Kroc worked as a sales man, he would sell paper cups to the fast food retailers such as Howard Johnson’s and Dairy Queen. He also sold muiltimixers that were used in mixing milkshakes for drinking. It was during his sales job that Kroc met Dick and McDonald who were running a small hamburger joint in California. They had bought eight mixers and Kroc was curious to see the kind of activity that they were carrying out of making 4o milkshakes at one time. After observing what the MacDonald brothers were carrying out, Kroc was so impressed with their venture that he was willing to open the first MacDonald Franchise CITATION Jos15 \l 1033 (Joshi & Dalal, 2015). In 1961, he realized that his vision for MacDonald was not in line with the McDonald’s and he decided to buy the company from the two brothers. He went ahead to open the first Franchise of Mc Donald.
According to the site of the company, the restaurant sold $366.12 worth of burgers, fries and shakes on the inaugural day. By the time of the death of Kroc in 1984, the worth of the company had grown to at least $500 according to the New York Times. Currently, Mc Donald is available in over 100 countries and it serves 69 million customers on each day in 36,000 locations and in the year 2017 the company reported a revenue of $22.75 billion CITATION Fra16 \l 1033 (Fraser, 2016).
McDonald has also stood controversy over the years and one of the latest controversies that the company went through was the pressure that was placed on the company to increase the wages of employees. Another controversy was the perceived association with a global increase in obesity. The company responded by adding health food to its menu. However, this has not stopped the chain from remaining to be one of the largest hamburger chain in the world. The company is also associated with a number of charity events. In 1987, the company founded The Ronald MacDonald Charities that offers charity to different groups of people in the society.
Overview of the Fast Food Industry
The fast food industry is one of the industries that is growing at a very fast rate and in recent cases, rarely can you pass a street without noticing the existence of a fast food shop. Globally, it is approximated that the fast food industry generates a revenue of over $570 billion which is much bigger than the economic value of a number of countries. In the US, the revenue from the fast food industry was approximated to be at $200 billon in the year 2015.
It is also expected that the fast food industry will be having an annual growth of 2.5% for the next few years. In the US, there are over 200,000 fast food restaurants. According to nutrition statistics, it is estimated that 50 million Americans eat at each of the restaurants every day.
The fast food industry is also a source of employment to different people across the US and it I estimated that...