The Success Of The Fast Food Industry - 1295 Words

Ray Albert Kroc was born in Oak Park, Illinois, on October 5, 1902. Kroc was a Red Cross ambulance driver in World War I. He lied about his age to start serving at the age of 15. While he was in training, Kroc met Walt Disney, who he continued working with for most of his life. Kroc had many careers in the past, including paper cup salesman, pianist, and DJ on a local Oak Park radio station. He also worked for room and board at a restaurant, hoping to learn the world of business. He decided to put his restaurant knowledge to use as a traveling milkshake machine salesman. The machines that he sold made five shakes at once, increasing restaurant efficiency. This business remained in sales for 17 years. The fast food industry began with two†¦show more content†¦They had a limited menu, with just a few items—burgers, fries and beverages—which allowed them to focus on quality at every step. In 1955, Kroc founded the McDonald s Corporation and became president of the corporation. By 1958, McDonald’s had sold its 100 millionth hamburger. He bought the exclusive rights to the McDonald s name six years later, in 1961. By then, the chain had more than two hundred restaurants. In 1977, after leading McDonald’s past archrival Burger King, Kroc was reassigned to the role of senior chairman. Fast food restaurants spread quickly in the United States because of franchising. Franchising is selling the legal right to operate a store in a company s chain to an independent businessperson. If the company approves, the businessperson may buy or lease the store for a period of years. Ray Kroc was good at identifying what the public wanted. He knew that many families wanted to eat inside a restaurant sometimes. He gave people a simple eating-place with popular food, low prices, friendly service and no waiting. Kroc chose a unique path: persuading both franchisees and suppliers to buy into his vision, working not for McDonald’s, but for themselves, together with McDonald’s. He promoted the slogan, â€Å"In business for yourself, but not by yourself.† His philosophy was based on the simple principle of a 3-legged stool: one leg was McDonald’s, the second, the franchisees, and the