Oak Brook, IL 60523
Employees: 1,700,000 worldwide
CEO: Steve Easterbrook
Stock Symbol: MCD
McDonald's is the world's best known fast-food chain. With its familar golden arches logo, McDonald's has nearly 39,000 restaurants worldwide serving Big Macs, Chicken McNuggets, hamburgers, salads, coffee and french fries.
Most restaurants offer drive-thru service and some suburban locations offer outdoor playgrounds for children.
More than 80% of McDonald's restaurants worldwide and nearly 90% in the U.S. are operated by independent franchisors. The company says it serves over 70 million customers in 119 countries each day.
In order to be considered as a McDonald's franchisee, an individual must have at least $500,000 in personal financing. There are about 2,400 owner/operators systemwide. Many franchisees own multiple restaurants.
In 2020, the company reported revenues of $19.2 billion, down 10% from the previous year as many restaurants closed indoor dining due to the pandemic. Net income was $4.73 billion. Global comparable restaurant sales declined 7.7% for the year but were up 0.4% in the U.S.
McDonald's closed many of its dining rooms during the pandemic and some are still closed to guests. The chain eliminated salads and all-day breakfast from restaurants to make it simpler for kitchens to focus on hamburgers and fries.
The chain began introducing limited-time deals with celebrities in 2020 including Travis Scott and J Balvin. Other celebrities in 2021 with McDonald's meals include BTS and Saweetie.
The first McDonald's restaurant was located in San Bernardino, CA in 1954 and operated by two brothers Dick and Mac McDonald. Ray Kroc, a milk shake machine salesman, thought the restaurant was great and purchased the rights from the brothers. Kroc opened his first McDonald's restaurant in Des Plaines, IL in 1955 and preached cleanliness in restaurants.
McDonald's would grow quickly as it signed on franchisees to open restaurants around the country. McDonald's would go public in 1965.
The Big Mac was introduced systemwide in 1968 and was the brainchild of Jim Delligatti, one of Ray Kroc's earliest franchisees, who by the late 1960s operated a dozen stores in Pittsburgh.
The Egg McMuffin was developed by owner operator Herb Peterson in 1973.
McDonald's sold the Boston Market restaurant chain in 2007 and owns a stake in Chipotle Mexican Grill.
McDonald's launched a new coffee kiosk in 2009 in most of its restaurants called McCafe featuring premium coffees including mochas, capuccinos and hot chocolate.
McDonald's introduced Mighty Wings in 2013 but were removed due to poor sales.
An estimated 10% of all workers have once worked at McDonald's in their lifetime.
In March 2019, the company acquired Dynamic Yield, a developer of personalization and decision logic technology. McDonaldâ€™s plans to utilize this decision technology to provide an even more personalized customer experience by varying outdoor digital Drive Thru menu displays to show food based on time of day, weather, current restaurant traffic and trending menu items. The decision technology can also instantly suggest and display additional items to a customerâ€™s order based on their current selections.
The following benefit information is primarily for corporate employees.
Employees receive medical, dental and vision coverage along with life insurance.
Base pay and incentive pay is offered if corporate, regional or division offices meet their annual goals. Top performers can also receive additional incentive pay.
Vacation, holidays - McDonald's offers paid vacation for corporate, region and division office employees as well as Restaurant Management employees. The amount of vacation time employees have available depends on how long they have worked at McDonald's. In addition, McDonald's offers nine paid holidays (less for part-time workers) for eligible employees.
Sabbatical program - Eligible employees can take an eight-week sabbatical for every 10 years of full-time continuous service with the company.
Short Fridays - From mid-May through mid-September, McDonald's corporate, division and region offices' work hours begin a half hour early in order to end early (1:00) on Fridays.
Profit Sharing and Savings Plan - Profit Sharing and Savings Plan lets employees save from 1% to 50% of their pay on a tax-deferred basis in the 401(k) feature of the plan. McDonald's matches employee contributions with $3 for each $1 of the first 1% of pay they contribute, and $1 for each $1 on the next 4% they contribute. For employees who contribute at least 1% to the plan, McDonald's may make a discretionary profit sharing match of up to 4% of pay to their 401(k) accounts. Employees are always 100% vested in their contributions and the company matches.
Mc$ave - Mc$ave is a special money market fund for McDonald's employees. Money put into Mc$ave is invested in the Prime Reserve Fund managed by T. Rowe Price.