From the course: Financial Accounting Part 2

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Brief McDonald's history

Brief McDonald's history

From the course: Financial Accounting Part 2

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Brief McDonald's history

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- We are going to use numbers from McDonald's to practice several valuation models. - So before getting started with McDonald's numbers, we want to tell you some of our favorite parts of the history of McDonald's. - Now, Ray Crock, a 51 year old milkshake machine distributor first visited the McDonald's brothers drive-in in San Bernardino, California in July of 1954 because he wanted to know why a single hamburger stand needed 10 milkshake machines. - That first day, Crock spent the lunch rush hour watching the incredible business volume the small drive-in was able to handle. - Before leaving town, Crock had received a personal briefing on the McDonald's speedy system by Dick and Mack McDonald, and he had secured the rights to duplicate the system throughout the United States. - But Ray Croc soon discovered that duplicating the McDonald's system in his first outlet in Chicago involved more than just…

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