Do You Know Who Ray Kroc Is?
Few people will be able to give me an answer to this one right away. For his name isn't well known at all.
He kept himself low key on purpose so that his company's brand name would prosper rather than anything else.
It is well said that the total is always more than the sum of its parts.
Ray Kroc is the founder of McDonald's Corporation.
Maybe now you will remember his name far into the future. He passed away back in 1984 but founded what has become a legacy in the restaurant industry of the entire world.
What's even more surprising is that most people don't know what the real business of McDonald's is.
No, I am not talking about their fast food operations. Far from it. Though it's still connected to the same business.
McDonald's owns Billions and Billions of dollars worth of real estate.
Each time someone buys a franchise of this fast food giant, they give the parent company more money to buy prime location land.
At one point it was estimated that the value of property owned by McDonald's was almost equal to that which was owned by the Roman Catholic Church.
Now that's some serious money we are talking about.
Ray Kroc wasn't the one who started the chain of restaurants in the first place.
The company that would eventually become the McDonald's Corporation was started way back in the 1940s.
But it was only in the late 1950s that Ray Kroc invested sizable capital to help found the corporation that is today one of the world's largest companies.
He helped secure over 20,000 franchisees for McDonald's while he was still alive.
Everyone with a Million bucks (or more) was keen to invest in his fast food company anyway.
Now the company he helped expand has locations all over the world almost.
A whopping total of over 37,000 locations in over 120 countries and a sizable proportion of these outlets are still owned by his corporation.
Ray's aggressive expansion and marketing tactics help build a colossal food empire that not a single person in the restaurant industry can ever forget.
That is unless they suffer from amnesia.
Only 'Subway' has more fast food chains than McDonald's (around 42,000).
During the 1970s he retired from active work in his company and bought a baseball team which he owned until the day he died.
However, he was constantly in touch with his company's purpose and objectives even after retirement.
Such was his deep passion for his vocation.
He was instrumental in setting up the Ronald McDonald's Charity House and has given Millions of dollars to charitable causes during his lifetime.
His ways of quickly and rampantly expanding the McDonald's' fast food chains all over the world is an important part of any management student's education syllabus.
His franchisees were always given a larger share of the profits since he believed that they deserved it for putting so much faith in the company.
He was obviously smart enough to know that a tiny share of the profits from over 30,000 outlets will certainly rake in the hundreds of Millions of dollars in no time. And he wasn't wrong.
But, yet, not many people know Ray Kroc.
He help build the largest fast food chain on earth while he was past his 50s.
He passed away when he was 81 years old after building a mammoth fortune during his lifetime.
There is little doubt whether the name of his corporation will be forgotten anytime soon.
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