Lovin’ It All Over

Friday, December 28th, 2007

George Will talks about the amazing economic engine that is McDonald’s, in Lovin’ It All Over:

McDonald’s exemplifies the role of small businesses in Americans’ upward mobility. The company is largely a confederation of small businesses: 85 percent of its U.S. restaurants — average annual sales, $2.2 million — are owned by franchisees. McDonald’s has made more millionaires, and especially black and Hispanic millionaires, than any other economic entity ever, anywhere.

McDonald’s has 14,000 restaurants in America and an additional 17,000 in 117 other countries. The company will add 1,000 others in 2008, more than 90 percent of them abroad. Such is the power of the McDonald’s brand, 48 percent of the people of India were aware of McDonald’s before it opened its first restaurant on the subcontinent.

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