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He bought out the brothers in 1961 for $2.7 million, the equivalent of about $28.5 million today. Here's a timeline showing how Ray Kroc built McDonald's from a small burger joint to a global fast ...
Raymond Albert Kroc (October 5, 1902 – January 14, 1984) was an American businessman. He obtained the fast food company McDonald's in 1961 from the McDonald brothers and was its CEO from 1967 to 1973.
From the 1940s to the mid-1950s, the brothers expanded their business, even incorporating the famous golden arches, until Ray Kroc turned their small business into the well-known and commercially successful business it is today. Kroc convinced the brothers to move into a more self-serve business model and to expand nationwide.
The brothers drew the attention of Ray Kroc, a milkshake mixer salesman for Prince Castle. [11] After they purchased eight of his Multi-Mixers for their San Bernardino, California restaurant, Kroc visited that restaurant in 1954. [12] That year the McDonald brothers hired Kroc as their franchise agent.
Bill Haber/APJ.K. Rowling was 32 before her first book was published. As I fast approach my 30s, I find myself tabulating what I've accomplished in the 27 years of my life. I'd like to believe ...
At a later point in the plot in this same movie, Fred Turner has a much larger presence, during Ray Kroc's successful attempts to open up McDonald's restaurants in the Twin Cities area in Minnesota. He is also amply portrayed in season 2, episode 12 "Game of Chicken" of The History Channel series The Food That Built America .
It opened under the aegis of his franchising company McDonald's Systems, Inc., which became McDonald's Corporation after Kroc purchased the McDonald brothers' stake in the firm. Kroc's restaurant was the first McDonald's built in a colder climate, and some adaptations were made to the design, including a basement with a furnace.
Today, as a 248-year-old enterprise, it continues to be a beacon of innovation and opportunity. Immigrants have been at the heart of this success story, shaping industries, creating millions of ...