The paper "Franchising and Entrepreneurship - McDonald's" is a perfect example of a business case study. This report is based on buying a fast-food franchise from McDonald's. The fast-food industry is estimated to generate about $570 billion which is a value higher than most of the countries’ economies (McDonald’ s, 2016). For the fast-food customers, their main focus is on the price, taste and quality. The fast-food restaurants make up the restaurant industry division known as the Quick Service Restaurants (QSR). This is a segment that makes over half of the sales in the restaurant industry.
The fast-food industry has a consistent and simple look in each of the locations (McDonald, 2004). The menu is the same in all locations with little variations based on culture and context. The menu offers cheap meals that are customized with customer tastes. McDonald's is one of the most successful fast-food restaurants in the industry. This is a restaurant whose success is based on everyone working towards a common cause. The restaurant has over 35,000 outlets in 120 countries and serves approximately 70 million customers (McDonald’ s, 2016).
The organization has one of the best franchising opportunities (Djordjevic, 2015). According to McDonald's, they believe that franchising is their predominant way of doing business (Gerhardt, Dudley and Hazen, 2012). Interest in becoming an entrepreneur Becoming an entrepreneur has been motivated by the advantages that are associated with starting a business. First, becoming an entrepreneur in the fast-food industry will lead to independence. In this case, one is able to become their own boss. I have gained experience from working as an assistant to a business start-up in the food industry. Other experience has been gained working as a crew member in a fast-food franchise.
According to Xie (2014), this is an opportunity that offers higher achievement in financial rewards than employment. When working for someone else, there are lower financial rewards and more bureaucracies.
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