In the late 1950s, McDonald’s executives discovered that being in the real estate business was more profitable than focusing solely on the food business. McDonald’s founder Ray Kroc had a business partner, Harry J. Sonneborn, who devised a plan to purchase or lease the land on which nearly all McDonald’s restaurants would be located. He then charged franchisees a monthly rental fee for the land, or a percentage of their sales, whichever was greater. The rest, as they say, is entrepreneurial history.
King Louis XIV of France did more than usher in a golden age of art and literature and preside over a dazzling royal court at Versailles in the 17th century. He also introduced the world to the inspector general concept, appointing agents to review his military and report back what...Read More