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.
Two times a year, we publish a chronicle of our work and activities for a just-ended 6-month period. This Semiannual Report to Congress (SARC) is required by the IG Act, but it’s also a chance for us to share a summary of work with our many stakeholders, including the public. The work reflects...Read More