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.
The image of the auditor sitting in front of a stack of spreadsheets, with a trusty calculator at the ready, is right out of central casting. So is the investigator on round-the-clock surveillance to uncover fraud or misuse of government funds.
Those techniques have their place, of course...Read More