According to NASDAQ: WEN they are the world’s third largest quick service hamburger company. To us this is known as a fast food restaurant. Wendy’s has more than 6,500 restaurants in the United States and 27 other United States territories in the world. When Dave Thomas opened the first Wendy’s restaurant in Ohio in 1969 he vowed to have quality food. That is why today, that they still serve the best quality foods around that is made to order.
The corporation started out as a small drive-through in 1948 by brothers, Dick and Mac McDonald. Raymond Albert Kroc, a salesman, saw a great opportunity in this market and advised Dick and Mac to expand their operation and open new restaurants. Mr. Kroc bought out the McDonald brothers in 1961. By 1967 McDonalds expanded its operations to countries outside the U.S.A. This unyielding expansion led the Corporation to open 23,000 McDonald's restaurants in 110 countries in 1994, producing $3.4 billion in annual revenues.
Many of the large fast food restaurants that we as Americans are familiar with are McDonald’s, Burger King, Taco Bell, Subway, and Kentucky Fried Chicken, but they do not end here. These restaurants, regardless of the controversy they cause in America, have become very popular across the world. The National Restaurant Association reported that in 2006 the global fast food market grew by 4.8 percent and reached a value of 102.4 billion and a volume of 80.3 billion transactions (Duram). Being that there are only seven billion people in the world, 80.3 billion fast food purchases between customers and restaurants is a great amount of transactions. We can closely the study the globalization of American fast food restaurants around the world and the impact they have had on other cultures.
Analysis: Cause and Effect Over 50% of quick service restaurants (QSR) traffic today is via the drive-thru lanes ("Ways to improve," 2012). Drive-thru customers all have the same expectations: speed, accuracy, quality, and service. Why does McDonald’s utilize the dual drive-thru platform? Having the dual drive-thrus speeds up service and allows for more orders to be taken. If a customer arrives at the drive-thru and sees a long line, they are more likely to drive away.
On average, a burger at GBK costs nearly £8. In 2007, GBK had just 28 restaurants in the UK, most of which were located in the Greater London area. The company has already won several ‘Best Burger’ and ‘Best Eats’ awards in the capital. The management of GBK has set an objective of growth. In five years’ time they want to have 350 restaurants in the UK.
Giving him the opportunity to open his 2nd restaurant in 1995 with just the profits from his first restaurant. By the end of 1998 he had already opened 14 restaurants from his profits and an SBA loan to fund more growth, all 14 restaurants located in Denver. Expansion (investors) In 1998, McDonalds invested 360 million dollars to expand the chain nationwide at this point McDonald’s owned 90% of chipotle stake. This investment helped chipotle expand from 14 restaurants to over 500 by the end of 2005. Since chipotle was adding at least 100 restaurants a year the CEO of McDonald’s thought it was too much work so in 2006 McDonald’s cashes on its investments and walks away with 1.5 billion dollars.
Kotler, the father of marketing, defines marketing as:” an administrative and social process through which individuals and groups obtain what they need and desire by the generation, offering an exchange of valuable products with their equals” (Kotler & Keller, 2014). Yum! Brands Inc., a US-based global company, is one of the top leaders of the chicken, pizza, and Mexican-style food groups. With their brands –KFC, Pizza Hut and Taco Bell- Yum! Brands on average, opens over six new restaurants per day.
Case Study 2: McDonald’s “Seniors” Restaurant Current Strategies & Results McDonald’s is one of the world’s leading fast food chains operating about 32,478 restaurants around the world restaurants (Business Week, March 8th, 2010). Fortune magazine ranked McDonald's #1 for social responsibility in 2007’s list of Most Admired Food Service Companies (Fortune, 2007) also # 1 in terms of people management in 2009 (Fortune, 2009) . Quinn took number of steps in accordance with McDonald’s corporate philosophy of giving back to the communities it serves. Monthly Special. Every 4th Monday of the month, the restaurant offers breakfast specials for people aged 55 and older.