Legal Structure of McDonald's Corporation
There are many different categories of business in the world today. McDonald's brand franchisees operate as part of a corporation. The company, comprised in part of restaurants run by independent entrepreneurs, is currently considered one of the worlds most successful and largest franchising companies every created. Seventy percent of McDonald's restaurants are owned and operated by independent owners.
This corporate business structure has resulted in substantial opportunities for individual business owners and for the corporation as a whole. The legal structure of McDonald's is discussed below, as well as the advantages and disadvantages McDonald's corporation has over other legal business entities. Though McDonald's corporation operates slightly differently than other corporations in the world today, it remains one of the world's leading retailers, a testament to its strong legal structure.
Legal Aspects Of A Franchise
McDonald's successfully operates as a franchisee corporation. There are many legal components of a franchise agreement. A franchisee must negotiate contractual points, address trade secrets, limit personal liability, establish a trade name and learn about state statutes (Obringer, 1). For an independent operator to own a McDonald's he or she must first qualify to own a conventional franchise, meaning they must have roughly $175,000 worth of capital (Obringer, 1).
The costs of opening a restaurant exceed $400,000 dollars, and an owner has to have forty percent of these funds initially. McDonald's first assessed a franchisee fee, then engage in rigorous training to learn the ins and outs of McDonald's service quality standards, formulas and specifications. As a bonus, once training is complete you can operate in a pre-selected location with a completed exterior. The...
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