Why is McDonalds so Successful?
If you compare a Mcdonalds burger to other fast food chains, it is obvious that the quality is lacking. So why is McDonalds so popular?
One of the foremost reasons for McDonalds popularity is its convenience. It seems there is a McDonalds on every street-corner, drawing you in with its quick and easy drive-thru. This is part of the reason McDonalds is the most successful fast food franchise in the world, raking in 23 billion dollars a year. However, convenience is not the only appealing quality about this restaurant chain.
Low prices also draw in customers. With limited income, people must choose between a 3 dollar hamburger from a locally owned restaurant or a 1 dollar burger from McDonalds. Especially in low-income urban areas, the choice is obvious. This is part of the reason that the fast food chain is most popular in low-income cities and towns. Although many people would rather support a family business, the population of people with enough money to do so is shrinking dramatically as our economy spirals down.
Basically, the convenience and pricing makes McDonalds the supreme choice for hungry people worldwide.
But has McDonalds profit been increasing or decreasing, and why?
Baertlein, Lisa. “McDonald’s Profit Boosted by U.S., Europe.” Reuters. Thomson Reuters, 20 Apr. 2012. Web. 30 Apr. 2012. <http://www.reuters.com/article/2012/04/20/us-mcdonalds-idUSBRE83J0P020120420>.
McDonald’s Profits on Value Meals. Reuters. Web. <http://www.reuters.com/video/2012/04/20/mcdonalds-profits-on-value-meals?videoId=233710662>.
“Top 100 Global Franchises – Rankings.” Top 100 Franchises. Web. 30 Apr. 2012. <http://www.franchisedirect.com/top100globalfranchises/rankings/>.