McDonald's - additional information
McDonald’s is undoubtedly the most well-known fast-food chain worldwide. Starting out as a barbeque restaurant set up by brothers Richard and Maurice McDonald in California in 1940, the foodservice company soon evolved into a humble production-line style burger stand. Since then, McDonald’s has grown into a global giant with increasing numbers of stores year-on-year – in 2016, McDonald’s had 36,899 restaurants worldwide. McDonald’s was by far the most valuable fast food brand in 2016. With a brand value of more than 88 billion U.S. dollars, the company outpaced its closest competitor, Starbucks, by approximately 50 billion. That year, McDonald’s was also the ninth largest brand overall worldwide.
In 2016, McDonald’s generated revenues of more than 24 billion U.S. dollars, the largest proportion of which came from the U.S. Despite the company’s revenue success, McDonald’s received a lower than average American Customer Satisfaction Index score for several consecutive years leading up to 2016.
Competition is something McDonald’s will have to get used to, especially in the huge and ever-growing fast food industry in the United States. In 2016, McDonald's was the most familiar restaurant chain among U.S. consumers.