In 1929 two brothers Maurice and Richard who were curious to venture into business left their native to plough their land of business in California. Theatres being their first venture made a huge loss even after striving for four years. Having lost all their money, made them hunt for new business. After a series of failure, in 1948 they landed into restaurants with a small hot dog shop and named it the "Speedee Service System" and first established the principles of the modern fast-food restaurant of the era. Pioneers of the mascot of a man with a chef's hat on top of a hamburger shaped head, whose name was "Speedee”. In the next 5 years they were the richest families in town with annual sales of $200,00 per year. Having fetched $100,000 per year in 1954 brothers sold the company patent to Ray Kroc. Ray took over the restaurant and started franchising on his own. In 1955, Architect Stanley Meston who designed the logo of the restaurant with an attention grabbing red building with golden arches was a super hit. In 30years after its birth, the restaurant had its 100th branch in Fond du lac in 1959. From then on the restaurant has grown to its unbelievable1 height. Now having 32,000 restaurants, generating annual revenue of US $24.075Billion with 400,000 employees is a mile stone and a great initiative. Having been in loss for more than 10years in various fields, the brothers had the courage to fight back. To be the pioneer in fast food industry; using new marketing strategies to sell the brand; using mascots to attract; logo which no other company dare to design a creative and attention grabbing one.
Great entrepreneurs are not born brilliants but developed one; one such example is this brothers who thrived hard to venture into an innovative and clever business with a minimal investment. Not to forget Ray Kroc the man who made the restaurant into a huge food chain all over the world.
If you are still wondering of whom I am talking about, it is the ever favorite Mc Donald’s!!!
