McDonald's Boosts Franchisee Requirements and Seeks to Bolster Diversity [Business News Network (BNN) (Canada)]
McDonald's Corporation (MCD)
Last mcdonald's corporation earnings: 4/30 06:58 am
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Source: Business News Network
The company will standardize the way it reviews applications for all potential franchisees. Previously, the children and spouses of existing operators were reviewed separately from new applicants. McDonald's will also assess its franchise operators every 20 years, evaluating restaurant owners based on factors like performance to determine whether their agreements should be renewed. If franchise owners want to manage more locations, McDonald's will review those requests separately from its assessment of agreement renewals. “This change is in keeping with the principle that receiving a new franchise term is earned, not given,” Joe Erlinger, President of McDonald's USA, said of the changes in a letter to franchise owners. McDonald's declined to comment on the message to its franchisees. The announcement is part of the burger chain's larger push to drive diversity. In December, the company said it would provide $250 million to help finance loans in the US for potential restaurant
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MCD
Earnings
- 2/5/24 - Beat
MCD
Sec Filings
- 4/23/24 - Form 144
- 4/23/24 - Form 4
- 4/18/24 - Form PX14A6G
- MCD's page on the SEC website