Name ______________________________
Ray Kroc – “Fast Food McMillionaire”
1. List some traits or qualities about Ray Kroc mentioned in this Biography that correlate to his success as an entrepreneur.
2. What was the name of the company where Ray Kroc first began working in the food industry?
3. How did he become the company’s top salesman?
4. After working at the above company for 16 years, Kroc struck out on a new food industry venture. Describe this venture?
5. In 1940, the McDonald brothers opened their McDonald’s drive-in restaurant in San Bernardino, CA. After World War II they sensed a change in their customers—we won the war, we want and deserve the good life, fast cars, fast everything. Explain how they reinvented their restaurant to accommodate the changing needs of the consumer.
6. Explain how Kroc connected with the McDonald brothers?
7. What idea did Kroc present to the McDonald brothers as a way to substantially increase their income?
8. When and where did the first McDonald’s franchise open?
9. What agreement did Kroc work out with the McDonald brothers regarding the sale of franchises?
10. Explain how Ray Kroc really made his money from selling McDonald’s franchises.
11. How many franchises did Kroc sell from 1958 to 1961?
12. What is Hamburger University and why was it created?
13. In 1961 Ray Kroc bought out the McDonald brothers. How much did he pay them?
14. What was the big obstacle with the buyout, and how did Kroc overcome the obstacle?
15. Developing new products was not Ray’s strong suit. Describe the product flop he developed.
16. In 1963, who became the spokesperson for McDonald’s on their TV commercials?
17. In April of 1965 McDonald’s became a public corporation and began selling shares on the stock exchange. What was the initial price of a share?
18. What donation mistake did Kroc make in 1972?
19. In 1974 Kroc fulfilled another dream. What did he purchase?
20. When Kroc died in 1984, how much did his wife, Joan, inherit?
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