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<blockquote style="position: relative; padding-left: 55px;"><section><a href="https://mastodon.green/users/pvonhellermannn/statuses/112387185395547991">Pauline von Hellermann (pvonhellermannn@mastodon.green)'s status on Friday, 15-Nov-2024 16:54:57 JST</a><a href="https://mastodon.green/@pvonhellermannn" title="pvonhellermannn@mastodon.green"><img src="https://gnusocial.jp/avatar/79671-48-20230529204223.webp" width="48" height="48" alt="Pauline von Hellermann" style="position: absolute; left: 0; top: 0;">Pauline von Hellermann</a><div><a href="https://mastodon.green/@pvonhellermannn/112381441959806464" rel="in-reply-to">in reply to</a></div></section><article><p><a href="https://mastodon.green/tags/FollowTheMoney" rel="tag">#FollowTheMoney</a> 🧵 32/n Watched “The Founder” on Netflix yesterday, about McDonalds. Really interesting- would recommend it. Particularly how the real breakthrough came when Kroc, advised by Sonneborn, went for real estate. Checked it on Wikipedia:</p><p>“McDonald's present-day real-estate holdings represent $37.7 billion on its balance sheet, about 99% of the company's assets and 35% of its annual gross revenue.”</p><p><a href="https://en.wikipedia.org/wiki/History_of_McDonald%27s" rel="nofollow noreferrer">https://en.wikipedia.org/wiki/History_of_McDonald%27s</a></p></article><footer><a rel="bookmark" href="https://gnusocial.jp/conversation/3038284#notice-7823117">In conversation</a><time datetime="2024-11-15T16:54:57+09:00" title="Friday, 15-Nov-2024 16:54:57 JST">about 13 days ago</time> <span>from <span><a href="https://mastodon.green/@pvonhellermannn/112387185395547991" rel="external" title="Sent from mastodon.green via ActivityPub">mastodon.green</a></span></span><a href="https://mastodon.green/@pvonhellermannn/112387185395547991">permalink</a><h4>Attachments</h4><ol><li><label><a rel="external" href="https://gnusocial.jp/attachment/3491920">In 1956, Ray Kroc met Harry J. Sonneborn, a
former vice president of finance for Tastee-
Freez, who offered an idea to accelerate the
growth and investment grade of Kroc's
planned McDonald's operation: to own the
real estate upon which future franchises
would be built. Kroc hired Sonneborn and his
plan was executed by forming a separate
company, Franchise Realty Corp, to hold
McDonald's real estate. The new company
signed leases and procured mortgages for
both land and buildings, passing these costs
on to the franchisee with a 20-40% markup
and a reduced initial deposit of $950. [12][131
The "Sonneborn model" of real-estate
ownership within the franchise persists to
this day, and may be the most important
financial decision in the company's history.
McDonald's present-day real-estate
holdings represent $37.7 billion on its
balance sheet, about 99% of the company's
assets and 35% of its annual gross revenue.</a></label><br><a href="https://files.mastodon.green/media_attachments/files/112/387/185/175/612/324/original/a4e12f54270965cb.jpeg" rel="external">https://files.mastodon.green/media_attachments/files/112/387/185/175/612/324/original/a4e12f54270965cb.jpeg</a></li></ol></footer></blockquote>

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Pauline von Hellermann (pvonhellermannn@mastodon.green)'s status on Friday, 15-Nov-2024 16:54:57 JST Pauline von Hellermann
in reply to
#FollowTheMoney 🧵 32/n Watched “The Founder” on Netflix yesterday, about McDonalds. Really interesting- would recommend it. Particularly how the real breakthrough came when Kroc, advised by Sonneborn, went for real estate. Checked it on Wikipedia:
“McDonald's present-day real-estate holdings represent $37.7 billion on its balance sheet, about 99% of the company's assets and 35% of its annual gross revenue.”
https://en.wikipedia.org/wiki/History_of_McDonald%27s
In conversationabout 13 days ago from mastodon.greenpermalink
Attachments
1. In 1956, Ray Kroc met Harry J. Sonneborn, a former vice president of finance for Tastee- Freez, who offered an idea to accelerate the growth and investment grade of Kroc's planned McDonald's operation: to own the real estate upon which future franchises would be built. Kroc hired Sonneborn and his plan was executed by forming a separate company, Franchise Realty Corp, to hold McDonald's real estate. The new company signed leases and procured mortgages for both land and buildings, passing these costs on to the franchisee with a 20-40% markup and a reduced initial deposit of $950. [12][131 The "Sonneborn model" of real-estate ownership within the franchise persists to this day, and may be the most important financial decision in the company's history. McDonald's present-day real-estate holdings represent $37.7 billion on its balance sheet, about 99% of the company's assets and 35% of its annual gross revenue.
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