What Type of Business Is McDonald's?

Dick and Mac McDonald opened their first restaurant in 1948, with its 15-cent specialty hamburgers the staple of the menu. As of 2014, the operation has expanded to over 35,000 locations in more than 100 countries serving nearly 70 million people each day, making McDonald's the world's largest fast-food chain. The main competitors of the giant include Burger King Worldwide, Inc., Starbucks, Wendy's and Yum! Brands' Taco Bell and KFC restaurants.