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TIME Magazine November 3, 1961, p. 81:
Meat, Potatoes, and Money
In Rockford, Ill., one noon hour last week, a cooked-out housewife packed her three small children into the family car and set her course for a peppermint-striped glass-and-tile structure boasting a huge sign: MCDONALD'S HAMBURGERS. Stepping up to the self-service window, she ordered four hamburgers and milk shakes. Just 41 seconds and $1.40 later (hamburgers, 15¢; shakes 20¢), she was on her way back to her waiting brood carrying an instant lunch.
On the strength of such low-priced assembly-line feeding, Ray A. Kroc, 59, has built his Chicago-based McDonald's Corp. in less than seven years from a company on paper with $1000 in assets into the nation's largest drive-in chain-- a string of 294 highway stops stretching from Connecticut to California. The McDonald menu is rigidly limited: besides hamburgers and milk shakes, McDonald drive-ins offer only French fried potatoes (10¢) and soft drinks (10¢ and 15¢). But on this limited bill of fare, they expect to ring up sales of $60 million this year, enough to give McDonald's Corp. estimated pre-tax profits of more than $4,000,000. More McDonald outlets are popping up fast (new openings this week: Albuquerque, Atlanta, and Durham, N.C.).
...Kroc spent 17 years selling paper cups and then Multimixer milk shake makers. One day in 1954 he stopped at a drive-in run by two brothers named McDonald in San Bernadino, Calif. Impressed by their efficient operation, Kroc struck a bargain with the brothers: in return for use of the McDonald name and techniques, he agreed to pay them 0.5% of all future sales of what he already envisioned as a nationwide chain of franchised drive-ins.
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