Precis: Fast Food chains attract people and people with more money can escape most fast food and franchises such as fast food places get so popular because so many people invest in them.
Gems:
"At the heart of a franchise agreement is the desire by two parties to make money while avoiding risk" Page 94
When becoming a franchise with a restaurant it only cost a third of what it would cost if one wished to become a franchise with McDonald's.
"Tell me friends, in your lifetime, have you ever been on a diet?" page 107
Thoughts:
Fast food franchises are great ideas as long as new and more popular franchise doesn't take over
People who work in these franchises get the short end of the stick because most of the workers are minorities, and teens.
If McDonald's changed there appearance and the there setting but kept the menu and the service the same maybe they would attract different people. Instead of a fast food "look" they could look like a Red Lobster
Chapter 5: Why the fries taste so good
Precis: If we all follows trends such as franchise's it will be harder to make money and be successful.
Gems:
"The fast food companies purchase frozen french fries for about 30 cents a pound, reheat them in oil, then sell them for about 6$ a pound" Page 117
"The fallacy of composition" is a logical error page 119
"If potato farmers don't band together they'll wind up sharecroppers" (Pg.119)
Thoughts:
All costumers of McDonald's are being ripped off in price
Why don't people pay this much attention to bagel shops or donut shops?
What would it take for the farmers supplying the potatoes to boycott McDonald's?
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