McDonald's is the largest fast food chain in the world with over 36,000 outlets in 118 countries serving 69 million customers daily. Founded in 1940 as a barbecue restaurant, McDonald's was purchased by Ray Kroc in 1955 who expanded it into a franchise business model. McDonald's earns revenue through restaurant operations and franchising. It focuses on families and uses Ronald McDonald and other branding elements to build strong brand recognition globally. While very successful, McDonald's faces risks from health concerns over obesity and changing consumer preferences towards healthier options.