50 More Things That Made The Modern Economy: Fast Food Franchise
Ep. 42/50 -
Mac and Dick McDonald were brilliant at figuring out more efficient ways to make hamburgers and French fries, but they had no idea how to run a successful franchising operation until they met Ray Kroc.
The idea of the franchise goes back a long way, but it was the fast food chains of the 1950s that gave it the form we now see everywhere from hotels to car rental firms to convenience stores. Franchising relies on a curious division of entrepreneurial labour. Why, asks Tim Harford, does it work so well?
- Produced by Ben Crighton for the BBC World Service.
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