Very good. The investment guy I heard explained that McDonalds is essentially a real estate company. Think about it; you see little signs in nearly every fast food place you walk into that say something like this: "This McDonalds (Wendy's, Burger King, etc.) is an independently owned and operated franchise..." The parent corporations don't own these places; they sell the right to operate a restaurant to people. Those people pay a franchise fee for the option to open a restaurant where the parent company allows them to, and then they pay the parent money every month for that right. McDonalds doesn't sell food; the franchises (which they don't own) sell food. McDonalds is one of the costliest franchise licenses to purchase and they are also one of the most stringent as to where you can open a restaurant. They manage real estate and collect fees from their franchisees; that's how the corporation makes money.
Those are beds, not cardboard tubes....
