November 5, 2019
70 | How McDonald’s manages to be one of the world’s most valuable brands. Part 1 – with Usman Tahir Jutt
Why you’ve got to listen to this episode:
McDonald’s is the biggest restaurant chain in the world by revenue. It is ranked nine on the Best Global Brands ranking* ahead of Disney, Starbucks, Lego and other iconic brands.
According to a 2019 study by Statista, McDonald’s brand value is estimated at over $130 billion dollars. Almost three times more than number two, Starbucks, on the “fast food” category. Competitors such as Burger King are nowhere near MacDonald’s and others don’t even appear on the list.
So how does a brand who regularly receives harsh criticism (remember “Super-Size Me” and “Fast food Nation”?) have such high brand value? And how do they keep their brand integrity and consistency in over 37,000 restaurants in 120 countries?
Consistency is the main factor attributed to McDonald’s success, but consistency alone will not determine success, after all, you can be consistently providing the wrong experience or product. So, what is it that McDonald’s is doing to achieve this level of success despite all the criticism?
To get the answers to these questions, I interview Usman Tahir Jutt. In 2013 Usman became McDonald’s Canada youngest owner and operator. Today Usman has several McDonald’s restaurants and employ over 1,000 people.
In the next two episodes, I talk to Usman about his journey, and why he picked McDonald’s as the brand to engage with.
In this episode, we find out about Usman’s story. How he managed to become a highly successful entrepreneur despite dropping out of college and having very limited financial means, and why he picked McDonald’s as a brand he wanted to represent.
Who can benefit from listening in:
McDonald’s is a massive brand from many perspectives, revenue, global reach and brand recognition amongst some. But, like many brands, McDonald’s started with one location and the decisions they made lead the brand to where it is today.
The decisions McDonald’s made in the beginning certainly placed the brand on the right path, but how has the brand maintained success through the years?
To find out the answers to these questions we need to learn more about Usman and how the process McDonald’s uses to carefully select business owners and operators to become part of the brand.
Stay tuned to episode 71 where Usman walks us through the selection and training process McDonald’s uses. How they ensure they have the right people and provide the right training and support to immerse them in the brand. Not easy when you are in 120 countries.
Key takeaways from this episode:
- To be successful in business you need to know what you’re good at and what you’re not.
- Strategy is key but it only works if you’re disciplined enough to follow the strategy and stay with the plan.
- Opportunities can be seductive, but you need to evaluate them and if be courageous to say no when it’s not suited to you and your plan.
Links to resources mentioned in this episode
- Chirp Foods
- Usman Tahir Jutt Twitter
- Usman Tahir Jutt LinkedIn
- Top 40 under 40
- Alberta Podcast Network
- Park Power
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