Bruce Kauffmann, in a History Lessons article, told a story about the history of McDonalds.
Facts are that two brothers, Dick and James McDonald were the founders of the successful hamburger chain. I remember when the Golden Arches first came to Austin, Texas, out by Capital Plaza Shopping Center. We stood in line for 19 cent hamburgers. That was in 1962.
By 1962, according to Bruce Kauffmann, Dick and James had sold the business to Ray Kroc. Ray took what the McDonalds brothers had begun, including franchising, and turned it into one of the most famous names and logos in the world.
Ray Kroc, became a multi-millionaire.
The McDonald brothers had a annual profit of $100,000 in the mid-1950’s. Pretty cushy income at the time, but nothing compared to what Ray Kroc would see over time.
My interest in this story is that the McDonald brothers, James and Dick, didn’t regret their decision to sell. They recognized themselves as entrepreneurs and visionaries and were contented with what they had begun. Bruce quotes Dick in his article, contemplating the results if they had kept their business, “I would have wound up in some skyscraper somewhere with about four ulcers and eight tax attorneys trying to figure out how to pay all my taxes.”