Chris Esernio ’19 pitched McDonald’s (MCD) to the Student Management Investment Fund (SMIF) on November 12, 2018. Founded in 1948, McDonald’s brand mission is to be their customers’ favorite place and way to eat and drink. With over 37,000 locations in over 100 countries and a market cap of $140 billion, McDonald’s has an enormous global influence. Forbes recently ranked the company as the 11th most valuable brand in the world and the most valuable brand in the restaurant industry. The new CEO Steve Easterbrook has led a complete transformation of the company with a franchising initiative after taking over in 2015. This strategy strives for the company to be 95% franchised in the long-term and has thus far vastly improved margins. Currently, MCD is 91% franchised and had revenues of $22.3 billion in 2017. MCD looks to continue to expand in the coffee, breakfast, and delivery segments in order to drive future growth. MCD released exceptional financial results for the third quarter of 2018, highlighted by significant same store sales growth domestically and abroad. The class voted to buy 55 shares of MCD at $184.24.