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t sight of was the location of each franchise。 He knew that the real estate and its location was the most significant factor in the success of each franchise。 Basically; the person that bought the franchise was also paying for; buying; the land under the franchise for Ray Kroc's organization。
McDonald's today is the largest single owner of real estate in the world; owning even more than the Catholic Church。 Today; McDonald's owns some of the most valuable intersections and street corners in America; as well as in other parts of the world。
Keith said it was one of the most important lessons in his life。 Today; Keith owns car washes; but his business is the real estate under those car washes。
The previous chapter ended with the diagrams illustrating that most people work for everyone else but themselves。 They work first for the owners of the pany; then for the government through taxes; and finally for the bank that owns their mortgage。
As a young boy; we did not have a McDonald's nearby。 Yet; my rich dad was responsible for teaching Mike and me the same lesson that Ray Kroc talked about at the University of Texas。 It is secret No。 3 of the rich。
The secret is: 〃Mind your own business/' Financial struggle is often directly the result of people working all their life for someone else。 Many people will have nothing at the end of their working days。
Again; a picture is worth a thousand words。 Here is a diagram of the ine statement and balance sheet that best describes Ray Kroc's advice:
Most people
Your Profession …》 Your Ine
The Rich
Your Assets …》 Your Ine
Our current educational system focuses on preparing today's youth to get good jobs by developing scholastic skills。 Their lives will revolve a