.It is better sometimes to be a shareholder than franchisee Let’s see:If I have a restaurant that has $333,000 in cash flow an I sell for six times cash flow receive $2,000,000 (for example purposes not taking in account taxes or other related costs) or to say my asset is worth $2,000,000, generates $333,000 in cash flow before any G&A. Now if on May 1st, 2017 I would have sold that asset purchased 13,986 shares of MCD stock at a cost of $143, price May 1st, 2017 I would have received in the last year $89,090 in dividends and my equity value would have increased $279,720 as my 13,986 shares of MCD stock are now worth $163 per share, so I have made $368,810 in total, far better than running a restaurant and all that goes with that.
I am not sure what Kevin Ozan is looking at when he says “Favorable shifts in product mix” with the $1, $2, $3 menu my gross profit is down 1.5% since unfavorable shifts in product mix to $1, $2, $3 Dollar Menu items; Kevin goes on to mention "$1, $2, $3 Dollar Menu was a key factor in higher check for the quarter"; again my average check is down versus previous quarter, 4th Qtr.2017. Yes, average check is up 1st Qtr. 2018 vs 1st Qtr. 2017 but that is just because our prices are higher.
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