The 12 percent royalties McDonald's Corp. collects from its franchisees represent twice what the franchisee earns in profit, according to Rensi's math. A lower royalty fee could be used to pay for higher wages without affecting prices or stores owners' profits, but it would drive down the company's profits and shareholder dividends. McDonald's Corp. earned between $4.31 billion and $5.59 billion in annual profits since 2008.
