It's true that it's locally O&O as someone else pointed out. The McDonald's corporation just likely owns the land and collects rent and a sales royalty from the owner. This is pretty standard and honestly, seems to me to be much more human than the big box retail business model where there is no local ownership of any kind.

Side note: Grocery Outlet if you're in the places they operate, is a completely franchised grocery store chain. In my experience in multiple towns, the local owners do a great job, and one near me donates to some excellent local charities.

The franchise is either locally owned and operated, or it's a corporation-owned store. McDonald's doesn't permit owner-investors as franchisees, only owner-operators (at least that was the case last I knew).