Buying a Wendy’s Franchise
The Wendy's Franchise is considered one of the most popular franchise options in the country, and currently the third largest.
The establishments offer great food, excellent service and a profitable income margin.
Wendy’s is considered as one of America’s most favorite food chains and has establishments all over the country, home based in Dublin, Ohio and with more than 6,600 franchises worldwide. The restaurant brand establishes quality food and service therefore adding to the overall credibility of the Wendy’s franchise as a label. The franchise system follows an effective business plan and strong support system that aims to not only educate the franchise owners in proper managerial skills for the business but also develop a bond and brainstorm on innovations and advancements that will aid in the overall development of the company.
Dave Thomas opened the first Wendy’s Restaurant in 1969 and this restaurant was named after one of his daughters. It has been franchising since 1972 and the company has since expanded to several different branches all over the country and then globally, between 1988 to 1990 having more than 6,500 locations in 31 countries.
The Wendy’s franchise is not a sure roadway to success as it still depends on the business owner on how he will bring the company to greatness. Therefore consider the franchise as s blueprint to guide you through the necessary steps into proper business management through the utilization of a proven business model under a well established company.
The Wendy’s Franchise requires a net worth of at least $1,000,000 with $500,000 in liquid assets. The total investment is therefore around $250,000 to $600.000. Currently 77% of the establishments are franchised and the number continues to grow through the years. The initial franchise fee is at $25,000, with a required capital of $250,000 and the royalty fee is at 4%. The company does not offer financing, therefore one must consider third party companies if he or she is interested in financial support. Training is available both on base and at location and the available territories are at California, Kansas and Massachusetts.
Review on the franchise information and decide whether or not you want to apply for the franchise. Once you have decided, contact Wendy’s and request for their franchising application form. Fill in accordingly with your credentials and other important details. After you have filled up and submitted your form you will need to wait until they have reviewed your application, after which you will be called in for training once accepted. With the Wendy’s franchise you are obliged to discuss certain areas of the franchise agreement according to what you see fit. With this you will need to thoroughly review through all the information and assess as well if you are capable of managing the business according to the requirements of the franchise and even apply your own ideas and tastes.
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