How to Buy a Wendy's Franchise

The story of Wendy's goes back to 1969 when Dave Thomas opened the first Wendy's in Columbus, Ohio. In 1972, Thomas sold his first franchise, and since then, a Wendy's franchise has been a sought out business for many entrepreneurs. Follow the steps indicated to be well on your way to owning a Wendy's franchise.

Difficulty: Moderately Challenging

Instructions

1. Visit the Wendy's website to research the history of Wendy's. Look for information on their food, as well as community programs to see if Wendy's would be a company of which you would like to be a part.

2. Use the Franchise Advantage website to research the financial requirements you need to be able to meet in order to be a franchise owner of a Wendy's. Wendy's requires $500,000 in liquid assets and $1,000,000 net worth. The total investment needed to open a Wendy's franchise is $250,000 to $600,000.

3. Look up the franchise fee and royalty fee information on the Franchise Advantage website. Wendy's requires a franchise fee of $25,000 with a four percent royalty fee.

4. Contact Wendy's to get an application to become a franchise owner. You can contact them at [phone] ext. 6747 for information on opening a U.S. franchise. For a Canadian franchise, call [phone] for information.

5. Receive and fill out the application to become an owner of a Wendy's franchise. The application will ask you to submit details of your previous experience and current information on your financial holdings.

6. Speak to a Wendy's representative if you have any questions regarding the franchise system or the support you will receive as an owner of a Wendy's franchise.

7. Read and sign the franchise agreement for becoming an owner of a Wendy's franchise.

Tips & Warnings

• Franchise fees include the initial franchisee fee, continuing royalty payments, advertising fees and other expenses outlined by the franchise agreement.
• The franchise agreement will outline what type of control you, as the franchisee, have over certain decisions.
• Before signing a franchise agreement, consult a lawyer and accountant who will help you understand the risks involved with buying a franchise.
• Always investigate a franchisor thoroughly before signing any type of agreement with them.

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