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.

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.