How to Buy a Wendy's Franchise

Wendy's franchiseWendy's opened its first hamburger restaurant in 1969 in Columbus, Ohio, with founder Dave Thomas promoting his daughter as an advertising symbol. By 1976, Wendy's had opened or franchised over 500 locations. The fast-food corporation claims industry innovations -- pioneering drive-through window service in 1970 and introducing the salad bar in 1979. The company continues to offer franchising opportunities from its corporate headquarters in Dublin, Ohio. Wendy's franchising rules require documentation of personal worth. The company encourages innovative development of restaurants in nontraditional commercial venues.

New Restaurant Purchase

 

Step 1

Read Wendy's corporate information online to determine if your finances meet corporate qualifications for your potential franchise. Requirements as of publication include a minimum of $1 million and liquid assets of at least $500,000.

 

Step 2

Collect your financial documents, including bank statements, tax filing documents and investment paperwork.

Related Reading: How to Buy a Hungry Howie's Pizza Franchise

 

Step 3

Meet with a bank lender or loan broker to prequalify for a business loan.

 

Step 4

Determine your ideal franchise operation. Wendy's offers franchises in traditional and nontraditional fast food locations, including college campuses, airports and office buildings. Wendy's franchises also share buildings with gas stations and highway travel plazas.

 

Step 5

Identify a desirable geographic location or make a commitment to relocate to operate your new franchise operation.

 

Step 6

Complete the online application for prospective franchisees.

 

Step 7 Interview with corporate representatives to qualify for a franchise operation.

 

Step 8

Obtain copies of Wendy's corporate franchise information and the corporate franchise disclosure document. Federal law requires the disclosure document for franchises located in all states. Corporations must allow the potential franchisee a minimum of 14 days to examine the disclosure document before asking for signatures or deposits on new franchise operations.

Step 9

Study the legally mandated franchise disclosure document and hire an attorney familiar with franchises to examine the language and disclaimers for potential problems affecting your new franchise.

 

Step 10

Discuss the available franchise locations with the corporate representatives.

 

Step 11

Complete the official application and pay the corporate franchise application fee.

Existing Restaurant Purchase

 

Step 1

Evaluate the funds you have available to purchase an existing Wendy's and your available cash for any needed remodeling to the interior and exterior of the restaurant.

 

Step 2

Meet with a bank lender or loan broker to prequalify for a franchise business loan.

 

Step 3

Complete the online application for prospective franchisees. The application requires a statement of personal worth, geographic location interest, employment experience, previous restaurant and fast food training and experience, and personal information.

 

Step 4

Interview with Wendy's corporate representatives to qualify for a franchisee opportunity.

 

Step 5

Obtain a copy of Wendy's franchise prospectus and franchise disclosure statement. Hire an attorney with business franchise experience to evaluate the documents.

 

Step 6

Visit the franchise locations to evaluate the physical condition of the restaurants. You may need to hire professionals, including plumbers, electricians and roofing experts, for advice on repairs and modifications to the current franchise. This process includes evaluating the current equipment and features of the restaurants.

 

Step 7

Examine the financial condition of the Wendy's franchises on the market. This process may require hiring an accountant to evaluate the restaurant's financial records or conducting a study to research the potential consumer market in the area around the listed franchises.

 

Step 8

Complete the official franchisee application to purchase an existing Wendy's franchise through the corporate office and pay the required application fee.

 

Step 9

Complete the loan application for the franchise and pay for your new restaurant.

 

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