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About Arby’s:
Arby’s is a fast food restaurant chain in the United States and Canada that is a wholly owned subsidiary of Wendy’s/Arby’s Group. It is primarily known for selling roast beef sandwiches and curly fries. The company’s target market attempts to be more adult-oriented than other fast food restaurants. The Arby’s menu also includes chicken sandwiches, appetizers, salads, Market Fresh (deli-style) sandwiches, wraps, and submarine sandwiches. Its headquarters is in Sandy Springs, Georgia.[4][5]
There are more than 3,600 Arby’s restaurants. As of December 30, 2010, there were 1,169 company-owned restaurants, 2,367 franchised and 125 international locations, principally in Canada. There are also locations in Qatar Turkey and the United Arab Emirates[2] They also have six multi-branded Pasta Connections. In 1998, an Arby’s franchisee opened a restaurant in Colonial Heights, Va., that featured the regular Arby’s menu, plus Mexican, rotisserie chicken/vegetable, and Eskimo Pie lines. It, along with the other “prototype” in the West End of Richmond, is the biggest Arby’s in the world. They both feature the expansive menus and have elegant interior design and spacious seating and expansive ceilings.
Arby’s was founded in Boardman, Ohio in 1964 by Forrest and Leroy Raffel, owners of a restaurant equipment business who believed there was a market opportunity for a fast foodfranchise based on a food other than hamburgers . The brothers wanted to call their restaurants “Big Tex,” but that name was being used by an Akron business. Instead, they chose the name “Arby’s,” based on R.B., the initials of Raffel Brothers*.[6]
The Raffel brothers opened the first new restaurant in Boardman, Ohio, just outside , on July 23, 1964. They initially served only roast beef sandwiches, potato chips and soft drinks. A year later, the first Arby’s licensee opened a restaurant in Akron, Ohio . The famous Arby’s “hat” was designed by the original signmakers, Peskin Sign Co.[7] (it continues to make signs for Wendy’s/Arby’s Group). Expansion to other states began in 1968, beginning in Pittsburgh (the closest large out-of-state market to Youngstown) and Detroit. The restaurants were initially designed to be more upscale than their hamburger competitors.
During the 1970s, the expansion of Arby’s took place at a rate of 50 stores per year. During this time it created several menu items, including the Beef ’n Cheddar, jamocha shakes, curly fries and two signature sauces: Arby’s BBQ sauce and horsey sauce. By 1981 it added chicken along with opening store number 1,000. It became the first restaurant in the fast food industry to offer a complete “lite” menu in 1991 with several sandwiches and salads under 300 calories and 94 percent fat free. [6]
On April 24, 2008, Wendy’s announced that it would sell itself to Triarc. According to the New York Times, the stock swap would go for $2.3.[8] Triarc planned to change its corporate name to include the Wendy’s name. The headquarters of both Wendy’s in Dublin and Arby’s in Atlanta would stay in place with Wendy’s/Arby’s Group, Inc., as the new corporate name and headquarters was also left in Atlanta.[6]
Wendy’s/Arby’s and its Arby’s franchise subsidiary, Arby’s Restaurant Group, are the largest owners of Arby’s franchises. As stated in the 2007 Annual Report, ARG plans on opening 50 new stores for themselves on top of the over 300 franchise locations that are currently opening, proposed, or under development by franchises.[2]
While the chain has not been based in the Youngstown area for many years, the chain still has a major presence in the area, including a location on the campus of Youngstown State University as well as numerous sponsorship deals and events within the area. Today the Youngstown market serves as a test market for several products, including breakfast(only available at select locations) and the Roastburger lineup that was introduced in the area in November 2008, three months before its national roll-out.
The nearby Pittsburgh area is also a major market for Arby’s, where for decades was the only overlapping area with Northeastern fast-food chain Roy Rogers Until Hardee’s unsuccessful purchase of Roy Rogers in 1990, Arby’s had a very minimal presence in the Baltimore/Washington, D.C.area. However, since Roy Rogers’ rapid decline after the Hardee’s takeover (the two restaurants were separated when their parent company at the time, Imasco, sold Hardee’s to Carl’s Jr.in 1997), Arby’s has since expanded its presence in these markets.
In January, 2011, it was announced that Wendy’s/Arby Group were looking into selling off the Arby’s side of the business to focus on the Wendy’s brand.[9] It was officially announced the companies had split on January 21, 2011. [10]
Wendy’s/Arby’s Group, Inc(NYSE: WEN) is a holding company for two major fast food chains, Arby’s and Wendy’s. Wendy’s/Arby’s Group has its headquarters in Sandy Springs, Georgia.[3][4]
The company’s principal subsidiaries, Arby’s Restaurant Group, Inc. (ARG) and Wendy’s International, are the franchisors of Arby’s and Wendy’s restaurants, respectively. As of June 2008, the combined company has over 10,000 restaurants in both chains. There were a total of 3,719 Arby’s restaurants in the system, including 1,169 Company-owned and 2,550 franchised locations. There were 6,625 Wendy’s restaurants in operation in the United States and in 21 other countries and territories. Of these restaurants, 1,402 were operated by Wendy’s and 5,223 by Wendy’s franchisees.[5] The company is also a franchisor of T.J. Cinnamons and the Pasta Connection and owns 243 T.J. Cinnamons outlets and 6 Pasta Connection outlets.
Fee simple single tenant Arby’s triple net lease for 1031 exchange.
