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Wendy’s – The Renowned Multinational Fast Food Restaurant
The Wendy’s Company is the world’s third largest quick-service hamburger company. The Wendy’s system includes approximately 6,500 franchise and Company-operated restaurants in the United States and 28 countries and U.S. territories worldwide. Like many of its peers, including McDonald’s Corp. and Restaurant Brands International Inc. unit Burger King, Wendy’s has been trying to achieve a more stable cash flow and higher profits by selling its company-owned restaurants to franchisees.
Wendy’s is a multinational fast food restaurant chain. This American multinational company has its headquarters in Dublin, Ohio. Located in more than 65,000 places, Wendy’s had the third largest hamburger fast food chain in the world till 1999. More than 47,000 people found a job in this firm, across the globe. The sales of the company stood $2.46 billion in 2006.
Its current market value
The Wendy’s Company preliminary fourth quarter and full-year results include the favorable impact of a 53rd operating week, which resulted in $19.2 million in incremental sales, approximately $6.0 million in incremental franchise royalty revenue, and approximately $7.0 million in incremental operating profit in 2015. Net income was $85.9 million in the fourth quarter of 2015, compared to $23.3 million in the fourth quarter of 2014. These results include the impact of discontinued operations. It remains on track with its plan to reduce its company-operated restaurant ownership to roughly 5% of the total system by the end of 2016. It intends to sell 315 restaurants to franchisees this year.
Also, it posted a profit of $26.5 million, down from $40.2 million a year earlier, in the quarter. Its per-share earnings fell a penny to 10 cents on a much lower share count following last year’s $1 billion stock buyback. Excluding certain items, earnings from continuing operations rose to 10 cents a share from eight cents a share a year earlier. Moreover, its revenue slid 22% to $382.7 million, mostly owing to the ownership of 361 fewer company-operated restaurants in the period. Analysts had expected nine cents a share in earnings on revenue of $368 million, according to Thomson Reuters. For the year, Wendy’s now expects adjusted annual per-share earnings of 39 cents to 40 cents a share, compared with its previous guidance for 38 cents to 40 cents.
How it originated?
Wendy’s began on November 15, 1969, when the company’s founder, Dave Thomas, opened his first restaurant. It was located at 257 East Broad Street, in Columbus, Ohio. Thomas chose the name Wendy’s in honour of his daughter. He wanted to provide his customers with fast, hearty food, in a family setting. One year later, Thomas opened a second restaurant, also in Columbus. This eatery had the first modern drive-thru window among fast food restaurants.
In 1984, the company introduced its “Where’s the Beef” campaign, which made fun of other restaurants’ hamburgers. This phrase became a catchphrase for Americans during the mid-1980s. In 1979, Wendy’s was the first fast food restaurant to introduce a salad bar. The company continued to add approximately five hundred restaurants each year during the early 1980s.
How does it function?
The Wendy’s Company operates Wendy’s fast food chain. The company is the #2 hamburger chain in the US behind #1 McDonald’s and just in front of #3 chain Burger King. The Wendy’s chain consists of nearly 6,500 restaurants in the US and more than 25 other countries. Besides burgers and fries, the restaurants serve chicken sandwiches, wraps, and a variety of salads. Instead of milkshakes, Wendy’s serves its famously thick Frosty. Most of the company’s locations are franchised, and it generates most of its sales in the US (around 93%). In 2014 Global Food Retail Group purchased the company for about $10 million.
Fee simple single tenant Wendy’s triple net lease for 1031 exchange. Single tenant Wendy’s triple net lease property for 1031 exchange.
