Most of us frequent businesses on a very regular basis, but we never really take the time to learn about these companies that we patronize. I learned a very long time ago that your chances of winning increase exponentially when you hang around with winners. The same logic holds true for those who take the effort to study winners. If you know what winners know, if you think like winners think, then there is a very good chance that you will be a winner too.
I want to reflect on one company today that has been winning financially for years. While I am slowly weening myself off of fast food, I must admit that I do find myself in the drive-thru from time to time. Today, I indulged in a couple burgers, a fry, and a side salad from Dave Thomas’ baby, Wendy’s. Here’s some interesting information about the company that you may or may not know.
- The first restaurant opened in 1969, in Columbus, OH.
- The restaurant is named after Dave’s daughter, Melinda, whose nickname is Wendy.
- They started franchising in 1972.
- They went public in 1976 and hit the 500 franchise mark.
- 1978 – 1,000 restaurants open.
- 1979 – 1,500 restaurants open
- 1980 – 2,000 restaurants open
- 1983 – 2,500 restaurants open
- 1985 – 3,000 restaurants open
- 1988 – Wendy’s goes global
- 1989 – Dave returns to front stage by appearing in commercials.
- 1992 – 4,000 restaurants open
- 1993 – Dave Thomas receives his GED
- 1997 – 5,000 restaurants open
- 2001 – 6,000 restaurants open
- 2002 – Dave Thomas passes away
- End of 2011 – 6,594 franchises open
In order to own a franchise, you must be fairly wealthy.
1.Minimum net worth of at least $1,000,000*. Net worth may include liquid assets (as defined below), retirement accounts or pension-related funds, cash value of insurance policies, receivables, real estate, and the value of ownership in privately held companies.
2.Minimum liquid assets of at least $500,000*. Liquid assets may include cash, money market accounts, certificates of deposit, publicly traded stocks and bonds.
3.Payment of the $5,000 Application Fee prior to the commencement of any training and the $25,000 Technical Assistance Fee (U.S.; $35,000 CAD) upon execution of Wendy’s Unit Franchise Agreement.
*Minimum net worth and liquid asset requirements apply to franchisees developing their first Wendy’s restaurant. The minimum financial requirements for new franchisees entering the system through the acquisition of multiple existing Wendy’s restaurants may be significantly higher and will be based on the capital structure of the transaction.
The Bottom Line
$2.431 billion in revenue ($368,668 per restaurant).
I challenge you to look at your surroundings through the lens of an entrepreneur. Don’ t just settle for being a consumer. Learn what it means to be on the other side of the counter. Instead of paying for the rest of your life; learn how to get paid. Don’t be a borrower forever; become a lender! Employees make a living. Owners make a legacy.
All this information can be found at http://www.wendys.com