Is Wendys melting? Up to 116 stores collapsed or taken over by management in just eight years
A former franchisee of ice cream and hot dog chain Wendys claims a total of 116 franchisees nationwide have either collapsed or been taken over by management over the past eight years.
The revelation comes after SmartCompany reported in September a number of Wendys Victorian franchisees had been listed for sale on online marketplaces. The news broke just days after Singapore-based Global Yellow Pages subsidiary Global Food Retail Group agreed to purchase the franchise network.
The stores listed as being up for sale through Seek Commercial included Lilydale Marketplace, Dandenong, Geelong Market Square, South Morang, Rowville and Wheelers Hill, with some offered for as little as $59,000.
One store was listed as having takings of $4500 per week with “low rent”, averaging out to just $80.35 per hour over a 56 hour trading week.
According to a list obtained by SmartCompany, an additional 116 stores have either collapsed or been taken during the past eight years.
Read more here;
http://www.smartcompany.com.au/growth/franchising/44996-is-wendys-melting-up-to-116-stores-collapsed-or-taken-over-by-management-in-just-eight-years.html#
