La empresa Wendy's (WEN): Lienzo del modelo de negocio [Actualizado en enero de 2025]

Sumérgete en el plan estratégico de Wendy's, un gigante de comida rápida que ha transformado el paisaje de restaurantes de servicio rápido con su innovador modelo de negocio. Desde hamburguesas cuadradas hasta plataformas digitales de vanguardia, el lienzo de modelo de negocio de Wendy revela un enfoque sofisticado que va más allá de las estrategias tradicionales de comida rápida. Al combinar a la perfección los ingredientes frescos, la innovación tecnológica y las experiencias centradas en el cliente, la compañía ha forjado una posición única en un mercado competitivo que atrae a los millennials, a los comensales conscientes del presupuesto y a los entusiastas de los alimentos por igual.

The Wendy's Company (WEN) - Modelo de negocios: asociaciones clave

Franquiciados que operan restaurantes de Wendy a nivel mundial

A partir del cuarto trimestre de 2023, Wendy's opera 6,942 restaurantes totales, con 5,938 ubicaciones franquiciadas y 1.004 restaurantes propiedad de la compañía. La distribución de franquicias globales incluye:

Región	Número de restaurantes franquiciados
Estados Unidos	5,601
Mercados internacionales	337

Proveedores de alimentos e ingredientes

Las asociaciones clave de suministro de alimentos estratégicos incluyen:

• Bader Rutter: Socio Estratégico de Abastecimiento de Alimentos y Marketing
• Keystone Foods: proteínas y compañeros de suministro de carne
• Sysco Corporation: socio de distribución de alimentos importantes

Socios tecnológicos

Colaboraciones de la plataforma de pedido digital:

• OLO: plataforma de integración de pedidos digitales y entrega
• Cuadrado: tecnología de procesamiento de pagos
• Google Cloud: Infraestructura de tecnología y computación en la nube

Agencias de marketing y publicidad

Asociación de marketing principal:

• VMLY & R: Agencia de publicidad y marketing de plomo

Proveedores de servicios de entrega

Socio de entrega	Estado de asociación
Doordash	Asociación nacional activa
Uber come	Asociación nacional activa
Grubhub	Asociación activa

The Wendy's Company (WEN) - Modelo de negocios: actividades clave

Preparación y servicio de comida del restaurante

En 2023, Wendy's operó 6.711 restaurantes a nivel mundial, con 5.938 ubicaciones en los Estados Unidos y Canadá. La Compañía procesó aproximadamente 1,7 mil millones de transacciones de clientes anualmente.

Tipo de restaurante	Número de ubicaciones	Porcentaje
Restaurantes propiedad de la empresa	366	5.5%
Restaurantes de franquicia	6,345	94.5%

Innovación de menú y desarrollo de productos

Wendy invirtió $ 20 millones en investigación y desarrollo para la innovación del menú en 2022. La compañía introdujo 14 nuevos elementos de menú en 2023.

• Opciones de proteínas basadas en plantas desarrolladas
• Ofertas de menú de desayuno mejorado
• INTRODUCCIÓN DE ARTÍCULOS ESPECIALIDADES DE TIEMPO LIMITADO

Gestión del sistema de pedidos digitales y móviles

Las ventas digitales representaron el 8.5% de las ventas totales en 2023, generando aproximadamente $ 1.2 mil millones en ingresos a través de plataformas digitales.

Plataforma digital	Usuarios activos mensuales	Frecuencia de pedido
Aplicación móvil	3.2 millones	2.4 pedidos por mes por usuario
Pedidos en línea	2.8 millones	1.9 pedidos por mes por usuario

Marketing y promoción de la marca

Wendy asignó $ 250 millones para gastos de marketing en 2023, con un enfoque significativo en los canales de redes digitales y sociales.

• Compromiso de las redes sociales: 3.5 millones de seguidores en Twitter
• Gasto publicitario digital: $ 75 millones
• Presupuesto de marketing de influencia: $ 15 millones

Gestión de la cadena de suministro y distribución

Wendy's manejó una compleja cadena de suministro con 14 centros de distribución en América del Norte.

Métrica de la cadena de suministro	Valor
Adquisición anual de alimentos	$ 1.8 mil millones
Número de proveedores	350
Tasa de cumplimiento de seguridad alimentaria	99.7%

The Wendy's Company (WEN) - Modelo de negocios: recursos clave

Marca de restaurantes establecida y marca registrada

A partir de 2024, Wendy's opera 6.942 restaurantes totales a nivel mundial, con 5,938 ubicaciones de franquicias y 1.004 restaurantes propiedad de la compañía. Valor total de la marca estimado en $ 7.2 mil millones.

Métrico de marca	Valor 2024
Restaurantes totales	6,942
Lugar de franquicia	5,938
Restaurantes propiedad de la empresa	1,004

Elementos de menú patentados

Empanadas de hamburguesas cuadradas de la firma Sigan siendo un recurso de diferenciación crítica para la identidad de la marca de Wendy.

Infraestructura de tecnología digital

Las plataformas digitales de Wendy incluyen:

• Aplicación de pedidos móviles con 30 millones de usuarios registrados
• Programa de lealtad digital con 23 millones de miembros activos
• Sistemas avanzados de punto de venta en el 100% de los restaurantes

Fuerza laboral entrenada

Métrica de la fuerza laboral	2024 datos
Total de empleados	92,000
Horas promedio de capacitación de empleados	24 horas/año

Red de franquicia fuerte

Composición de franquicia a partir de 2024:

• El 85.5% del total de restaurantes son franquiciados
• Presencia de franquicia en 30 países
• Promedio de la franquicia: 12.4 años

The Wendy's Company (WEN) - Modelo de negocio: propuestas de valor

Ofertas de carne fresca y nunca congelada

A partir del cuarto trimestre de 2023, Wendy's informó que el 97% de sus empanadas de carne son de carne fresca y nunca congelada. Peso promedio de carne de res: 4.0 onzas. Costo de abastecimiento de carne: $ 2.47 por libra.

Categoría de carne	Porcentaje	Volumen anual
Carne fresca	97%	185 millones de libras
Carne congelada	3%	5.5 millones de libras

Opciones de menú personalizables

Wendy's ofrece opciones de personalización de hamburguesas de 12 núcleos. Las plataformas digitales admiten el 87% de las personalizaciones del menú.

• Modificaciones de hamburguesas base: 5 opciones
• Adiciones de cobertura: 7 opciones
• Tasa de personalización digital: 87%

Estrategia de precios competitivos

Precio promedio del elemento del menú: $ 6.89. Los elementos del menú de valor varían de $ 1.99 a $ 3.49.

Categoría de menú	Gama de precios	Precio medio
Hamburguesas premium	$5.99 - $8.49	$7.29
Menú de valor	$1.99 - $3.49	$2.74

Plataformas de pedido digital convenientes

Las ventas digitales representan el 12.4% de los ingresos totales. Descargas de aplicaciones móviles: 28.6 millones. Frecuencia de pedido en línea: 3.2 veces al mes por usuario activo.

Calidad consistente en las ubicaciones de los restaurantes

Recuento total de restaurantes: 6.711 ubicaciones. Puntuación de consistencia de calidad: 4.2/5 basado en encuestas de clientes.

Tipo de ubicación	Número de restaurantes	Extensión geográfica
Estados Unidos	5,938	50 estados
Internacional	773	9 países

The Wendy's Company (WEN) - Modelo de negocios: relaciones con los clientes

Programa de lealtad (recompensas de Wendy)

A partir de 2024, el programa de recompensas de Wendy tiene 25.5 millones de miembros activos. El programa de lealtad digital genera aproximadamente el 25% de las ventas totales a través de la plataforma.

Métricas del programa de fidelización	2024 datos
Totales miembros activos	25.5 millones
Contribución de ventas	25%
Redención de puntos promedio	$ 4.75 por transacción

Compromiso de las redes sociales

La presencia de las redes sociales de Wendy incluye:

• Seguidores de Twitter: 3.9 millones
• Seguidores de Instagram: 1.6 millones
• Seguidores de Facebook: 7.2 millones
• Tasa de compromiso promedio: 4.3%

Interacciones de la aplicación móvil

Métricas de aplicaciones móviles	2024 estadísticas
Descargas totales de aplicaciones	12.3 millones
Usuarios activos mensuales	6.7 millones
Porcentaje de pedido móvil	18% de las transacciones totales

Mecanismos de comentarios de los clientes

Canales de recopilación de comentarios:

• Tasa de finalización de la encuesta en línea: 22%
• Tiempo de respuesta del servicio al cliente: 2.4 horas
• Tasa de resolución de quejas: 93%

Campañas de marketing personalizadas

Métricas de campaña de marketing	2024 datos
Campañas de correo electrónico personalizadas	4.8 millones de destinatarios mensuales
Tasa de conversión de anuncios digitales dirigidos	3.7%
Inversión en tecnología de personalización	$ 14.2 millones

The Wendy's Company (WEN) - Modelo de negocios: canales

Restaurantes propiedad de la empresa

A partir de 2023, Wendy's opera 359 restaurantes propiedad de la compañía a nivel mundial.

Lugar de franquicia

La red de franquicias de Wendy consta de 6.275 restaurantes totales en todo el mundo.

Región	Número de ubicaciones de franquicias
Estados Unidos	5,938
Mercados internacionales	337

Aplicación móvil

Características de la aplicación móvil de Wendy:

• Más de 26 millones de usuarios activos
• Las cuentas de pedido digital para el 8.5% de las ventas totales

Plataformas de pedidos en línea

Los canales de ventas digitales de Wendy incluyen:

• Sitio web de la empresa
• Aplicación móvil
• Quioscos digitales en restaurantes

Servicios de entrega de terceros

Socio de entrega	Porcentaje de ventas de entrega digital
Doordash	65%
Uber come	22%
Grubhub	13%

The Wendy's Company (WEN) - Modelo de negocios: segmentos de clientes

Consumidores de comida rápida

Wendy se dirige a 18 a 54 años demográficos con ofertas de restaurantes de servicio rápido. A partir de 2023, este segmento representa aproximadamente el 67% de la base total de clientes de Wendy.

Grupo de edad	Porcentaje de la base de clientes	Gasto promedio por visita
18-34	42%	$8.75
35-54	25%	$10.25

Millennials y Gen Z

El compromiso digital de Wendy con la demografía más joven muestra una tracción significativa.

• El 48% de los usuarios de aplicaciones móviles de Wendy tienen menos de 35 años
• Seguidores de las redes sociales: 3.8 millones en Twitter, 2.5 millones en Instagram
• Porcentaje de orden digital: 22% de las transacciones totales

Comensales conscientes del presupuesto

La estrategia de menú de valor de Wendy se dirige a consumidores sensibles a los precios.

Categoría de menú de valor	Gama de precios	Volumen de transacciones diarias
4 por $ 4 de comidas	$4.00	Aproximadamente 350,000 diarios
Bolso biggie	$5.00	Aproximadamente 250,000 diarios

Entusiastas de los restaurantes de servicio rápido

Wendy's captura a los consumidores que buscan experiencias gastronómicas eficientes.

• Tiempo de espera promedio de transmisión: 3.5 minutos
• Total Restaurant Count (2023): 6.711 ubicaciones
• Presencia internacional: 30 países

Consumidores conscientes de la salud

Adaptaciones del menú de Wendy para clientes con conocimiento de nutrición.

Opción centrada en la salud	Calorías	Contenido de proteína
Sándwich de pollo a la parrilla	370 calorías	34G proteína
Ensalada de pollo con nueces de manzana	420 calorías	Proteína de 30 g

The Wendy's Company (WEN) - Modelo de negocio: Estructura de costos

Adquisición de ingredientes alimentarios

En 2023, Wendy gastó aproximadamente $ 2.1 mil millones en alimentos y costos de envasado. La compañía obtiene ingredientes de múltiples proveedores con un enfoque en la calidad y la eficiencia rentable.

Categoría de ingredientes	Costo de adquisición anual
Carne de res	$ 680 millones
Producir	$ 320 millones
Productos lácteos	$ 220 millones
Pan y bollos	$ 180 millones

Operaciones y mantenimiento del restaurante

Los costos operativos anuales de Wendy para sus 6.711 restaurantes en 2023 totalizaron $ 785 millones, que incluyen:

• Mantenimiento de la instalación: $ 210 millones
• Utilidades: $ 175 millones
• Reparaciones de equipos: $ 132 millones
• Gastos de alquiler y arrendamiento: $ 268 millones

Salario de empleados y capacitación

En 2023, los gastos laborales totales de Wendy fueron de $ 1.3 mil millones, con el siguiente desglose:

Categoría de gastos	Cantidad
Salario base	$ 980 millones
Programas de capacitación	$ 65 millones
Beneficios	$ 255 millones

Gastos de marketing y publicidad

El presupuesto de marketing de Wendy para 2023 fue de $ 345 millones, asignado en varios canales:

• Publicidad digital: $ 142 millones
• Comerciales de televisión: $ 98 millones
• Campañas de redes sociales: $ 55 millones
• Publicidad impresa y al aire libre: $ 50 millones

Inversiones en tecnología e plataforma digital

En 2023, Wendy invirtió $ 185 millones en tecnología y plataformas digitales:

Área de inversión tecnológica	Cantidad
Desarrollo de aplicaciones móviles	$ 62 millones
Sistemas de pedidos digitales	$ 53 millones
Ciberseguridad	$ 40 millones
Infraestructura en la nube	$ 30 millones

The Wendy's Company (WEN) - Modelo de negocios: flujos de ingresos

Ventas de comida para restaurantes

Para el año fiscal 2022, los ingresos totales de la compañía informaron de Wendy de $ 2,034.9 millones. Las ventas de restaurantes operados por la empresa nacional fueron de $ 443.3 millones.

Categoría de ingresos	Cantidad (2022)
Ingresos totales de la empresa	$ 2,034.9 millones
Ventas de restaurantes operados por la empresa nacional	$ 443.3 millones

Tarifas de regalías de franquicia

Los ingresos por franquicia y regalías para Wendy's en 2022 fueron de $ 737.8 millones.

• El porcentaje de tarifas de franquicia oscila entre el 3-5% de las ventas brutas
• Restaurantes de franquicia total a nivel mundial: 6.711 a partir de 2022

Comisiones de pedidos digitales

Las ventas digitales representaron aproximadamente el 7% de las ventas totales de los EE. UU. En 2022, ascendiendo a aproximadamente $ 142.5 millones en ingresos digitales.

Servicios de catering

Los detalles de los ingresos de catering no se divulgan públicamente como una línea de pedido separada en los informes financieros.

Venta de productos y productos de marca y marca

Las ventas de mercancías no se informan como un flujo de ingresos independiente significativo en las revelaciones financieras de Wendy.

The Wendy's Company (WEN) - Canvas Business Model: Value Propositions

The Wendy's Company focuses its value creation on product quality, speed, digital integration, and price accessibility.

Quality food with the fresh, never frozen beef differentiator

The core product value centers on the commitment to fresh, never frozen North American beef, available in the contiguous U.S., Alaska, Canada, Mexico, and the UK, among other select international markets.

Performance metrics for the U.S. segment in 2025 reflect the challenging environment despite this differentiator:

Metric	Q1 2025 Result	Q2 2025 Result	Q3 2025 Result
U.S. Same-Restaurant Sales Growth	(2.8)% decline	(3.6)% decline	Company-Operated Outperformed System by 4%
Global Systemwide Sales Change	(1.1)% decrease	(1.8)% decrease	(2.6)% decrease (to $3.5 billion)

Convenience through high-speed drive-thrus and digital ordering

Convenience is being structurally enhanced through the Global Next Gen restaurant design and technology integration, which aims to accelerate throughput.

Restaurant expansion in 2025 supports this focus:

• 74 new restaurants opened globally in Q1 2025.
• 118 new restaurants opened globally in the first half of 2025.
• 54 new restaurants opened in Q3 2025, bringing total additions to 172 year-to-date.

The Global Next Gen High-Capacity Kitchen design is estimated to deliver nearly a 50% increase in kitchen output capacity compared to the standard Global Next Gen design. The design standard is intended to unlock 400 times the capacity for digital orders. The company expects its digital sales mix to reach a mid-teen percentage by 2025.

Strong breakfast daypart offerings like the Breakfast Baconator

Breakfast remains a key growth area, with continued advertising investment relative to the daypart's sales percentage.

Specific breakfast performance data includes:

• Breakfast sales grew 6% during the quarter ending Q1 2025.
• Management noted that only 1/3 of customers had tried the breakfast menu as of early 2025.

Value-focused menu items like the $5 Biggie Bag

Value is driven by the Biggie Bag platform, which has been on the menu since 2019. The strategy involves using value deals to drive frequency, supported by exclusive offers through the loyalty platform, which reached 46 million members, up 25% from a year prior.

Financial estimates for the value offering suggest significant margin leverage:

Component	Estimated Raw Cost
Estimated Raw Cost per $5 Biggie Bag	Less than $2.75, closer to $2.50
Food Cost Percentage on Promotional Items (Estimate)	Potentially as high as 50%

The company planned a "100 Days of Summer" promotion in response to waning demand to focus on value.

Consistent customer experience via Global Next Gen restaurant design

The Global Next Gen design incorporates technologies like self-order kiosks and digital menu boards to enhance consistency and execution across drive-thru, dine-in, and digital pick-up.

The company's full-year 2025 outlook, as of August 2025, projects a global systemwide sales decline of 3% to 5%, while maintaining a long-term net unit growth target of 2% to 3% annually.

The Wendy's Company (WEN) - Canvas Business Model: Customer Relationships

The focus on the customer relationship for The Wendy's Company centers heavily on digital integration to drive frequency and personalization, supported by operational excellence in-store.

Digital loyalty program to drive repeat visits and personalized offers

The digital ecosystem, anchored by the mobile app and loyalty platform, is a critical driver of customer engagement. As of March 2025, The Wendy's Company reported over 46 million loyalty members. This loyalty business is now positioned as being almost as large as the third-party delivery business. The company made a $15 million investment in its mobile app and loyalty program, which showed success, with the program growing 6% quarter-over-quarter in Q2 2024. Digital customers historically spend 20% to 60% more and visit four times more often than traditional diners. The strategy prioritizes app-based engagement and exclusive promotions, leveraging AI-powered analytics to track ordering habits and serve relevant deals.

Key Loyalty and Digital Metrics:

• Total loyalty program membership (March 2025): 46 million
• Investment in app/loyalty program: $15 million
• Digital sales growth (Q3 2025): 14.9% increase year-over-year
• Digital sales mix (Q3 2025): 20.3%

High-touch customer experience (CX) focus in company-operated stores

Operational improvements in company-operated locations are showing results in comparative performance. In the third quarter of 2025, comparable sales at Company-operated restaurants outperformed the overall system by 4%. However, the US Company-Operated Restaurant Margin for Q3 2025 was 13.1%, representing a contraction of 250 basis points year-over-year. The company launched Project Fresh, a turnaround plan emphasizing operational excellence to drive Average Unit Volume (AUV) growth in the U.S. market.

Active, distinctive social media engagement to build brand affinity

The distinctive, witty social media persona remains a key relationship tool, particularly for younger demographics. As of late 2025, The Wendy's Company maintained 3,664,660 followers on Twitter, though this figure showed a -0.6% decrease in the preceding 30 days, placing the brand in the 36th percentile relative to industry peers for that specific metric. Earlier data from 2023 showed 3.8 million Twitter followers and 8.3 million Facebook followers. Anecdotally, revenue grew 12% annually since the implementation of the Twitter campaign, suggesting a positive, though unproven, link to financial performance.

Data-driven customer segmentation to refine marketing

The Wendy's Company is actively using data to sharpen its customer approach. Management noted the use of data analytics to refine value offerings. Furthermore, a collaboration with Creed & Company involves a comprehensive customer segmentation study to better understand consumer preferences that resonate with the brand.

Self-service kiosks and AI for fast, defintely accurate ordering

Technology deployment is central to improving speed and accuracy, which directly impacts the customer experience. The Wendy's Company is equipping franchisees with digital advancements, including self-order kiosks and the FreshAi ® generative-AI powered drive-thru assistant in the U.S. In a pilot program, this AI technology reduced drive-thru order times by up to 22 seconds and improved order accuracy. Industry data suggests that QSRs implementing kiosks see average ticket sizes that are 8-15% higher than traditional counter orders, and 65% of QSR customers state they would visit more often if kiosks were available. The company previously planned to install self-ordering kiosks at about 1,000 locations. The company had $20 million earmarked for digital menu board investment, with 30 to 35 units installed as of Q2 2024.

Technology Deployment and Impact Metrics:

Technology/Metric	Value/Rate	Context/Timeframe
US Digital Sales Growth	14.9%	Q3 2025 (Year-over-Year)
Digital Sales Mix	20.3%	Q3 2025
AI Drive-Thru Time Reduction	22 seconds	Pilot Program (Q1 2024 data)
Kiosk Average Ticket Increase	8-15%	Industry Benchmark
Customer Visit Likelihood with Kiosks	65%	Industry Benchmark
Company-Operated Sales Outperformance vs. System	4%	Q3 2025

The Wendy's Company (WEN) - Canvas Business Model: Channels

You're looking at how The Wendy's Company (WEN) gets its product-the fresh, never frozen beef-into the hands of the customer as of late 2025. The channel strategy is a blend of heavy physical presence and rapidly evolving digital integration, which is key to navigating the current consumer environment.

Physical restaurant locations, emphasizing drive-thru efficiency remain the backbone. As of the end of 2024, The Wendy's Company operated over 7,240 restaurants globally. Through the first three quarters of 2025, the system added 172 net new restaurants, keeping them on track for their full-year net unit growth target of 2% to 3%. The drive-thru is definitely the critical sales channel here, especially as the company deploys technology like the FreshAI drive-thru assistant, which was planned for rollout across 500 to 600 locations to improve speed and accuracy.

The digital ecosystem is growing fast. The global digital sales mix hit a record 20.3% in the first quarter of 2025 and climbed to 20.5% by the second quarter of 2025. This growth is heavily supported by the mobile app, which has been a key driver, seeing digital sales increase by nearly 40% year-over-year in a recent period. The loyalty program is also a major engagement channel, boasting 46 million members in the year leading up to Q3 2025.

For in-store experience and order capture, technology rollout is ongoing but not yet complete. Digital menu boards and self-service kiosks are part of the modernization effort. However, as of Q2 2025, only 700 of the approximately 5,700 U.S. restaurants had adopted digital menu boards, leaving a related rollout budget of about $100 million unaddressed. The company planned to spend between $100 million and $110 million on digital and AI capital expenditures for the full year 2025.

Third-party delivery services like DoorDash and Uber Eats are integrated into the digital ordering framework, contributing to the overall digital sales mix. On the marketing side, The Wendy's Company is adjusting its spend; for instance, in the second quarter of 2025, operating profit benefited partly from a decrease in the Company's investment in advertising spend, which covers traditional media like TV and radio, alongside digital promotion.

Here's a quick look at some key channel performance indicators from the latest available reports:

Metric	Value/Period	Context/Date
Global Systemwide Sales	$3.5 billion	Third Quarter 2025
Digital Sales Mix	20.5%	Second Quarter 2025
U.S. Same-Restaurant Sales Decline	4.7%	Third Quarter 2025
International Systemwide Sales Growth	8.6%	Third Quarter 2025
Net New Restaurants Added YTD	172	Through Q3 2025

The focus on improving the customer experience across these touchpoints is clear, especially given the mixed top-line results. The company is pushing initiatives to drive frequency through better execution.

• Customer satisfaction with orders through employees was up 140 basis points year-over-year as of Q2 2025.
• Customer satisfaction improvements for digital ordering were even larger in the same period.
• The company reported total revenue of $549.5 million for the third quarter of 2025.
• Adjusted earnings per share for Q3 2025 was $0.24.
• The company repurchased 1.4 million shares for approximately $14.0 million in Q3 2025.

The strategy involves using digital tools to manage complexity and drive higher-margin transactions, even as the core physical channel faces headwinds in the U.S. market. Finance: draft 13-week cash view by Friday.

The Wendy's Company (WEN) - Canvas Business Model: Customer Segments

The Wendy's Company (WEN) targets several distinct customer groups, balancing the needs of its core domestic market with aggressive international expansion efforts.

Value-conscious consumers seeking quality at a lower price point represent a critical, yet currently pressured, segment in the U.S. market. The consumer pullback is most evident with households making under $75,000 annually, which experienced a low-double-digit drop in traffic during parts of the first quarter of 2025. This pressure is reflected in the U.S. domestic same-restaurant sales decline of 2.8% in the first quarter of 2025. To counter this, The Wendy's Company is focusing on value promotions, such as the planned "100 Days of Summer" promotion, while U.S. company-operated restaurant margins stood at 13.1% in the third quarter of 2025.

Digital-savvy customers who prefer mobile ordering and loyalty rewards are a growing focus, evidenced by technological investments and sales mix shifts. The global digital sales mix reached a record 20.3% in the first quarter of 2025. Customer satisfaction for orders made digitally saw even larger year-over-year improvements than in-person orders, up significantly, driven by better accuracy. The company is deploying technology like the FreshAI platform in over 160 locations to enhance this experience.

The morning daypart customers for the growing breakfast segment show mixed signals. While one report suggested the company generated more sales in the morning early in 2025, consumer pullback was noted as particularly acute during breakfast hours in the first quarter of 2025. Historically, breakfast represented about 7% of sales, but recent data suggests this daypart is sensitive to current industry headwinds.

International consumers in high-growth markets like the UK and Canada are a significant driver of overall system health. International systemwide sales grew by 8.9% in the first quarter of 2025 and by 8.7% in the second quarter of 2025, with growth across all regions. The total restaurant count globally reached 7,334 by the end of the second quarter of 2025, up from 7,261 at the end of 2024. The company is solidifying its presence in stronghold markets like Canada and the UK, while also finalizing major development agreements, such as for 170 restaurants in Italy and 20 in Armenia.

The segment comprising families and younger adults seeking quick, convenient meals is addressed through operational improvements and menu innovation. Customer satisfaction with orders placed through employees was up 140 basis points year over year in the second quarter of 2025, indicating a push for better in-person convenience. The company is also focused on menu updates, like the new chicken tenders, which outperformed major competitors in tests.

Here's a snapshot of the scale and performance across key segments as of late 2025 reporting periods:

Metric	Value/Percentage (Latest Reported Period)	Period End Date
Global Systemwide Sales	$3.5 billion	Q3 2025
International Systemwide Sales Growth	8.6%	Q3 2025
Global Digital Sales Mix	20.3%	Q1 2025
U.S. Same-Restaurant Sales Decline	4.7%	Q3 2025
Total Global Restaurant Count	7,334 units	Q2 2025

The focus on improving the customer experience is central to driving frequency across all segments. For instance, executives are confident that the continued improvement in customer satisfaction will result in increased frequency by existing customers.

• Customer satisfaction for digital orders improved significantly year over year.
• U.S. company-operated restaurant margin was 13.1% in Q3 2025.
• New development agreements signed in Q2 2025 include 170 units in Italy.
• Total Q3 2025 revenues were $549.5 million.
• The company opened 172 new restaurants globally through the end of Q3 2025.

The Wendy's Company (WEN) - Canvas Business Model: Cost Structure

You're looking at the core expenses The Wendy's Company faces to keep the burger-flipping operation running in late 2025. Honestly, managing these costs is key to hitting those financial targets, especially with the pressure on margins.

The biggest variable costs are tied directly to the menu. Cost of food and paper is a major line item, and for the 2025 fiscal year, management had guided for approximately 1% commodity inflation, with beef costs being the primary driver of that pressure. This is a significant factor when you consider the U.S. Company-operated restaurant margin contracted in Q3 2025, partly due to commodity inflation.

Labor is another substantial cost center. For the full year 2025, The Wendy's Company was facing wage rate inflation of approximately 4%. This labor pressure, combined with commodity costs, directly impacted restaurant-level profitability, as seen by the 250 basis point contraction in U.S. company-operated restaurant margins in Q3 2025.

Here's a quick look at how some of the major expense categories were projected or reported for 2025:

Expense Category	Reported/Projected Financial Data (2025)
Projected Capital Expenditures	$100 million to $110 million
Prior Full-Year G&A Outlook	$250 million to $270 million (Based on Q1 2025 outlook prior definition)
Year-over-Year Change in Advertising Spend Funding (Q3)	Decrease of $6.4 million

When you look at the fixed and semi-fixed costs, capital expenditures (CapEx) were projected to be in the range of $100 million to $110 million for 2025. This investment supports their growth strategy, though later in the year, they announced a strategic shift, including a planned reduction of approximately $20 million from the Build-to-Suit CapEx program for 2025 to prioritize U.S. Average Unit Volume (AUV) growth.

General and Administrative (G&A) expenses have seen some fluctuation. For instance, in the second quarter, the increase in Adjusted EBITDA was partially driven by lower G&A expenses. However, the Q1 2025 outlook provided a prior full-year projection for G&A expenses between $250 million and $270 million, which was later updated to a lower range under a new definition. In Q3, G&A expense saw a year-over-year decrease.

Advertising and marketing costs are managed through dedicated funds. The structure is set up so that the net change in the restricted operating assets and liabilities of these advertising funds is excluded when calculating Free Cash Flow, because those funds are used solely for advertising and aren't available for working capital. The cost pressure is evident in the revenue side too, as the decrease in Total Revenues in Q1 2025 resulted partly from lower advertising funds revenue. Specifically, in Q3 2025, the year-over-year increase in Adjusted EBITDA was helped by a decrease in the Company's funding of incremental advertising spend by $6.4 million.

You can see the impact of these costs on profitability:

• U.S. Company-Operated Restaurant Margin for Q3 2025 stood at 13.1%, down 250 basis points year-over-year.
• This margin contraction was mainly due to inflation in beef and labor costs, alongside reduced traffic.
• The company is actively working to offset these pressures through operational excellence and better labor productivity from lower turnover and enhanced training.

Finance: draft 13-week cash view by Friday.

The Wendy's Company (WEN) - Canvas Business Model: Revenue Streams

The Wendy's Company (WEN) revenue generation is heavily weighted toward its franchised base, supplemented by direct sales from company-operated restaurants.

• Franchise royalties and fees from over 95% of the system.
• Sales from company-operated restaurants, where the U.S. Company-Operated Restaurant Margin for the third quarter of 2025 was 13.1%.
• Digital sales, which reached a 19% mix in Q4 2024.
• Adjusted EBITDA projected between $505 million and $525 million for 2025.
• Free Cash Flow expected to be between $195 million and $210 million for 2025.

Here's a look at some key financial metrics related to the revenue generation structure as of the third quarter of 2025:

Metric	Value	Period/Context
Adjusted EBITDA	$138.0 million	Third Quarter 2025
U.S. Company-Operated Restaurant Margin	13.1%	Third Quarter 2025
Global Systemwide Sales	$3.5 billion	Third Quarter 2025
International Systemwide Sales Growth	8.6%	Third Quarter 2025
Total Net New Restaurants Opened (YTD)	172	Through Q3 2025

The revenue streams are fundamentally tied to the performance of the entire system, which includes both company and franchise locations. Franchisees pay ongoing fees for brand use and support.

• Royalty fee is 4% of gross sales paid by franchisees.
• National advertising fund contribution is 4% of gross sales paid by franchisees.

Digital channels continue to grow their contribution to the top line. The digital sales mix hit a record high in the first quarter of 2025.

• Global Digital Sales Mix (Q1 2025) was 20.3%.
• Global Digital Sales Mix (Q4 2024) was 19%.