A Companhia de Wendy (Wen): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Mergulhe no plano estratégico da Wendy's, uma gigante de fast-food que transformou a paisagem de restaurantes de serviço rápido com seu inovador modelo de negócios. De hambúrgueres quadrados a plataformas digitais de ponta, o modelo de negócios de Wendy Canvas revela uma abordagem sofisticada que vai além das estratégias tradicionais de fast-food. Ao misturar perfeitamente ingredientes frescos, inovação tecnológica e experiências centradas no cliente, a empresa conquistou uma posição única em um mercado competitivo que atrai millennials, clientes conscientes do orçamento e entusiastas de alimentos.

A Companhia de Wendy (WEN) - Modelo de Negócios: Principais Parcerias

Franqueados que operam os restaurantes de Wendy globalmente

A partir do quarto trimestre de 2023, a Wendy's opera 6.942 restaurantes totais, com 5.938 locais franqueados e 1.004 restaurantes de propriedade da empresa. A distribuição global de franquias inclui:

Região	Número de restaurantes franqueados
Estados Unidos	5,601
Mercados internacionais	337

Fornecedores de alimentos e ingredientes

As principais parcerias estratégicas de suprimento de alimentos incluem:

• Bader Rutter: parceiro de marketing e fornecimento estratégico de alimentos
• Keystone Foods: parceiro de suprimento de proteínas e carne
• Sysco Corporation: Parceiro de Distribuição de Alimentos Principais

Parceiros de tecnologia

Colaborações da plataforma de pedidos digitais:

• Olo: Plataforma de Integração de Pedidos e Entrega Digital
• Quadrado: tecnologia de processamento de pagamento
• Google Cloud: Infraestrutura de computação em nuvem e tecnologia

Agências de marketing e publicidade

Parceria de marketing primária:

• Vmly & R: Agência de publicidade e marketing principal

Provedores de serviços de entrega

Parceiro de entrega	Status da parceria
Doordash	Parceria ativa em todo o país
Uber come	Parceria ativa em todo o país
GRUBHUB	Parceria ativa

A Companhia de Wendy (WEN) - Modelo de Negócios: Atividades -chave

Preparação e serviço de comida de restaurante

Em 2023, a Wendy's operava 6.711 restaurantes globalmente, com 5.938 locais nos Estados Unidos e no Canadá. A empresa processou aproximadamente 1,7 bilhão de transações de clientes anualmente.

Tipo de restaurante	Número de locais	Percentagem
Restaurantes de propriedade da empresa	366	5.5%
Restaurantes de franquia	6,345	94.5%

Inovação de menu e desenvolvimento de produtos

A Wendy's investiu US $ 20 milhões em pesquisa e desenvolvimento para inovação de menu em 2022. A empresa introduziu 14 novos itens de menu em 2023.

• Opções de proteína baseadas em plantas desenvolvidas
• Ofertas aprimoradas de menu de café da manhã
• Introduziu itens especiais de tempo limitado

Gerenciamento de sistema de pedidos digitais e móveis

As vendas digitais representaram 8,5% do total de vendas em 2023, gerando aproximadamente US $ 1,2 bilhão em receita por meio de plataformas digitais.

Plataforma digital	Usuários ativos mensais	Frequência de pedidos
Aplicativo móvel	3,2 milhões	2,4 pedidos por mês por usuário
Pedidos on -line	2,8 milhões	1,9 pedidos por mês por usuário

Marketing e promoção de marca

A alocada US $ 250 milhões de Wendy em despesas de marketing em 2023, com um foco significativo nos canais de mídia digital e social.

• Engajamento da mídia social: 3,5 milhões de seguidores no Twitter
• Gastes de publicidade digital: US $ 75 milhões
• Orçamento de marketing de influenciadores: US $ 15 milhões

Cadeia de suprimentos e gerenciamento de distribuição

Wendy's gerenciava uma cadeia de suprimentos complexa com 14 centros de distribuição na América do Norte.

Métrica da cadeia de suprimentos	Valor
Aquisição anual de alimentos	US $ 1,8 bilhão
Número de fornecedores	350
Taxa de conformidade com segurança alimentar	99.7%

A Companhia de Wendy (Wen) - Modelo de Negócios: Recursos -Principais

Marca de restaurantes estabelecidos e marca registrada

A partir de 2024, a Wendy's opera 6.942 restaurantes em todo o mundo, com 5.938 locais de franquia e 1.004 restaurantes pertencentes à empresa. Valor total da marca estimado em US $ 7,2 bilhões.

Métrica da marca	2024 Valor
Total de restaurantes	6,942
Locais de franquia	5,938
Restaurantes de propriedade da empresa	1,004

Itens de menu proprietários

Hambúrguer quadrado de assinatura rissóis continua sendo um recurso de diferenciação crítico para a identidade da marca de Wendy.

Infraestrutura de tecnologia digital

As plataformas digitais de Wendy incluem:

• Aplicativo de pedidos móveis com 30 milhões de usuários registrados
• Programa de fidelidade digital com 23 milhões de membros ativos
• Sistemas avançados de ponto de venda em 100% dos restaurantes

Força de trabalho treinada

Métrica da força de trabalho	2024 dados
Total de funcionários	92,000
Horário médio de treinamento dos funcionários	24 horas/ano

Rede de franquia forte

Composição da franquia em 2024:

• 85,5% do total de restaurantes são franqueados
• Presença de franquia em 30 países
• Possuir da franquia média: 12,4 anos

A Companhia de Wendy (Wen) - Modelo de Negócios: Proposições de Valor

Ofertas de carne bovina fresca e nunca congelada

A partir do quarto trimestre de 2023, a de Wendy relatou 97% de seus hambúrgueres de carne bovina são frescos e nunca congelados. Peso médio de empada de carne: 4,0 onças. Custo de fornecimento de carne: US $ 2,47 por libra.

Categoria de carne bovina	Percentagem	Volume anual
Carne fresca	97%	185 milhões de libras
Carne congelada	3%	5,5 milhões de libras

Opções de menu personalizáveis

O Wendy's oferece 12 opções de personalização de hambúrguer. As plataformas digitais suportam 87% das personalizações do menu.

• Modificações básicas de hambúrguer: 5 opções
• Topping Additências: 7 opções
• Taxa de personalização digital: 87%

Estratégia de preços competitivos

Preço médio do item do menu: US $ 6,89. Os itens do menu de valor variam de US $ 1,99 a US $ 3,49.

Categoria de menu	Faixa de preço	Preço médio
Hambúrgueres premium	$5.99 - $8.49	$7.29
Menu de valor	$1.99 - $3.49	$2.74

Plataformas convenientes de pedidos digitais

As vendas digitais representam 12,4% da receita total. Downloads de aplicativos móveis: 28,6 milhões. Frequência do pedido on -line: 3,2 vezes por mês por usuário ativo.

Qualidade consistente em locais de restaurantes

Contagem total de restaurantes: 6.711 locais. Pontuação de consistência da qualidade: 4.2/5 com base em pesquisas de clientes.

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

A Companhia de Wendy (Wen) - Modelo de Negócios: Relacionamentos ao Cliente

Programa de fidelidade (recompensas de Wendy)

A partir de 2024, o programa de recompensas de Wendy possui 25,5 milhões de membros ativos. O programa de fidelidade digital gera aproximadamente 25% do total de vendas por meio da plataforma.

Métricas do Programa de Fidelidade	2024 dados
Membros ativos totais	25,5 milhões
Contribuição de vendas	25%
Redenção de pontos médios	US $ 4,75 por transação

Engajamento da mídia social

A presença das mídias sociais de Wendy inclui:

• Seguidores do Twitter: 3,9 milhões
• Seguidores do Instagram: 1,6 milhão
• Seguidores do Facebook: 7,2 milhões
• Taxa média de engajamento: 4,3%

Interações de aplicativos móveis

Métricas de aplicativos móveis	2024 Estatísticas
Downloads de aplicativos totais	12,3 milhões
Usuários ativos mensais	6,7 milhões
Porcentagem de pedidos móveis	18% do total de transações

Mecanismos de feedback do cliente

Canais de coleta de feedback:

• Taxa de conclusão da pesquisa on -line: 22%
• Tempo de resposta ao atendimento ao cliente: 2,4 horas
• Taxa de resolução de reclamação: 93%

Campanhas de marketing personalizadas

Métricas de campanha de marketing	2024 dados
Campanhas de e -mail personalizadas	4,8 milhões de destinatários mensais
Taxa de conversão de anúncios digitais direcionados	3.7%
Investimento em tecnologia de personalização	US $ 14,2 milhões

A Companhia de Wendy (Wen) - Modelo de Negócios: Canais

Restaurantes de propriedade da empresa

A partir de 2023, a Wendy's opera 359 restaurantes de propriedade da empresa em todo o mundo.

Locais de franquia

A rede de franquias de Wendy consiste em 6.275 restaurantes totais em todo o mundo.

Região	Número de locais de franquia
Estados Unidos	5,938
Mercados internacionais	337

Aplicativo móvel

Recursos de aplicativo móvel de Wendy:

• Mais de 26 milhões de usuários ativos
• O pedido digital é responsável por 8,5% do total de vendas

Plataformas de pedidos on -line

Os canais de vendas digitais de Wendy incluem:

• Site da empresa
• Aplicativo móvel
• Quiosques digitais em restaurantes

Serviços de entrega de terceiros

Parceiro de entrega	Porcentagem de vendas de entrega digital
Doordash	65%
Uber come	22%
GRUBHUB	13%

A Companhia de Wendy (Wen) - Modelo de Negócios: Segmentos de Clientes

Consumidores de comida rápida

As metas de Wendy 18-54 foram demográficas da idade com ofertas de restaurantes de serviço rápido. A partir de 2023, esse segmento representa aproximadamente 67% da base total de clientes de Wendy.

Faixa etária	Porcentagem de base de clientes	Gasto médio por visita
18-34	42%	$8.75
35-54	25%	$10.25

Millennials e Gen Z

O envolvimento digital de Wendy com a demografia mais jovem mostra uma tração significativa.

• 48% dos usuários de aplicativos móveis de Wendy têm menos de 35 anos
• Seguidores de mídia social: 3,8 milhões no Twitter, 2,5 milhões no Instagram
• Porcentagem de ordem digital: 22% do total de transações

Diners conscientes do orçamento

A estratégia de menu de valor de Wendy tem como alvo os consumidores sensíveis ao preço.

Categoria de menu de valor	Faixa de preço	Volume diário de transação
4 por US $ 4 de refeição	$4.00	Aproximadamente 350.000 diariamente
Bolsa biggie	$5.00	Aproximadamente 250.000 diariamente

Entusiastas dos restaurantes de serviço rápido

Wendy captura os consumidores que buscam experiências gastronômicas eficientes.

• Tempo médio de espera de acionamento: 3,5 minutos
• Contagem total de restaurantes (2023): 6.711 locais
• Presença internacional: 30 países

Consumidores preocupados com a saúde

As adaptações de menu de Wendy para clientes com consciência de nutrição.

Opção focada na saúde	Calorias	Teor de proteínas
Sanduíche de frango grelhado	370 calorias	Proteína 34g
Salada de frango com peças de nozes de maçã	420 calorias	Proteína 30g

A Companhia de Wendy (Wen) - Modelo de Negócios: Estrutura de Custo

Compras de ingredientes alimentares

Em 2023, Wendy gastou aproximadamente US $ 2,1 bilhões em custos de alimentos e embalagens. A empresa obtém ingredientes de vários fornecedores com foco na qualidade e na eficiência de custos.

Categoria de ingredientes	Custo anual de compras
Carne bovina	US $ 680 milhões
Produzir	US $ 320 milhões
Produtos lácteos	US $ 220 milhões
Pão e pães	US $ 180 milhões

Operações e manutenção de restaurantes

Os custos operacionais anuais de Wendy para seus 6.711 restaurantes em 2023 totalizaram US $ 785 milhões, incluindo:

• Manutenção da instalação: US $ 210 milhões
• Utilitários: US $ 175 milhões
• Reparos de equipamentos: US $ 132 milhões
• Despesas de aluguel e arrendamento: US $ 268 milhões

Salários e treinamento de funcionários

Em 2023, as despesas totais de mão -de -obra de Wendy foram de US $ 1,3 bilhão, com o seguinte quebra:

Categoria de despesa	Quantia
Salários básicos	US $ 980 milhões
Programas de treinamento	US $ 65 milhões
Benefícios	US $ 255 milhões

Despesas de marketing e publicidade

O orçamento de marketing de Wendy para 2023 foi de US $ 345 milhões, alocado em vários canais:

• Publicidade digital: US $ 142 milhões
• Comerciais de televisão: US $ 98 milhões
• Campanhas de mídia social: US $ 55 milhões
• Impressão e publicidade ao ar livre: US $ 50 milhões

Investimentos de tecnologia e plataforma digital

Em 2023, Wendy investiu US $ 185 milhões em plataformas digitais e de tecnologia e digital:

Área de investimento em tecnologia	Quantia
Desenvolvimento de aplicativos móveis	US $ 62 milhões
Sistemas de pedidos digitais	US $ 53 milhões
Segurança cibernética	US $ 40 milhões
Infraestrutura em nuvem	US $ 30 milhões

A Companhia de Wendy (WEN) - Modelo de Negócios: Fluxos de Receita

Vendas de alimentos para restaurantes

Para o ano fiscal de 2022, a Wendy relatou receitas totais da empresa de US $ 2.034,9 milhões. As vendas de restaurantes operadas por empresas domésticas foram de US $ 443,3 milhões.

Categoria de receita	Valor (2022)
Receita total da empresa	US $ 2.034,9 milhões
Vendas de restaurantes operados pela empresa doméstica	US $ 443,3 milhões

Taxas de royalties de franquia

As receitas de franquia e royalties para a Wendy's em 2022 foram de US $ 737,8 milhões.

• A porcentagem de taxa de franquia varia entre 3-5% das vendas brutas
• Total de restaurantes de franquia Globalmente: 6.711 a partir de 2022

Comissões de pedidos digitais

As vendas digitais representaram aproximadamente 7% do total de vendas dos EUA em 2022, totalizando aproximadamente US $ 142,5 milhões em receita digital.

Serviços de catering

Os detalhes da receita de catering não são divulgados publicamente como um item de linha separado nos relatórios financeiros.

Mercadoria e vendas de produtos de marca

As vendas de mercadorias não são relatadas como um fluxo significativo de receita independente nas divulgações financeiras 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%.