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Wendy’s sells more Salt Lake City restaurants to franchisee
New York • Wendy's says it plans to sell 54 restaurants in the Salt Lake City area to a franchise operator as part of its push to unload more of its company-run locations.
The move is a continuation of Wendy's plan to sell 425 of its company-operated restaurants to franchise operators. Fast-food chains including McDonald's and Burger King typically own a small percentage of their locations in the U.S. That lets them instead rely on fees and royalties from franchisees, a business model that comes with lower costs and spreads risk.
Before the push began, Wendy's says about 22 percent of its locations were company-owned. The goal is to reduce that figure to 15 percent.
The latest sale is to NPC International, which has more than 1,200 restaurants, including 37 Wendy's in two states. Financial terms were not disclosed.
To date, Wendy's Co. says it has sold or agreed to sell 172 of its restaurants as part of the push.
The company, based in Dublin, Ohio, has more than 6,500 locations, primarily in North America.