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Wendy's of Denver LLC history
Wendy's of Denver LLC company history timeline
Wendy's hallmark square hamburgers and homey atmosphere were introduced in Columbus, Ohio, in 1969, and since that time the company has enjoyed phenomenal growth.
Thomas opened a second location just one year later and began franchising his idea in 1972.
By the end of 1974 the chain's net income topped $1 million, and total sales reached almost $25 million.
Near had become a Wendy's franchisee in 1974, opening 39 successful restaurants in West Virginia and Florida within four years.
1975: First international restaurant opens in Canada.
Wendy's went public in 1976 with an offering of one million common shares valued at $28 per share.
The chain's rapid expansion was supported by Wendy's first national advertising campaign in 1977.
1978: The 1,000th Wendy's opens in Springfield, Tennessee.
In November 1979 Wendy's celebrated its tenth birthday with many "firsts" to flaunt.
The chain had introduced its "Garden Spot" in 1979 over Thomas's protestations, becoming the first national restaurant chain to offer salad bars nationwide.
Thomas left his position as CEO in 1982, taking the title of senior chairman.
In 1983 Wendy's ads depicted "victims" of other hamburger restaurants, humorously bemoaning the long waits endured in indoor and drive-up lines for frozen hamburger patties.
1984: Famous and award-winning "Where's the Beef?" ad campaign is run.
These new products and the phenomenal success of the "Where's the Beef?" campaign catapulted Wendy's to a record $76.2 million in earnings in 1985.
In 1986 the chain introduced sit-down breakfasts featuring omelettes and French toast.
In 1989 Thomas reappeared in commercials offering customers a special money-back guarantee if they did not concur that Wendy's had the best-tasting hamburgers in the industry.
1989: Thomas begins another stint as advertising spokesperson; the Super Value Menu debuts.
Having brought Wendy's to this high point, Near decided to step down from the CEO position in late 1994 (while remaining chairman). He was replaced by Gordon Teter, who had served Wendy's as senior vice-president for three years and chief operating officer for four.
In 1994 same-store sales dropped to 2.7 percent in the first nine months of that year, compared to the quarter-to-quarter rate of 5 percent for the previous few years.
In 1995, Wendy's aggressive foreign expansion plan called for the company to open at least 150 new restaurants a year around the world.
Within the United States, the company planned to be opening approximately 400 stores a year by 1996.
In addition, in 1996, Wendy's bought out Hardee's restaurants in the northern tier of states, strengthening the company's position there as well.
First introduced in 1996, the late-night service helped the chain gain market share at the expense of its two main rivals.
Following Near's death in July 1997, president and CEO Teter became chairman of Wendy's International as well.
1997: The 5,000th Wendy's restaurant opens in Columbus, Ohio.
In December 1999 Teter died suddenly at age 56.
Overall, profits began increasing again in 1999, reaching $167 million on Wendy's International revenues of $2.07 billion.
Following positive test results, the new line was rolled out nationally in early 2002 backed by the biggest ad campaign in company history.
With the infusion of capital from Wendy's International, the chain hoped to expand to 50 units by 2005.
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