Wendy’s Achieves Nearly 50% Turnover Growth as UK Expansion Continues
Posted by Emma on 8th Oct 2024
Wendy’s, the American fast-food brand known for its square burgers, experienced significant growth in the UK market in 2023. The company reported a remarkable increase in turnover, rising by nearly 50% during the year, from £21.2 million in 2022 to £31.9 million in 2023. This growth comes as Wendy’s continued its expansion strategy, doubling the number of company-owned outlets from six to 12.
Hullian111, CC BY-SA 4.0, via Wikimedia Commons
Despite the turnover surge, pre-tax profits showed a slight decrease, dropping from £1.4 million in 2022 to £1.2 million in 2023. This minor dip in profitability comes as the company has been heavily investing in its expansion efforts, both through company-owned and franchised locations.
Wendy’s returned to the UK in 2021 after a 20-year absence, and it has since been steadily growing its presence. By the end of 2023, the brand had launched 33 restaurants across the UK, with additional sites scheduled to open in Liverpool, Newcastle, and London’s Wood Green. This continued growth also led to increased staffing, with the company employing 436 people by the end of 2023, up from 376 the previous year. Wendy’s has announced plans to create up to 400 new jobs in the coming year.
Michael Clarke, Managing Director of Wendy’s UK and Europe, previously indicated the company’s focus on expanding its drive-through operations. Clarke highlighted plans for at least half of Wendy’s UK restaurants to feature drive-through services, alongside extending the opening hours of specific locations to accommodate late-night customers.
While Wendy’s operates over 6,000 restaurants across the United States, its UK locations remain the brand’s only presence in Europe. However, the company has ambitions to use the UK as a launchpad for further growth in Europe, with franchise recruitment underway for future expansions into Ireland and Spain.
Wendy’s rapid expansion and strong turnover growth highlight the brand’s strategic commitment to the UK market as it continues to capitalise on the growing demand for quick-service restaurants in the region.