Wendy's

cash flow in a paper bag

There’s a reason the best quick service restaurants feel eerily stable even while the economy has the mood swings. Habit. Geography. A menu with a few evergreen anchors. And a model that skims cash from a lot of small decisions made at a drive thru window. Wendy’s is firmly in that camp, smaller moat than the arch nemesis (kidding), yes, but a real moat…