Wingstop Franchise Costs There are many franchise costs, and they differ with locations and company adjustments. There are one-time costs that involve the initial investment fees. This fee varies with the franchise location and the type of restaurant you own. The franchise fee is $20,000 per store.
Full Answer
How much does it cost to open a Wingstop franchise?
The estimated total investment necessary to begin the operation of a Wingstop Franchise ranges from $315,310 to $948,080. The following costs are part of the upfront costs included in the initial investment for a Wingstop. Many of these are one-time fees that are needed to launch the franchise.
How many Wingstop Restaurants are there in the world?
The specialty of the restaurant is chicken wings with various flavors served with dips, salads, and drinks. Great Wingstop restaurant franchise opportunities have already been recognized by entrepreneurs in many countries, who own 1,000 Wingstop restaurants.
Does Wingstop allow absentee ownership?
Hands-on: If you’re looking for a franchise that’ll let you be offsite, Wingstop does not allow absentee ownership. While you may not need to be the day-to-day operator, you will be expected to have a hands-on role.
What is the history of Wingstop?
Wingstop. Wingstop landed on the scene in 1994 with the idea of serving the ultimate buffalo-style chicken wings and to provide quality products with superior service at an exceptional value. An immediate hit, we began offering franchises in 1997 in response to the growing interest from entrepreneurs wanting to open their own Wingstop restaurant.
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How much does Wingstop make off a franchise?
2021 Wingstop Median Franchise Sales: $1,485,793 Based on the median sales for Wingstop's franchise locations, at an average of a 15% profit margin, it will take around 5.5 years to recoup your investment.
How much do Wingstop owners make?
How much does a Business Owner make at Wingstop in the United States? Average Wingstop Business Owner hourly pay in the United States is approximately $12.10, which is 18% below the national average.
How often are royalty fees paid for Wingstop?
If you continue using Wingstop's trademarks or system after expiration or termination of your franchise, you must pay Wingstop a weekly royalty equal to 150% of the royalty you were paying beforehand.
How much money can you make from a Wingstop?
How much does Wingstop in the United States pay? Average Wingstop hourly pay ranges from approximately $9.22 per hour for Area Leader to $21.91 per hour for Full Charge Bookkeeper.
Does Rick Ross own Wingstop?
Ross, through Boss Wings Enterprises LLC, reportedly owned 10 Wingstop locations as of 2016. He said on Instagram last year that he had given his son one of the franchises for his 16th birthday.
Which franchise has the best wings?
The Best Chicken and Wings Franchises to Buy in 2022Buffalo Wild Wings.Church's Chicken.East Coast Wings + Grill.El Pollo Loco.KFC.Lee's Famous Recipe Chicken.Native Grill & Wings.Pollo Campero.More items...
What franchise is the most profitable?
Most Profitable FranchisesDunkin'7-Eleven.Planet Fitness.JAN-PRO.Taco Bell.Orangetheory Fitness.Great Clips.Mac Tools.More items...•
What is a reasonable royalty rate for a franchise?
Franchise royalties are often calculated as a function of sales, typically 5-6% but can be as high as 15%. Some franchisors charge a fixed fee irrespective of sales levels.
What is a typical franchise royalty fee?
It's a royalty. Franchise royalties are usually collected by your franchisor on a monthly basis. Like marketing fees, these fees are based on a percentage of your revenue. But there's one major difference; the percentages are higher. Franchise royalties range from 4% of your revenue all the way up to 12% or more.
How many Wingstops do Rick Ross own?
Ross owns nearly 30 Wingstop franchises across the U.S., according to CBS46.com.
How much does a McDonald's franchise cost?
McDonald's franchisee applicants must have a minimum of $500,000 available in liquid assets and pay a $45,000 franchise fee. Those looking to launch a new McDonald's franchise can expect to shell out between $1,314,500 and $2,306,500. Existing franchise prices can cost upwards of $1 million or more.
What does a Pizza Hut franchise cost?
Pizza Hut has a franchise fee of $25,000 for a 20-year agreement, although the total initial investment ranges between $297,000 and $2,109,000. Additionally, franchisees must pay the company ongoing royalty fee of 6% on all sales, as well as an additional 3% to be applied toward national marketing efforts.
How much does 7 Eleven owner make?
Is owning a 7-Eleven profitable? In terms of profit, 7-Eleven franchise owners can average $50,000 – $75,000 for their salary.
How many Wingstops do Rick Ross own?
Ross owns nearly 30 Wingstop franchises across the U.S., according to CBS46.com.
How much does owner of Subway make?
The average salary for an Owner is $122,868 per year in United States, which is 35% higher than the average Subway salary of $90,583 per year for this job.
Who owns Wingstop franchise?
The restaurant chain was founded in 1994 in Garland, Texas, and began offering franchises in 1997. As of 2022, Wingstop now has over 1,400 restaurants. The chain is headquartered in Addison, Texas. In 2003, the chain was acquired by Gemini Investors, which sold it to Roark Capital Group in 2010.
Background
According to Wingstop, franchises have high sales per square foot relative to the rest of the industry, with an average store doing about $1.25 million in annual sales. Plus, Wingstop is on the upswing in terms of chain restaurants. The fast-food chain grew 31.4% from 2015 to 2019, posting revenues of $53 million in 2019.
Support and Training Offered By Wingstop
In terms of training, the franchise offers francisees On-The-Job Training that lasts for 139 hours, as well as classroom Training for 48 hours.
Franchises Similar to Wingstop
The International Franchise Professionals Group (IFPG) is an internationally recognized membership-based franchise organization. IFPG Franchise Consultants guide aspiring business owners through the process of identifying and investing in franchise businesses. The IFPG represents more than 550 franchises.
What Does a Wingstop Franchise Cost?
To buy a franchise with Wingstop, you'll need to have $204,000 - $335,000 in liquid capital. They also offer financing via 3rd party. *
When did Wingstop start?
Wingstop landed on the scene in 1994 with the idea of serving the ultimate buffalo-style chicken wings and to provide quality products with superior service at an exceptional value. An immediate hit, we began offering franchises in 1997 in response to the growing interest from entrepreneurs wanting to open their own Wingstop restaurant.
How long is Wingstop training?
As a Wingstop franchisee you and your general manager will participate in an intensive three-week orientation at the Wingstop corporate offices in Dallas. You will receive hands-on training and a simulation in which you run a store as if it were your own.
How much capital do single unit operators need?
Single-unit operators must live in the market they seek to develop and have a minimum net worth of $250,000 of which $100,000 must be liquid capital.
How much do Wingstop Franchise Owners make?
The 2019 median annual net sales of all franchised Wingstop restaurants was $1,892,388.
Is the Wingstop Franchise Profit Worth the Franchise Cost?
To assign a valuation multiple for Wingstop franchises, we leverage estimates from DealStats, a database of acquired private company transactions sourced from U.S. business brokers and SEC filings. We reviewed the larger franchise industry as well as selling price multiples for Wingstop Franchise specifically since its transaction data was available on the DealStats website.
How to open a Wingstop franchise?
If opening a Wingstop franchise sounds like the right business venture for you, you can submit an application through Wingstop’s website. If you're approved, you’ll have the opportunity to attend a Wingstop Discovery Day, which will help you get a sense of whether you’d like to take the plunge to own a Wingstop franchise. Make sure you speak with as many current and former Wingstop franchisees as possible during this process, as they’ll be able to provide firsthand information about the franchising process and relationship.
How many Wingstop locations are there?
Wingstop has over 1,200 locations in the U.S. and other locations in multiple countries. Of their 1,300-plus worldwide locations, more than 980 are franchises. Founded in 1994, Wingstop first began offering franchising opportunities in 1997.
What is Wingstop territory?
Territory: Wingstop guarantees some territory protection, which shields you from other franchisees opening in your market and threatening your sales.
How many square feet does Wingstop take?
Because Wingstop does about 80% of their business via takeout, you don’t need to look for a lot of space—you can open a store with a minimum of between 1,200 and 2,000 square feet.
What are the advantages of franchising?
One of the many advantages of franchising is the support you’ll receive from the franchisor. This can be especially appealing to entrepreneurs without previous business ownership or restaurant experience. Wingstop offers support for identifying real estate, setting up operations, and managing construction.
How many units are needed for Wingstop?
When exploring Wingstop franchises, keep in mind that you can only choose a multi-store development with a minimum of three units. They also require previous multi-unit restaurant management and development experience, with a strong preference for past franchise ownership.
What is a wingstop?
Known for their variety of—you guessed it—chicken wings, Wingstop is a brand with a lot of loyalty and customer appeal. If you’re interested in opening a Wingstop franchise, there’s lots to know about its corporate structure, Wingstop franchise cost, and more.
How many Wingstop restaurants are there?
Now Wingstop has more than 450 restaurants open or under development in 26 states and continues to add new stores at a rate of almost 30 percent annually.
What is a wingstop?
Wingstop came with the idea of serving the delicious buffalo-style chicken wings and to serve quality products with superior service at an exceptional value. A great response to the growing interest from entrepreneurs wanting to open their own Wingstop Franchises Restaurants.
How long is Wingstop training?
As a Wingstop franchisee, you and your general manager will participate in an intensive three-week orientation at the Wingstop corporate offices in Dallas. You will receive training and simulation in which you run a store as if it were your own.
What is franchise for sale?
Franchise for sale provide information regarding the franchise which will help you to choose profitable franchise option.
