Full Answer
How much does it cost to buy a Wingstop?
How much does it cost to buy a Wingstop? One-time costs. The average investment is around $390,000, but this can stretch to over $775,000. Franchise fee: The Wingstop franchise fee is $20,000 per store. There is also a development fee of $10,000 per store. Keep in mind, you’re required to open at least three stores.
How much does a Bojangles' franchise cost?
Starting a Bojangles franchise is an exciting possibility, but something that requires careful consideration of the upfront costs. A Bojangles franchise costs around $2 million on average, while the lowest cost is $1.5 million and the highest cost is $2.5 million.
How much does Wingstop pay in Texas?
Wingstop pays its employees an average of $11.41 an hour. Hourly pay at Wingstop ranges from an average of $8.36 to $16.10 an hour. Wingstop employees with the job title General Manager ...
How much is a Quiznos franchise?
There is an initial franchise fee of $25,000 which grants you the license to run a business under the Quiznos name.
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How many Wingstops are franchised?
The period between 2019 and 2021 saw Wingstop acquire 104 new franchises in 2019, 121 new ones in 2020, and 165 in 2021. That increased Wingstop's total franchise numbers from 1095 at the start of 2019 to 1485 at the end of 2021. That is a growth rate of 35.6% which is unambiguously high for this industry.
How much do Wingstop franchise owners make?
Wingstop franchisees can anticipate a profit of $200,000 per store. Not all franchises have this great of a performance every year though.
How much does it cost to buy into a Wingstop franchise?
To qualify as a Wingstop franchisee, we require a minimum net worth of $1,200,000, of which $600,000 must be liquid. There is also a 3 store minimum requirement for development....Investment.CategoryActual or Estimate Low*Actual or Estimate High*Initial Fees Development Fee Franchise Fee$10,000 $20,000$10,000 $20,00013 more rows
How many Wingstop locations are there?
900Wingstop Restaurants / Number of locations
How many Wingstops do Rick Ross own?
Ross owns nearly 30 Wingstop franchises across the U.S., according to CBS46.com.
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...
How much does it cost to build a Wingstop?
One-time costs The average investment is around $390,000, but this can stretch to over $775,000. Franchise fee: The Wingstop franchise fee is $20,000 per store. There is also a development fee of $10,000 per store. Keep in mind, you're required to open at least three stores.
How much is a Starbucks franchise?
What are the Financial requirements for a Starbucks licensed store? You need to pay the licensing fee of between $50,000 – $315,000 and you must have over $1,000,000 in liquid assets to be considered for a licensed store by Starbucks.
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 state has the most Wingstops?
The state with the most number of Wingstop locations in the US is Texas, with 421 locations, which is 24% of all Wingstop locations in America.
How much did Rick Ross pay for Wingstop?
Wingstop locations operated by Rick Ross' family fined over $100,000 for labor violations. A Wingstop franchise business owned by family of musician Rick Ross paid $114,427 for several labor violations across five locations in Mississippi, the U.S. Department of Labor announced last week.
Who is CEO of Wingstop?
Michael J. Skipworth (Mar 13, 2022–)Wingstop Restaurants / CEOMichael Skipworth has served as our President and Chief Executive Officer since March 2022 and previously served as President and Chief Operating Officer since August 2021. He joined Wingstop in December 2014 and held leadership roles in finance and accounting, serving as our Chief Financial Officer until August 2021.
How much money do you make owning a franchise?
According to a survey done by Franchise Business Review involving 28,500 franchise owners, the average pre-tax annual income of franchise owners is about 80,000 dollars.
How much money does a 7 Eleven franchise owner make?
Salary Details for a Franchise Owner at 7-Eleven The estimated base pay is $81,982 per year. The estimated additional pay is $58,226 per year.
What is the ongoing royalty fee for Wingstop?
6%$948,080Type of FeeAmountRoyalty6% of gross sales.Ad Fund4% of gross sales.Ad Customization FeeReasonable charge.Local Advertising and Promotional MaterialsThe franchisor presently does not require franchisees to spend anything on local advertising.19 more rows
What does a Taco Bell franchise cost?
Total cost: A standalone Taco Bell franchise location is estimated to cost between $1.2 million and $2.6 million, exclusive of land and lease costs. Initial investment: Initial investments will vary significantly based on your location and the type of restaurant.
How much does a Wingstop franchise make?
Franchise revenue and profits depend on a number of unique variables, including local demand for your product, labor costs, commercial lease rates and several other factors. We can help you figure out how much money you can make by reviewing your specific situation. Please unlock this franchise for more information.
How many franchise locations do they have?
As of the 2020 Franchise Disclosure Document, there are 1201 franchised Wingstop locations in the USA.
What does it mean to find the best franchise?
Finding the best franchise means comparing several brands to determine the ideal fit for you.
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.
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 is a Wingstop franchise?
Setting up your first Wingstop franchise costs between $347,600 and $759,100, not including the costs of the property and the legal fees associated with finding a place (Item 7, FDD 2021). This includes initial fees to the company, furniture and equipment, initial inventory, and opening advertising.
How to franchise a Wingstop?
Wingstop has a six-step process for franchise applicants. First, you will have to submit a request for consideration. If this is successful, you will be contacted by the company’s Franchise Development Team, who will discuss your qualifications. This leads to completing an application, which is evaluated by Wingstop, and if they think that you’re suitable then they will provide you a Franchise Disclosure Document. Applicants who get this far then attend a discovery day to learn more, at the end of which a development agreement can be issued and the process of finding a location and setting up the restaurant begins.
What are the pros and cons of a Wingstop franchise?
Wingstop is a relatively low-cost franchise to get started with. In return for the initial fees, you get all the advantages you would expect from any franchise, including training and support, a large combined national marketing budget, strong brand recognition, and a tested business model. Wingstop is a company that’s seeing good financial growth, which is a healthy sign for your restaurant’s potential. On a day-to-day level, a relatively simple menu makes the restaurants relatively easy to run.
Is Wingstop for you?
Wingstop is a growing brand with strong financials at the company level. A large marketing budget and the enthusiastically applied star power of Rick Ross keep it in the spotlight, boosting sales and expansion. If you want to be part of a brand that’s pushing hard for growth, but where the restaurant itself has simpler processes, and you’re willing to accept lower ongoing earnings in return for lower up-front fees, this could be for you.
