Full Answer
See more
How much does a Wingstop owner make a year?
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 is a Wingstop franchise cost?
InvestmentCategoryActual or Estimate Low*Actual or Estimate High*Initial Fees Development Fee Franchise Fee$10,000 $20,000$10,000 $20,000Security Deposits$0$10,000Architect and Engineering Fees$5,800$35,500Professional Fees$2,500$7,50010 more rows
How much money can you make from a Wingstop?
Average Wingstop hourly pay ranges from approximately $9.22 per hour for Area Leader to $21.91 per hour for Full Charge Bookkeeper. The average Wingstop salary ranges from approximately $21,338 per year for Service Associate to $117,561 per year for Senior Purchasing Manager.
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.
What franchise is the most profitable?
Most Profitable FranchisesAnytime Fitness. Anytime Fitness is a popular gym brand with a low-cost investment and high revenue potential. ... McDonald's. McDonald's franchise program is one of the most established in the fast food industry. ... UPS Store. ... Jersey Mike's Subs. ... Dunkin' ... Sport Clips. ... 7-Eleven. ... Papa John's.
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.
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...
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.
How successful is Wingstop?
Wingstop's systemwide sales jumped 37%, to $509 million, for the quarter ended June 27. Total revenue increased 36.1% to $66.1 million. So far in July, same-store sales are up 28.7%, the company said. To grow units, even during the coronavirus crisis, the 1,436-unit chain has been “very entrepreneurial,” Morrison said.
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.
What famous person owns Wingstop?
rapper Rick RossPopular rapper Rick Ross owns multiple Wingstop restaurants, mostly in the south of the U.S. Tennis superstar Venus Williams has opened five locations of Jamba Juice in the Washington D.C. area.
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.
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 own a Dunkin Donuts?
Dunkin' Donuts Franchise Cost / Initial Investment / Dunkin' Donuts. The total liquid capital required to open a Dunkin' Donuts franchise is $125,000 and Dunkin' Donuts franchise fees are $40,000 to $90,000. The minimum net worth of a Dunkin' Donuts franchise is $250K.
How much money do you need to open a Wingstop franchise?
In order to open a Wingstop franchise, you must have a net worth of more than $360,000. Appreciate the investment required for a кestaurant franchise. You will need to consider real estate costs, the cost of equipment and signs, the costs of licenses and permits, the cost of uniforms, the cost of insurance, etc.
What is a Wingstop franchise?
Wingstop franchise is US restaurant business with a special aviation-themed atmosphere. 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. If you are willing to join the chain, discover how to buy one of Wingstop franchises for sale here. You can find Wingstop franchise requirements including investment information together with the highest and lowest franchise fees. The Wingstop franchise offers a rational cost and profit ratio.
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.
What is included in Wingstop franchise cost?
The Wingstop franchise cost also includes expenses for the POS system, signs, and telephone.
How much does it cost to start a Wingstop?
In fact, the startup cost indicated by the company’s website includes marketing expenses. Specifically, you would pay around $5,000 to as much as $25,000 for the opening publicity.
When did Wingstop start serving wings?
In fact, a company called Wingstop has been serving Buffalo wings way back 1994 and franchising since 1997. Two decades later and still the company is not showing any sign of stopping.
How much does it cost to get a business permit for Wingstop?
Business Permit. Legally operating a business comes with a cost. A Wingstop franchise would require you to pay around $1,000 to $3,500 to obtain a permit. The exact cost would depend on your location, as each local government charge varying fees. To expedite the issuance of the permit, expect to pay $1,200 to $2,500.
How long have buffalo wings been around?
The bar staple has been around for only 45 years. Yet, it’s quickly become a favorite dish in and out of the US. Of course, business-minded people would surely ride on the fame. In fact, a company called Wingstop has been ...
How long after franchise opens can you spend?
The said total amount should be spent within 6 months after your franchise opens.
Can you be considered for Wingstop?
Finances aside, you would only be considered by Wingstop if you have experience in multi-unit restaurant management and development . You have a further edge if you were in the franchise business before connecting with the company.
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 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 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 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 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.
When did Wingstop start?
Wingstop started business in 1994 in Dallas, Texas. It then ventured into franchising in 1997 and successfully managed to grow into 1,445 units over the years. Wingstop Franchising LLC, the franchisor, grants the franchisee to operate a restaurant in an approved territory. As a franchisee, you have access to the following:
How long does Wingstop training last?
Typically, the overall training lasts 25 consecutive days with one day off each week. The total training hours will be split between two sites— classroom and on-the-job training. Upon opening the franchisee’s first Wingstop restaurant, the franchisor will send two trainers for the opening restaurant to assist for at least 14 days. The franchisor has sole discretion to require the following to all franchisees and their managers:
What is The Real Cost of A Lemonshark Poke Franchise?
However, other fast-casual restaurants may also have a place and opportunity to become an investment in the long run. One of them is LemonShark Poke, self-dubbed as a “fine casual” offering healthier food options for consumers needing a quick bite.
What is franchise agreement?
According to the Franchise Agreement, the franchisor will guarantee competitive protection to the franchisee in a trade area around the restaurant’s premises. This agreement means that the franchisor will not open or grant any other franchisee to open another restaurant around the granted trade area. Aside from high-density population areas, a restaurant’s trade area starts from its main door and extends into a radius outwards. The radius of the franchisee’s trade area will depend on the following factors:
What happens if a franchisee does not want to be involved?
If a franchisee chooses not to be involved, the owner must appoint a general manager to supervise the day-to-day restaurant operation. It’s also required to have an assistant manager to help with the restaurant.
How many people should be in a franchise training program?
At least two people, the franchisee and a general manager should complete the training program until the franchisor’s satisfaction. If the franchisee is preoccupied, sending out a designated principal and general manager for training will suffice. Both persons who completed the training should work full-time in the restaurant.
How far away from a restaurant can you franchise?
As a general rule, the radius will never go as far as three miles from the restaurant. However, if a franchisee wants to operate in a non-traditional venue, the trade area is expected to be limited to the specified site location’s physical footprint.
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.
