How to buy a Wingstop franchise?
The Wingstop franchise offers a rational cost and profit ratio. How to open a Wingstop franchise? Ensure you have adequate capitalization. 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.
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.
How long does it take to become a Wingstop owner?
Wingstop owners are required to undergo extensive training before they open their stores: over 19 hours of online training, 30+ hours of classroom training, and over 153 hours of in-restaurant training. This will all take place over the course of 25 days at Wingstop’s Restaurant Support Center, which is located in Dallas, Texas.
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.
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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 does it cost to buy into 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 much does Rick Ross own of Wingstop?
Ross owns nearly 30 Wingstop franchises across the U.S., according to CBS46.com.
What is the most profitable franchise?
Top 14 Most Profitable FranchisesMcDonald's. Units in operation: 39,360. ... Dunkin Donuts. Units in operation: 12,800. ... Taco Bell. Units in operation 12,800. ... Subway Franchise. Offers Financing: Yes. ... Anytime Fitness Franchise. Units in operation: 4,904. ... Sonic. Royalty: 2.5% - 5.0% ... Planet Fitness. Royalty 7.0% ... Orangetheory Fitness.More items...
What is Starbucks franchise fee?
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 is Mcdonalds franchise fee?
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 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.
What rapper owns Wingstop?
Rapper Rick Ross' family, which operates several Wingstop franchises, owns the five Mississippi locations the labor department found to be illegally deducting money from workers' wages, leaving some with take-home pay less than $7.25 an hour.
Who owns every Wingstop?
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.
Do franchise owners make money?
Franchise Business Review found that the average annual pre-tax income of franchise owners in America is $80,000. Only 7% of franchise owners make more than $250,000 annually, and 51% earn less than $50,000. Legally, franchisors cannot give income amounts or forecasts of future income.
What is the most profitable franchise to own in 2022?
Most Profitable FranchisesDunkin'7-Eleven.Planet Fitness.JAN-PRO.Taco Bell.Orangetheory Fitness.Great Clips.Mac Tools.More items...•
Is buying a franchise a good investment?
If you're a fledgling entrepreneur or a seasoned business person wanting to diversify your holdings, you've probably wondered, “Are franchises a good investment?” The simple answer is yes, especially if a great opportunity presents itself. There is an obvious appeal to starting a business via buying a franchise.
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
How much does a Wendy's franchise cost?
$2,000,000 to $3,700,000The estimated total investment required to begin operation of a new restaurant normally ranges from $2,000,000 to $3,700,000. Will I be assigned an exclusive territory? Wendy's does not currently provide exclusive areas to franchisees. The franchise agreement is issued for the specific restaurant location only.
Who is the owner of Wingstop?
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.
How much is it to buy a Taco Bell franchise?
Costs overview Franchising fee: It costs between $25,000 and close to $50,000 for the initial franchise fee. This, too, will vary depending on the details of your specific Taco Bell franchise. Net worth: The current net-worth requirement is around $1.5 million worth of assets.
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.
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 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.
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.
