How much space do you need to open a Wingstop franchise?
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. As with the vast majority of franchises, franchisees will be responsible for ongoing franchise fees. These include:
Is Wingstop a real franchise?
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. Want to join the club? Know the Wingstop franchise cost to get you started!
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.
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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 owning a Wingstop cost?
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. Some markets require a higher minimum depending on market evaluation.
How much is it for Wingstop franchise?
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. Net worth: Wingstop requires a minimum net worth of $1.2 million.
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 is the cost of McDonald's franchise?
The Franchise fee of McDonald's goes for around 30 lakhs INR; however, this fee is also attached with a 4 % monthly royalty fee as service fees to the brand. The actual investment amount differs, a business owner needs to keep a rough estimate of around 6 to 14 Crores.
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 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.
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.
Who owns 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.
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 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 money do you need to open a Chipotle franchise?
Estimated Chipotle Franchise CostType of ExpenditureEstimated AmountLowHighChipotle Franchise Fee (if they franchised)$20,000$25,000Real Estate Purchase or Lease(may vary substantially based upon the location)Site Preparation and Completion Costs$150,000$400,00011 more rows•Jul 19, 2022
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.
Is Wingstop a franchise or chain?
Wingstop is best known for its delicious chicken wings with incredibly tasty sauces. The vast majority of their restaurants are franchised, but the company also operates a small number of company-owned units.
How many Wingstop locations are there?
There are currently over 1520 Wingstop franchises in operation around the world. The majority of these are located in the United States, but the company has a growing presence in other countries as well. In recent years, the company has been rapidly expanding its international reach, with new franchises opening in France.
How much does a Wingstop franchise cost?
A Wingstop franchise can cost anywhere from $347,600 – $759,100. Of course, the actual amount you’ll need to spend will vary depending on a number of factors, the first is the location of the restaurant. For example, leasing or purchasing a property in a busy urban area is likely to be more expensive than in a rural location.
What is the Wingstop franchise fee?
The Wingstop franchise fee is $20,000. In addition to the initial fee, franchisees must also pay a development fee of $10,000.
Ending Summary
Overall, the Wingstop franchise is a solid investment for those who are looking to get into the restaurant industry. The company has a strong brand presence and offers a delicious product that appeals to a wide range of customers.
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.
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.
How Much It Cost to Open a Wingstop Franchise
Wingstop prides itself in offering franchisees lower operational costs than other more resource-intensive food businesses that can be found in the . Wingstop has a franchise fee of up to $20,000, with total initial investment range of $346,775 to $733,249. These fees are broken down as follows;
Steps on How to Open a Wingstop Franchise
Investing in a franchise can be one of the most liberating moves an entrepreneur can make. It provides you with the freedom of being your own boss and the brand recognition that would otherwise take years to build.
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.
