When looking to buy a food franchise, it’s important to understand all the fees and costs involved. Learn how Wingstop compares to its competitors.
The Wingstop Story
The first Wingstop was founded in 1994, and then, due to the growing popularity of chicken wings, the privately-owned company began franchising in 1998. As of 2020, there are 1,436 Wingstop locations, the majority of which are franchise-owned in the United States.
Customers love Wingstop for their wing flavors, which are unique to the brand and made with proprietary recipes. Wingstop is also highly focused on running a robust takeout business on top of their brick-and-mortar presence, which is why many of their storefronts are smaller than the average fast-casual restaurant. Along with a full menu of chicken options and sides, some Wingstop locations are licensed to sell beer and wine as well.
Wingstop Costs
The total Wingstop franchise cost varies between $376,300 to $724,000, with an initial franchise fee of $30,000. Whether you are building a new space or purchasing a location in need of repairs or upgrades, Wingstop requires prospective franchise owners to have $600,000 available cash and a net worth of at least $1.2 million. Once you open, Wingstop asks 6 percent in royalty fees and 4 percent for advertising on weekly sales. As of 2020, Wingstop also requires a 1 percent local advertising and promotional fee.
When exploring Wingstop franchise opportunities, 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. Additionally, franchise agreements with Wingstop last for a term of at least 10 years. In addition to initial investment fees, the total Wingstop franchise cost also requires a development fee of $10,000 per store, at a minimum of three stores.
Wingstop Pros & Cons
There are various general pros and cons to opening a restaurant franchise, but some are specific to this brand. Wingstop guarantees some territory protection, shielding you from facing the competition of other franchisees opening in your market and threatening your bottom line. And since Wingstop does a large portion of their business online, you may need to hire fewer employees to keep your business running.
Wingstop’s menu is specific and limited which, while simplifying operations for owners, may limit the appeal to a broader range of customers. Compared to other competing franchises, the fees for both marketing and advertising add up to a higher percentage. Additionally, the three-store minimum and preference toward previous multi-unit ownership may serve as a deterrent for less experienced restauranteurs or prospective investors who seek a simpler commitment.
The Wayback Way
Wayback Burgers was founded on the principle of providing hungry patrons with the most delicious burgers, sides, and hand-crafted shakes to delight their taste buds and keep them coming back for more. Since 1991, Wayback Burgers has been attracting diners and franchise owners across the globe.
Guests turn to Wayback Burgers for our authentic and uncomplicated approach to food, and dedicated entrepreneurs choose Wayback Burgers for our supportive and comprehensive franchise model.
With an initial franchise fee of $35,000 and an estimated total investment between $350,000 to $450,000, Wayback Burgers offers the kind of support, training, and growth that other franchises do not provide. As one of the most trailblazing franchises in the restaurant industry, Wayback Burgers offers owners world-class support through training, burger franchise marketing assistance and access to a successful network of experts and like-minded professionals.
Through a dual focus on guests and franchise owners, Wayback Burgers stands above the competition as a franchise opportunity that prioritizes making good food and good memories while serving our communities.
Visit us today to learn more about franchising opportunities with Wayback Burgers.
