Do you want to start a restaurant business by buying Wingstop franchise? If YES, here is how much it cost to open a Wingstop franchise and the requirement.
Wingstop Inc. is a chain of restaurants that bear the iconic aviation theme. The restaurants specialize in serving delicious and delectable chicken wings, as well as other fares. True to its name, Wingstop locations are decorated following a 1930s and 1940s “pre-jet” aviation theme. You can find Wingstop franchise requirements including investment information together with the highest and lowest franchise fees listed here.
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 united states. 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;
- Initial investments: $346,775 – $733,249
- Net-worth Requirement: $1,200,000
- Liquid Cash Requirement: $600,000
- Development Fee – $10,000
- Franchise Fee – $20,000
- Security Deposits – $10,000
- Site Survey Fees – $2,500
- Architectural/Engineering Fees – $7,800 to $14,400
- Permit Expeditor Fees – $1,200
- Professional Fees – $1,500 to $4,000
- Leasehold Improvements – $140,723 to $324,887
- Business and Operating Permits – $3,000 – $5,500
- Décor Package – $5,261 – $9,835
- Furniture, Fixtures, Audio/Visual System, Equipment and Smallwares – $97,731 to $122,570
- Point-of-Sale Register, Hardware and Software – $22,250 to $30,250
- Signs – $7,125 to $17,850
- Phone System – $1,725 $2,000
- Opening Inventory – $10,000 to $15,000
- Opening Publicity and Promotions – $5,000 to $15,000
- Additional Funds – 3 months – $25,000 to $35,000
- ESTIMATED TOTAL – $340,815 to $621,242
Note that the estimated initial investment range given excludes real estate purchase and lease costs.
Other fees to note;
- Ongoing Royalty Fee: 6%
- Ad Royalty Fee 4%
- Renewal Fee – 25% of the sum of the then current development fee and franchise fee (that currently would equal $7,500). If franchisees renew their franchise for a 2nd 10-year renewal term (after the first 10-year renewal term ends), they must pay 50% of the sum of the then current development fee and franchise fee (that currently would equal $15,000).
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. If you want to acquire a Wingstop franchise, the first thing you have to do is to fill out an online Request for Consideration, providing your contact information and preliminary financial information to them.
You have to specify the cash assets you have available and the locations you are interested in. A Wingstop franchise sales director will follow up with you to discuss the opportunity. A breakdown of the process goes thus;
- Ensure you have the finance
Going through the fees listed above, you will have a clear view of what it would cost you to get a Wingstop franchise. So, before you proceed, you have to makes sure you have this capital, or that you are able to access it.
2. Have a clear view of the investment requirement
Aside from the franchise fees and other capital requirements, 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. All these costs add up to a lot, so ensure you ave no issues covering them.
3. Evaluate your business experience
You should thoroughly evaluate your prior business experience before applying to become a Wingstop franchise owner. You need to have up to some certain years of experience before you can be considered for a Wingstop franchise.
4. Check area availability
For you to be successful with your franchise application, you have to ensure that there is an available area for your business. You need to see if there are available markets in your location of interest before proceeding with the franchising application.
5. Fill out and Submit your application
The next step will now be to fill out your application and submit it to the company. Your application will be reviewed by the Wingstop franchise team. You will be emailed a confirmation receipt upon reception of your online application. From the confirmation receipt, you will be provided with additional information on the franchise owner.
8. Receive approval & opening your Wingstop franchise
After going through all the steps required by Wingstop and if the franchisor finds that you are capable of opening and running a restaurant, you will receive an approval from the company. Note that approval will only be given to candidates who meet all the requirements stated out by Wingstop.
What You Must Know About Wingstop Franchise
The restaurant chain was founded in 1994 in Garland, Texas, by Antonio Swad and Bernadette Fiaschetti who were a couple then before they got married. The duo had opened a restaurant called Pizza Patrón in 1986 when they were still dating before the big idea of Wingstop came up.
Since then, Wingstop has grown into a chain with more than 1,000 restaurants either open or in development. The chain is headquartered in Dallas, Texas currently. In 2003, the chain was acquired by Gemini Investors, which sold it to Roark Capital Group in 2010. The chain went public in 2015.
The restaurant specializes in 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.
The Wingstop menu consists of wings, boneless wings, and chicken strips, with a variety of dips and sides. The Flavors on the US Market that are still available include; Hawaiian, Barbecue Sauce, Garlic Parmesan, Lemon Pepper, Mild, Original Hot, Hot Lemon, Garlic, Atomic, Mango Habanero, Caujin, Louisiana Rub, and Spicy Korean
With more than 600 franchise units in the U.S. and 28 international locations as of 2014, and a menu boasting 10 proprietary flavors for its made-to-order cooked chicken wings, chicken sandwiches and boneless strips, the Wingstop company may appeal to you as a prospective franchise.
Today there are more than 1,250 restaurants open across the United States. As of June 2018, Wingstop has locations in the United States, United Kingdom, Australia, Saudi Arabia, Indonesia, Malaysia, Mexico, Panama, the Philippines, Russia, Singapore, Colombia, and United Arab Emirates. Wingstop states that location(s) in France are in the offing.
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