Wingstop are a fast-food chain with an almost zen-like focus on serving high-quality, buffalo-style chicken wings to the legions of fans who love their unique and proprietary recipes. Yes, Wingstop also sell the usual sides, such as fries, onion rings and beer, but they really are the sideshow. This is a place where the chicken always comes first.
Established in Garland, Texas in 1994, and offering franchises since 1997, Wingstop became a publicly listed entity in 2015. Currently, they operate 44 restaurants across the UK. The company claims current growth of 30% per year, and average annual sales per outlet of more than £1,250,000.
Wingstop at a glance:
It all depends on your location, or your willingness to follow the money. Single-outlet investors must live in the area where their store is located, so you may need to move if there are no new Wingstop opportunities near you. You will also need deep pockets. The brand requires a minimum net worth of £1,200,000 and liquid capital of £600,000 or more, with these figure rising for investors seeking more than one unit. Wingstop strongly recommend, but do not require the owner to personally manage the restaurant. You could buy into this franchise as a passive investor and hire a general manager to cover the daily grill.
Depending on location, the size of your restaurant, the size of your sales team, and many other variable cost factors, opening a new Wingstop franchise can cost from £150,000 up to £975,000.Â
After opening, you can expect to pay the usual range of ongoing fees and charges, including:
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| Key Costs Guide | Low | High |
|---|---|---|
| Franchise fee | £17,500 | £17,500 |
| Franchise fee | £20,000 | £20,000 |
| Security deposits | £0 | £10,000 |
| Store lease | Varies | Varies |
| Store build-out and improvements | £155,000 | £570,000 |
| Furniture and equipment | £56,000 | £147,000 |
| Décor package | £12,000 | £32,000 |
| Signage | £4,000 | £39,000 |
Yes. According to external research, the average initial investment to open a new Wingstop restaurant is £631,695 and the average annual sales per outlet are £1,460,459. Wingstop outlets generate an average net profit margin of 27% (£394,324 p.a), which indicates that you may recoup the typical initial investment in less than two years – a remarkable result for the highly competitive fast-food sector.Â
Very low. In the period 2019 through 2021, not a single Wingstop restaurant closed. The chain added more than 100 new outlets every year, even during the COVID-19 pandemic.
Strong growth, excellent profits, modest ‘buy-in’ price, and an incredibly fast return on investment are major reasons for considering a Wingstop franchise. Add the possibility of light-touch ownership, an ardent fan base, and unquenchable love for all things BBQ, and you have a highly potent opportunity. The only drawbacks are the high net worth and liquidity requirements. If you can get past those, this is a franchise to take seriously.
Wingstop awards their franchisees competitive protection in a trade zone around the restaurant. However, the scope of this protection can be quite complicated: Wingstop promise not to grant a franchise for another restaurant in this zone, and except for high-density population centres, each restaurant’s trade zone will consist of the area inside a radius extending outward from the outlet’s front door. The size of the radius will depend on population density, drive times, and similar factors. There is no set minimum or maximum radius.Â
Wingstop provides comprehensive support to their franchisees. Available resources include:
It starts with an application. You can begin the process here. After qualification, and assuming you have completed your financial homework and you still like what you see, you will be required to make an initial investment and then begin the Wingstop training program.
Starting a new franchise can be an exciting opportunity, but it’s easy to get lost in a maze of business loan applications that can turn funding your new chicken restaurant into a bone of contention. Instead, cut out the hassle and cut to the chase. Swoop has the best lenders for the best franchises across the UK. Just tell us what you need and leave the rest to us.
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Chris is a freelance copywriter and content creator. He has been active in the marketing, advertising, and publishing industries for more than twenty-five years. Writing for Barclays Bank, Metro Bank, Wells Fargo, ABN Amro, Quidco, Legal and General, Inshur Zego, AIG, Met Life, State Farm, Direct Line, insurers and pension funds, his words have appeared online and in print to inform, entertain and explain the complex world of consumer and business finance and insurance.
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