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Home > Franchises > Wingstop Restaurants Inc.
Wingstop Restaurants Inc.
A franchise agreement takes place when the concerned parties involved are bound together through certain contractual provisions. This is an arrangement whereby someone with an idea for a business, the franchisor, sells to another person the franchisee the rights to use the business's name, sell a product, or provide a service to someone else. A franchise agreement will usually specify the given territory the franchisee retains exclusive control over the area protection, as well as the extent to which the franchisee will be supported by the franchisor.
In 1994, Antonio Swad founded Wingstop Restaurants Inc. in response to the increasing fame of buffalo-style chicken wings. In 1998, the privately owned company began franchising. It has more than 19 stores in operation, with numerous others in development throughout the southern United States. Wingstop is based in Garland, Texas. Franchisor is a privately held company with 12 employees, 2 employees in franchise department.
The Wingstop Franchise Program offers opportunities for single unit franchises in designated markets across the United States. There are outstanding opportunities available for multi-unit developers in some of the most highly ranked markets in the United States. Major metropolitan areas require that multi-unit developers develop a minimum of three stores.
They need that single-unit operators have a minimum net worth of $250,000 of which $100,000 must be liquid capital. Multi-unit developers must have liquidity totaling $100,000 per store that they are seeking to develop. Single-unit developers must live in the market they are seeking to develop. Multi-unit developers must either live or operate existing businesses in the market they are seeking to develop. Multi-unit developers must have restaurant operational or development experience.
The costs and fees include total investment of $202400 to 335900, franchise fee is $20000, ongoing royalty fee is 5 percent and Term of agreement is 10 years, renewable. The company’s ranking in Franchise 500 is 332 in 2006, 89 in 2005, 116 in 2004, 150 in 2003, and 251 in 2002 according to Entrepreneur magazine 2002-2006.
Wingstop features nine proprietary wing flavors, including Original Hot, Cajun, Atomic, Mild, Teriyaki, Lemon Pepper, Hawaiian Barbeque, Garlic Parmesan, and Hickory Smoked BBQ. The wings are always made fresh to order and served steaming-hot. Wingstop also offers a range of delicious sides including fresh-cut fries, soft drinks, beers and wine.
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