Wingstop Restaurants Franchise Information
Before potential franchisees can acquire license to operation one Wingstop Franchise, he/she should be able to qualify with the company’s set requirements.
Here are the facts and information you need to know on how to have your own franchise of Wingstop Restaurant.
What are the requirements for Winstop? One of the most typical requirements that the company looks for its potential franchisee is the financial capability to finance the operation of the franchise. The franchise capital requirement would be around $100,000 or more since the initial franchise investment can cost $60,000 to $70,000.
Other requirements would be retail space. Franchisees should make sure that they have the requirement minimum franchise retail requirement before the company would allow them to sign a contract deal.
Should the franchisee will have a problem with the store space, a company expert will be available to help them find one. Most store locations can be seen in areas where “daily needs” can also be found. This kind of positioning, with high visibility, gives the area advantage to the franchise since most people who go for shopping have to stop and eat.
Lease requirement can last for five years. Franchisees should also be able to provide ample parking space for customers who usually hang-out a longer period of time than other types of businesses in the market today.
When all of these are completed, it would sum up to an average of $250,000 for total franchise cost. An on-going royalty fee of five percent will also be deducted to the franchise’s annual revenue.
Other things that you need to have is previous business experience, formal education of around 2-years, a good psychological profile, and lastly, you should be able to pass the personal interview. Once all of these are checked, you’ll be able to sign the contract of 10-years that can be renewed should you wish to continue ownership of the franchise.
The company has been very careful in considering the personal qualification and experience and skills of potential franchisees.
In terms of franchise advertising, Wingstop have a central data processing center and field operation evaluation that can help you distinguish all your strong points and weak points in business operations. However, an additional fee will be required to have these services.
But the initial grand franchise opening will already be included in the franchising fee of $20,000. Regional and National meetings will also be free.
The corporate store franchise training will be held for two weeks to orient you and your staffs on how to run the franchise business. Other training will be held at the franchise store for one week.
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