Opening a Wingstop franchise involves various fees and costs. Here’s a breakdown of the financial aspects to consider:
Franchise Fees:
The franchise fee for a Wingstop store is $20,000 per location. Additionally, there is a development fee of $10,000 per store. These upfront fees grant you the right to use the Wingstop brand and access their proven business model.
Ongoing Royalty and Marketing Fees:
As a Wingstop franchisee, you are required to pay ongoing fees to the company. This includes a royalty fee of 6% of your monthly gross sales, which goes towards continued support and brand development. You will also need to contribute to marketing and local advertising efforts.
Financing Options:
While Wingstop does not directly offer financing, they have established relationships with third-party lenders who can assist franchisees with financing options. These lenders are experienced in working with franchise businesses and can help you secure the necessary funds to start your Wingstop franchise.
It’s important to note that Wingstop also offers a discount on the franchise fee for veterans, as a way to support them in their entrepreneurial pursuits.
Now let’s take a look at the costs associated with owning a Wingstop franchise:
