In this exclusive Franchise Chatter FDD Talk post, you’ll learn the following:
Section I – Estimated initial investment (franchise costs) for a Wings Over franchise, based on Item 7 of the company’s 2023 FDD
Section II – Initial franchise fee, royalty fee, and marketing fee for a Wings Over franchise, based on Items 5 and 6 of the company’s 2023 FDD
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Section IV – News updates on the Wings Over franchise opportunity
Section V – Presentation and analysis of Wings Over’s financial performance representations (average revenues and/or profits), based on Item 19 of the company’s 2023 FDD, including information on the:
- 2020, 2021, and 2022 average, median, high, and low gross sales for the franchised Wings Over businesses that were open for the entire 2020 fiscal year (October 1, 2019 to September 30, 2020), the entire 2021 fiscal year (October 1, 2020 to September 30, 2021), and the entire 2022 fiscal year (October 1, 2021 to September 30, 2022), respectively, with certain exceptions
- 2020, 2021, and 2022 average, median, high, and low gross sales for the company-owned Wings Over businesses that were open for the entire 2020 fiscal year, the entire 2021 fiscal year, and the entire 2022 fiscal year, respectively, with certain exceptions
Section VI – Key ratios, comparables, computations, and analyses for the Wings Over franchise opportunity (exclusive content for Platinum subscribers)
Section I – Wings Over Franchise Costs
- Wings Over franchise costs, based on Item 7 of the company’s 2023 FDD:
- Initial Franchise Fee: $30,000
- Real Estate Lease Deposits: $1,500 to $8,000
- Leasehold Improvements: $25,000 to $330,000
- Furniture, Equipment, Signs, and Fixtures: $80,000 to $190,000
- Point-of-Sale System and Software: $15,000 to $25,875
- Inventory (Paper, Food, Supplies): $4,000 to $20,000
- Branded Merchandise and Uniforms: $12,500
- Travel and Living Expenses for Training: $2,000 to $5,000
- Grand Opening Local Advertising and Promotional Program: $5,000
- Advertising: $1,000 to $3,000
- Insurance: $5,000 to $20,000
- Permits, Health, Occupancy: $1,000 to $2,000
- Utilities: $3,000
- Legal and Accounting: $1,000 to $2,500
- Additional Funds for 3 Months: $12,000 to $45,000
- Total Estimated Wings Over Franchise Costs: $198,000 to $701,875
Section II – Wings Over’s Initial Franchise Fee, Royalty Fee, and Marketing Fee
- Wings Over’s initial franchise fee, royalty fee, and marketing fee, based on Items 5 and 6 of the company’s 2023 FDD:
- Initial Franchise Fee: $30,000
- Royalty Fee: 5% of gross sales
- Local Advertising: 2% of gross sales
- Advertising Cooperative: up to $10,000 annually
- Advertising Fund: up to 2% of gross sales
Section III – Number of Franchised and Company-Owned Wings Over Outlets
Franchised
2020
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When I owned a UPS Store, I learned firsthand how much your ZIP code shapes your outcome. I sold my store at a premium because my territory was in a high-value area. The best areas go first, and once they're gone, they're gone. Enter your ZIP code, and a territory specialist will walk you through the franchises still available near you, drawing on information that isn't publicly accessible, saving you months of wasted research.🔴Free Webinar: 6 Under-the-Radar Franchise Concepts That Serious Buyers Should Know
Every month we feature 6 standout franchises that could be the opportunity you've been looking for, each evaluated on disclosed financials and matched to the type of buyer most likely to succeed with it. Can't attend live on October 27 at 6PM EST? Register now and we'll send you the full recording the next day. Reserve your spot here.- Outlets at the Start of the Year: 30
- Outlets at the End of the Year: 26
- Net Change: -4
2021
- Outlets at the Start of the Year: 26
- Outlets at the End of the Year: 30
- Net Change: +4
2022
- Outlets at the Start of the Year: 30
- Outlets at the End of the Year: 29
- Net Change: -1
Company-Owned
2020
- Outlets at the Start of the Year: 8
- Outlets at the End of the Year: 8
- Net Change: 0
2021
- Outlets at the Start of the Year: 8
- Outlets at the End of the Year: 7
- Net Change: -1
2022
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When I owned a UPS Store, I learned firsthand how much your ZIP code shapes your outcome. I sold my store at a premium because my territory was in a high-value area. The best areas go first, and once they're gone, they're gone. Enter your ZIP code, and a territory specialist will walk you through the franchises still available near you, drawing on information that isn't publicly accessible, saving you months of wasted research.📈Dreaming of Multi‑Unit Success? Lock In Prime Territories Before They're Gone.
Colin started as a team member at 21 and now owns 6 locations in Tampa Bay. Lisa came from marketing and built 21 in San Diego. The most successful multi-unit owners move early and secure markets with room to grow. Use our free tool to search multiple ZIP codes and find franchises where you can still stack locations, before someone else does. A franchise specialist will be in touch to present what's available.- Outlets at the Start of the Year: 7
- Outlets at the End of the Year: 6
- Net Change: -1
Section IV – News Updates on the Wings Over Franchise
Section V – Financial Performance Representations (Average Revenues and/or Profits) for the Wings Over Franchise (Item 19, 2023 FDD)
- This Item 19 presents historical Gross Sales data for franchised and company-owned Wings Over businesses that were open for the entire 2020 fiscal year (October 1, 2019 to September 30, 2020), the entire 2021 fiscal year (October 1, 2020 to September 30, 2021), and the entire 2022 fiscal year (October 1, 2021 to September 30, 2022), respectively, with certain exceptions (as described below).
- Wings Over has not audited or verified this information. Wings Over relied solely on the information provided through each outlet’s point-of-sale computer systems.
- “Gross Sales” means all revenue from the sale of all products and services and all other income of every kind and nature at or from the Restaurant or otherwise related to the Restaurant, including any proceeds from business interruption insurance, whether for cash or credit, and regardless of collection in the case of credit.
- Gross Sales will not include any sales taxes or other taxes collected from customers by you and paid directly to the appropriate taxing authority.
Part 1 – Gross Sales for Franchised Outlets
- Part 1 below presents Gross Sales information for certain franchised outlets in operation during fiscal years 2020, 2021, and 2022.
- Gross Sales presented for fiscal year 2020 were generated by 27 of the 30 franchised outlets in operation during that fiscal year, including 1 franchised outlet that operated for all but 1 month of the fiscal year and then closed permanently. The information provided does not include 1 other franchised outlet that ceased operating under a franchise agreement during fiscal year 2020, nor 2 franchised outlets that were reacquired by Wings Over during that fiscal year.
- In fiscal year 2020, 12 (44%) of the 27 reported franchised outlets met or exceeded the average Gross Sales figure for those 27 outlets, and 15 (56%) of the 27 reported franchised outlets did not meet or exceed that average Gross Sales figure.
- Gross Sales presented for fiscal year 2021 were generated by 25 of 31 franchised outlets operating during that fiscal year. The information provided does not include 4 franchised outlets that opened during that fiscal year, 1 franchised outlet that operated for all but 1 month of that fiscal year and then closed permanently, and 1 franchised outlet that closed for approximately 3 months during that fiscal year due to a fire on the premises of a business located next door.
- In fiscal year 2021, 10 (40%) of the 25 reported franchised outlets met or exceeded the average Gross Sales figure for those 25 outlets, and 15 (60%) of the 25 reported franchised outlets did not meet or exceed that average Gross Sales figure.
- Gross Sales presented for fiscal year 2022 were generated by 25 of 32 franchised outlets operating during that fiscal year. The information provided does not include 2 franchised outlets that opened during that fiscal year, nor 3 franchised outlets that ceased operating under a franchise agreement during fiscal year 2022. The information provided also does not include 1 franchised outlet that remained closed for the first 3 months of the fiscal year due to a fire on the premises of a neighboring business, nor 1 franchised outlet that temporarily closed due to relocation.
- In fiscal year 2022, 8 (32%) of the 25 reported franchised outlets met or exceeded the average Gross Sales figure for those 25 outlets, and 17 (68%) of the 25 reported franchised outlets did not meet or exceed that average Gross Sales figure.
2020
- Number of Outlets: 27
- Highest Gross Sales: $3,202,274
- Average Gross Sales: $1,459,867
- Median Gross Sales: $1,432,480
- Lowest Gross Sales: $491,856
2021
- Number of Outlets: 25
- Highest Gross Sales: $2,802,076
- Average Gross Sales: $1,457,093
- Median Gross Sales: $1,346,330
- Lowest Gross Sales: $631,164
2022
- Number of Outlets: 25
- Highest Gross Sales: $3,236,785
- Average Gross Sales: $1,436,391
- Median Gross Sales: $1,284,089
- Lowest Gross Sales: $668,388
Part 2 – Gross Sales of Company-Owned Outlets
- Part 2 below presents Gross Sales information for certain company-owned outlets in operation during fiscal years 2020, 2021, and 2022.
- Gross Sales presented for fiscal year 2020 were generated by 8 of the 8 company-owned outlets operating during that fiscal year, including 1 company-owned outlet that closed for approximately 4 months during that fiscal year due to the impact of the COVID-19 pandemic, and 2 franchised outlets that were reacquired by Wings Over or its affiliate during that fiscal year.
- In fiscal year 2020, 4 (50%) of the 8 reported company-owned outlets met or exceeded the average Gross Sales figure for those 8 outlets, and 4 (50%) of the 8 reported company-owned outlets did not meet or exceed that average Gross Sales figure.
- Gross Sales presented for fiscal year 2021 were generated by 6 of the 9 company-owned outlets operating during that fiscal year. The information provided for fiscal year 2021 excludes 1 new company-owned outlet that opened during that fiscal year and 1 existing company-owned outlet that closed during that fiscal year, both of which were in operation for less than 6 months; and 1 company-owned outlet that was sold to a franchisee during that fiscal year.
- In fiscal year 2021, 3 (50%) of the 6 reported company-owned outlets met or exceeded the average Gross Sales figure for those 6 outlets, and 3 (50%) of the 6 reported company-owned outlets did not meet or exceed that average Gross Sales figure.
- Gross Sales presented for fiscal year 2022 were generated by 6 of the 7 company-owned outlets operating during that fiscal year. The information provided for fiscal year 2022 excludes 1 company-owned outlet that closed during that fiscal year, which was in operation for less than 9 months.
- In fiscal year 2022, 3 (50%) of the 6 reported company-owned outlets met or exceeded the average Gross Sales figure for those 6 outlets, and 3 (50%) of the 6 reported company-owned outlets did not meet or exceed that average Gross Sales figure.
2020
- Number of Outlets: 8
- Highest Gross Sales: $2,778,952
- Average Gross Sales: $1,010,640
- Median Gross Sales: $1,247,651
- Lowest Gross Sales: $342,439
2021
- Number of Outlets: 6
- Highest Gross Sales: $3,114,960
- Average Gross Sales: $1,726,916
- Median Gross Sales: $1,604,137
- Lowest Gross Sales: $751,957
2022
- Number of Outlets: 6
- Highest Gross Sales: $3,084,880
- Average Gross Sales: $1,734,001
- Median Gross Sales: $1,546,500
- Lowest Gross Sales: $1,024,973
- “Gross Sales” means all revenue from the sale of all products and services and all other income of every kind and nature at or from the Restaurant or otherwise related to the Restaurant, including any proceeds from business interruption insurance, whether for cash or credit, and regardless of collection in the case of credit.
- Gross Sales will not include any sales taxes or other taxes collected from customers by you and paid directly to the appropriate taxing authority.
- The products and beverages sold at all of the above locations are similar to those that will be offered by you, including boneless chicken wings, bone-in chicken wings, ribs, specialty sandwiches, and Coca Cola products. The outlets obtained the majority of sales from carry-out and delivery services.
- Some outlets have earned this amount. Your individual results may differ. There is no assurance that you’ll earn as much.
Section VI – Wings Over Franchise Ratios, Comparables, Computations, and Analyses (Exclusive Content for Platinum Subscribers) ⬇️
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