Wings And Rings
Wings and Rings offers club-level sports restaurants specializing in Buffalo wings and other finger foods. Known for its robust menu and sports-themed atmosphere, this franchise operates in the quick-service restaurant sector.
About Wings And Rings
Wings & Rings is an American sports restaurant franchise based in Cincinnati. It offers a menu of Buffalo wings, burgers, salads, and sandwiches.
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Wings And Rings franchise FAQ
How much does it cost to open one — the total initial investment?
The total estimated initial investment to begin operation of a Wings and Rings ranges from $1,469,700 to $1,968,700. This includes the Franchise Fee and Development Rights Fee, as well as other costs not included in this figure [p.2].
What is the initial franchise fee?
The initial franchise fee is $40,000, but it may be reduced to $0 if you qualify for the Development Incentive Program [p.12].
What are the ongoing royalty and advertising fees?
The ongoing royalty fee is calculated as a percentage of the franchise restaurant sales and is recognized over time as revenue. The current advertising fee is 2% of Net Sales, which goes into the national advertising fund for various marketing activities [p.158, p.30].
How long is the initial franchise agreement, and can I renew it?
This isn't specified in the excerpts. The FDD does not provide information on the length of the initial franchise agreement or the terms for renewal.
Can I sell or transfer my franchise, and what does that require?
According to the FDD, you can transfer your ownership of the franchise, but the franchisor has the right not to unreasonably withhold its consent. To proceed with a transfer, you must pay the current transfer fee, which is $5,000 as of the information provided [p.105].
On what grounds can the franchisor terminate the agreement?
According to [p.3], a franchisor can terminate the franchise agreement prior to its expiration only for good cause, which includes the failure of the franchisee to comply with any lawful provision of the franchise agreement and failing to cure such failure after being given written notice and a reasonable opportunity (no more than 30 days) to do so.
What financial requirements — net worth and liquid capital — do I need to qualify?
To qualify, you must demonstrate adequate financial resources and capital to operate the business [p.106]. Specifically, you should have approximately $50,000 to $100,000 in additional funds for initial operating expenses such as payroll costs and working capital for the first 3 months of operation [p.22(H)]. This amount is an estimate, and actual needs may vary based on various factors including local economic conditions and business acumen [p.22(H)]. Additionally, you must have sufficient reserves to cover personal living expenses and potential operating losses during the start-up phase [p.22(H)].
Do I get an exclusive or protected territory?
Yes, you receive a protected territory. However, this does not provide exclusivity; other franchisees, including those owned by the company, can operate within your protected territory [p.38]. Additionally, special purpose outlets and existing systems that are similar to Wings and Rings Restaurants may also operate in your territory under certain conditions [p.38, p.37].
What training and ongoing support does the franchisor provide?
The franchisor provides a 5 to 7 week customized management training program before opening, which includes training for at least three management employees and an equity owner. This initial training is mandatory and must be completed to the franchisor's satisfaction before the restaurant can open [p.33]. Additionally, ongoing support includes preopening services such as training, and ongoing services like management of the advertising fund contributions, development of training materials and menu items, and restaurant monitoring [p.165].
How many franchised outlets are there, and how many have closed or been terminated?
This isn't specified in the excerpts.
Does the franchisor share any financial performance or earnings information?
The franchisor does not make any financial performance representations, either orally or in writing [p.57]. However, if purchasing an existing outlet, actual records of that outlet might be provided [p.57]. The franchisor may provide financial performance information only under specific conditions, such as having a reasonable basis and including it in the disclosure document [p.48]. This isn't specified in the excerpts for regular new franchisees regarding any guaranteed earnings or revenue projections.
What am I restricted to selling, and where must I buy supplies?
You are restricted to selling only those items, products, and services expressly approved by the franchisor [p.43]. You must sell all menu items required by the franchisor and cannot deviate from their methods, procedures, standards, and specifications [p.43]. Regarding supplies, you may have to buy or lease items from the franchisor or a limited group of suppliers designated by them, which might be more expensive than other options [p.6].