|
WOW Cafe & Wingery Franchise ProfileFood Franchises > Casual Dining |
What Are the Initial Investment Requirements for a WOW Cafe & Wingery Franchise?
To open a WOW Cafe & Wingery franchise, you should anticipate an initial investment ranging from $234,400 to $757,000. This includes a franchise fee that varies between $15,000 and $35,000. Additionally, you'll need to maintain a net worth of $250,000 to $500,000 and have cash available to cover the initial costs. It's essential to be financially prepared for both the startup expenses and the ongoing fees, which include a 5% royalty fee and a 2% marketing fee.
What Are the Financial Performance Metrics for WOW Cafe & Wingery?
WOW Cafe & Wingery franchises have shown promising financial performance, with an average annual revenue of approximately $2,583,061 per unit. The gross profit margin stands at about 43.07%, indicating a healthy return on sales. However, operating expenses account for nearly 46.58% of revenue, which franchisees should carefully manage to optimize profitability. The breakeven time is estimated at 12 months, with an investment payback period of about 22 months, making it a potentially lucrative option for aspiring franchisees.
What Are the Advantages of Joining the WOW Cafe & Wingery Franchise?
Joining the WOW Cafe & Wingery franchise offers several advantages, including a well-established brand known for its delicious menu and vibrant atmosphere. Franchisees benefit from comprehensive training and ongoing support, equipping them with the tools needed for success. The franchise model is designed to provide a strong community presence, helping franchisees attract a loyal customer base. With a focus on quality food and service, WOW Cafe & Wingery aims to create a rewarding experience for both franchisees and customers.
Is a WOW Cafe & Wingery Franchise Right for You?
Considering a WOW Cafe & Wingery franchise requires assessing your passion for the food industry and your readiness to manage a restaurant. The franchise appeals to individuals who enjoy a dynamic work environment and have a strong customer service orientation. While prior restaurant experience is beneficial, it is not a strict requirement. If you are eager to invest in a brand that prioritizes quality and community engagement, a WOW Cafe & Wingery franchise could be a fitting choice for you.
WOW Cafe & Wingery Franchise Financial Requirements
Below, you’ll find an overview of the initial investment needed to launch the business, along with the ongoing fees required by the franchisor to maintain operations over time.
The minimum total assets (minus liabilities) you must possess.
Net Worth Required:
The estimated period to recoup your total investment.
Investment Payback:
The initial fee paid to join the franchise system.
Franchise Fee:
Ongoing percentage of revenue paid to the franchisor.
Royalty Fee:
Regular contribution toward the franchise’s advertising fund.
Marketing Fee:
The estimated timeframe to recover your initial costs.
Breakeven Time:
The total amount required to launch the franchise.
Initial Investment:
The minimum liquid capital you must have on hand.
Cash Required:
The typical yearly revenue generated per franchise location.
Average Revenue:
The middle value of yearly revenue among franchise locations.
Median Revenue:
The largest reported annual revenue among franchisees.
Highest Revenue:
The smallest reported annual revenue among franchisees.
Lowest Revenue:
A broad sector defining similar types of franchise businesses.
Industry:
A more specific division within the broader industry.
Category:
The key individuals guiding the franchise’s strategy and growth.
Leadership:
The official business address of the franchisor’s headquarters.
Corporate Address:
Available financing options to help start the franchise.
Funding Year:
The main organization that owns the franchise brand.
Parent Company:
WOW Cafe & Wingery Franchise Unit Growth Summary
A breakdown of corporate, franchised, and total units, with yearly net changes.
Total Units
Franchised Units
Corporate Units
| Units | 2012 | 2013 | 2014 |
|---|---|---|---|
| Total Units | 66 | 64 | 63 |
| Net Change YoY | -2 | -1 | |
| Franchised Units | 66 | 64 | 63 |
| Net Change YoY | -2 | -1 | |
| Corporate Units | 0 | 0 | 0 |
| Net Change YoY | 0 | 0 |
Company Background
WOW Cafe & Wingery is a vibrant casual dining franchise specializing in wings, burgers, and a diverse menu that caters to a wide range of tastes. Established to create a fun and welcoming atmosphere, WOW Cafe emphasizes quality ingredients and customer satisfaction. With multiple locations, WOW Cafe has built a loyal customer base and is recognized for its unique flavors and engaging dining experiences.
Franchise Opportunity
Investing in a WOW Cafe & Wingery franchise offers aspiring entrepreneurs a chance to tap into the booming fast-casual dining market. With a low initial investment ranging from $234,400 to $757,000, franchisees can benefit from a well-established brand and a proven business model. The franchise provides comprehensive support, including training and marketing, ensuring that new franchisees have the tools they need to succeed.
Financial Overview
The financial metrics for WOW Cafe & Wingery indicate a strong revenue potential. With average annual revenue per unit reaching approximately $2,258,408, franchisees can expect a breakeven time of just 12 months. The investment payback period stands at 22 months, making it an attractive opportunity for those looking to generate a solid return on investment.
Royalty and Marketing Fees
Franchisees of WOW Cafe & Wingery are required to pay a royalty fee of 5% on gross sales, along with a marketing contribution of 2%. These fees are designed to support ongoing brand development and national marketing efforts, helping franchisees to attract and retain customers while benefiting from the collective strength of the brand.
Operational Support
WOW Cafe & Wingery provides extensive operational support to franchisees, including site selection, training, and ongoing assistance. The franchise team is dedicated to helping owners navigate the challenges of running a restaurant, from supply chain management to staff training, ensuring that each location operates efficiently and profitably.
Growth Potential
With a steady decline in the number of franchised units from 66 in 2012 to 63 in 2014, there exists an opportunity for growth in new markets. Franchisees can capitalize on this trend by expanding into underserved regions or enhancing their marketing strategies to boost customer engagement. The brand's adaptability and commitment to innovation position it well for future expansion and success.
Frequently Asked Questions
The initial investment for a WOW Cafe & Wingery franchise ranges from $234,400 to $757,000, which includes the franchise fee and other startup costs.