Risk Score
Pending analysis
Investment Range
$77,250 - $445,000
Franchise Fee
$15,000
Min Cash Required
$10,000
Total US Locations
12
Business Summary
Wing It On! operates quick service restaurants and mobile food trucks specializing in selling a wide variety of chicken wings and other menu items. Wing It On! offers dine-in, carry-out, and delivery options to its customers.
Corporate History
WIO Franchising LLC was organized in Nevada in January 2023. In the same month, Wing It On! acquired the assets of its predecessor, WIO Franchising, Inc. The predecessor company had been offering franchises since 2020. WIO Franchising LLC began offering franchises in February 2023.
Financial Overview
Investment Range
$77,250 - $445,000
Franchise Fee (Low)
$15,000
Franchise Fee (High)
$35,000
Minimum Cash Required
$10,000
Royalty %
6%
Marketing %
4%
Equipment Costs (Low)
$46,000
Equipment Costs (High)
$341,000
Working Capital
$25,000
Audited Financials
Yes
Offers Financing
No
Audit Opinion
Unqualified opinion
Financial Health Notes
WIO Franchising LLC currently has a negative Members' Equity (Deficit) of $64,118 as of January 2, 2024, indicating that its liabilities exceed its assets. While the company reported a net income of $50,884.99 for the 8 periods ending August 13, 2024, its total equity remains negative at ($13,232.38). The independent auditor's report noted that management is required to evaluate conditions that could raise substantial doubt about Wing It On!'s ability to continue as a going concern, although the auditor's opinion on the financial statements was unqualified.
Financing Details
Wing It On! does not offer any direct or indirect financing to its franchisees. Wing It On! also does not guarantee any franchisee's notes, leases, or other obligations.
Performance Metrics
Total US Locations
12
Franchised Units
11
Corporate Units
1
Avg Square Footage
1,500
Franchising Since
2023
Legal & Compliance Analysis
Recent Litigation
No
Bankruptcy
No
Litigation Summary
Wing It On! has no litigation history to report.
Bankruptcy History
Wing It On! has no bankruptcy history to report.
Agreement Terms
Initial Term
10 years
Renewal Term
10 years
Renewal Conditions
To renew their franchise agreement, Wing It On! franchisees must provide written notice between three and six months before the initial term expires. They must be in good standing and have faithfully performed all obligations under their original agreement. Franchisees are also required to refurbish their Wing It On! location and replace any obsolete equipment to meet current standards. Additionally, they must sign a general release of claims, execute a new franchise agreement (which may have materially different terms), pay a $15,000 renewal fee, and complete any required re-training.
Training & Support Program
Franchisor Assistance
Wing It On! offers comprehensive support to its franchisees. Before opening, Wing It On! helps by designating the franchise territory, providing building specifications, reviewing design plans, and approving the premises. The company also provides standards, specifications, and a list of approved suppliers for all decor, equipment, signs, fixtures, initial inventory, and products. Franchisees receive a list of all approved products and services they may offer. Wing It On! offers up to 14 days of site selection support and assistance, with additional support potentially incurring fees. Initial orientation and training are provided for franchisees and their designated managers, along with a loan of the Operations Manual and a list of approved suppliers. After opening, Wing It On! administers advertising programs and conducts national and regional promotions, and inspects franchises to ensure compliance with standards. Additional training and support are available upon request, though these may be subject to additional fees and reimbursement of Wing It On!'s costs.
Initial Training Hours
34
Training Location
Waterbury, CT or another designated location
Ongoing Support
After opening, Wing It On! franchisees can request additional training, with all associated expenses and fees borne by the franchisee. Wing It On! may also offer mandatory refresher training programs or business meetings which franchisees or their managers must attend, covering their own travel and living costs. Wing It On! administers advertising programs and conducts national and regional promotions, and inspects franchises to ensure compliance with quality and service standards. Additionally, Wing It On! may, at its discretion, provide other assistance such as advertising materials, literature, and updates on new products or marketing techniques.
Franchise Requirements
Ideal Candidate Profile
Wing It On! strongly recommends that its franchisees or one of their owners participate fully in the day-to-day operation of the franchise business. If the franchisee is an entity, any designated managers must successfully complete the mandatory training program. All owners, and their spouses if married, must sign a personal guarantee for the franchise's obligations.
Industry Experience Required
No
Management Experience Required
No
Sales Experience Required
No
Technical Skills Required
No
Operational Details
Location Type
Hybrid
Owner Participation
Supervisory
Territory Type
Protected
Territory Size Requirements
Wing It On! Restaurant Franchise territories are defined as a 5-mile radius from the approved location. For Food Truck Franchises, the territory is a specific geographic area, such as cities, counties, states, or zip code areas, which is referred to as a "trade area" and is determined in the franchise agreement. This trade area does not guarantee any exclusivity.
Staffing Notes
Wing It On! requires its franchisees to either participate fully in the day-to-day operations or designate a manager for this role. Both franchisees and any designated managers must complete a mandatory initial training program. If a designated manager leaves, a successor must begin the required training within 30 days, and no Wing It On! location can be opened or managed by individuals who have not successfully completed the franchisor's training. The franchisor may provide management or consultant resources at the franchisee's cost if a location fails to employ a qualified manager or if performance is unsatisfactory. Franchisees can also designate a social media manager to handle customer inquiries directly, or the franchisor may manage social media on the franchisee's behalf, including offering customer resolutions like coupons or discounts at the franchisee's expense. All Wing It On! employees are required to present a neat and clean appearance, wearing an approved uniform and hat.