WING-STOP

The most eye-popping stat hits immediately: average gross sales clock in at $2,128,349 with a median of $2,001,753 (Item 19, 2025 FDD), numbers that dwarf typical QSR benchmarks and signal strong unit-level economics in a digital-takeout heavy model. Initial investment spans $298,200-$1,013,500 (Item 7), including a $25,000 franchise fee, driven by 1,200-2,000 sq ft builds in high-traffic centers—leasehold improvements and equipment eat the bulk at $200K+. Ongoing fees bite at 6% royalty plus 5.5% ad fund, plus minor $50/month tech fees, totaling 11.5%+ of sales. No direct profit figures, but high topline suggests healthy EBITDA potential after 30-35% food costs and labor, especially with minimal dine-in overhead.

System health screams opportunity: locations surged 15% from 1,877 (2023) to 2,154 (2024), with 277 projected openings and 90 transfers indicating active resale market (Item 20). Just 50 corporate units underscore franchise reliance. SBA stats shine brightest—213 loans averaging $420,941 default at only 0.5%, vs. industry norms over 10%, reflecting proven cash flow reliability. Litigation clusters around terminations and international disputes (Item 3), but domestic ops appear stable. For investors, this profiles as a premium play: lofty entry but validated by revenue firepower and expansion velocity—ideal if you stomach wing market saturation risks.