The initial fee for becoming a Wing Kingz franchisee is £25,000 (plus VAT).
Included in this fee is:
✔ The full franchise licence and right to trade under our brand
✔ Full training and ongoing support
✔ Your own exclusive territory with excellent growth potential
✔ Access to our preferred suppliers for food, alcohol, packaging, and branding etc.
✔ A 6 week Sky advertisement package for your territory
The initial franchise agreement lasts for five years, which is renewable subject to certain criteria being met by the franchisee and in agreement with the franchisor.
Of course, there are also a number of other costs to consider, such as leasing and setting up your site, hiring or purchasing equipment, etc. These costs can vary from location to location, but we have prepared a detailed breakdown based on our current outlets which we are happy to discuss further with you.
You will also need to make sure you have a certain amount of working capital available to you to cover hiring staff, purchasing supplies and day-to-day costs while you build up your customer base in the local area.
All in all, we estimate the total capital required to open your own Wing Kingz restaurant to be £218,000 (exclusive of VAT) and we recommend you have a minimum liquid capital of £18,500.
Help raising funds
While Wing Kingz does not provide financing directly, there are a number of attractive options to help you with your investment.
For example, it may be possible to obtain funding from most major high street banks for some of the amount. Franchising is one of the safest and most secure ways of starting your own business, so many lenders rightfully see it as a much lower risk than a completely new start-up, and may be much more inclined to lend you money against your investment.
Becoming a franchisee of Wing Kingz is all about being your own boss, and growing your own business, so the majority of the money you make stays with you, of course. However, there are certain costs involved in maintaining our partnership.
Wing Kingz charges a Management Service Fee of 5% of your net annual turnover (well below the average charged by most other franchises!)
We also expect you to pay a further 2% of your net turnover as a contribution towards our national and local marketing efforts.