Wingstop Restaurants announced growth statistics for 2000 that indicate that the company is on an accelerated track.
The only company owned store topped one million in net sales in 2000, for the first time. The net sales of $1,279,774 was a 43% increase over the year before. The numbers are made more impressive by the fact that they were produced out of a 1,140 square foot restaurant. "Our concept is based around a very efficient operating system so that our franchisees can build to these kind of numbers," said Jim Deering, vice president of franchising. "The typical restaurant is approximately 1,200 square feet and does approximately 75% takeout business." Deering also added that their franchised stores that were two years or older averaged $13,342 net sales per week in 2000, a 61% increase over the previous year for the same stores, same period. "Bottom line, I don’t think the economy’s slowdown effects wing eaters. Many of our clientele are regulars, coming in one to two times a week as a means of meal replacement. "
The slowdown does not seem to have affected franchise sales. Swad also announced that after a little over two and a half years of selling franchises, there are now 23 restaurants open and 38 under development in Texas, Louisiana, Alabama, Georgia, Missouri, Colorado, and Oklahoma. Wingstop was ranked as one of the "Top 30 New Franchises" in Entrepreneur Magazine’s "Franchise 500" issue, as well second in the "Chicken Wing" category.
"We’re looking to increase Wingstop’s presence in the market to around 1000 stores. If we keep tracking at this pace, we should get there fairly quickly," said Antonio Swad, Wingstop founder and CEO.