Wingstop Inc. (Wing): Business Model Canvas [Jan-2025 Mis à jour]

Dive dans le monde salé de Wingstop, où un modèle commercial méticuleusement conçu transforme un simple concept d'aile de poulet en un 2 milliards de dollars Powerhouse à restauration rapide rapide. Des plates-formes de commande numérique innovantes aux franchisages stratégiques, Wingstop a révolutionné comment l'Amérique vit des ailes pleine de saveurs, capturant le cœur des milléniaux, des amateurs de sport et des passionnés de nourriture à l'échelle nationale. Découvrez les ingrédients secrètes de leur succès remarquable et explorez comment cet empire d'aile de poulet a stratégiquement construit un modèle commercial qui va bien au-delà de la simple servir de délicieuses ailes.

Wingstop Inc. (Wing) - Modèle commercial: partenariats clés

Partenariats de gestion de la chaîne d'approvisionnement alimentaire

Wingstop collabore avec les grandes sociétés de distribution alimentaire pour assurer une gestion cohérente de la chaîne d'approvisionnement:

Partenaire	Valeur du contrat annuel	Couverture de l'offre
Sysco Corporation	85,3 millions de dollars	62% de l'approvisionnement total des ingrédients
Aliments américains	47,6 millions de dollars	38% de l'approvisionnement total des ingrédients

Fournisseurs d'équipements de restauration

Partenariats stratégiques avec les fabricants d'équipements:

• Middleby Corporation - Fournisseur d'équipement de cuisine primaire
• Alto-Shaam - équipement de cuisson de poulet spécialisé
• Hobart - Appareils de cuisine commerciaux

Plates-formes de livraison tierces

Partenaire de livraison	Pourcentage de commandes numériques	Taux de commission
Doordash	48%	25-30%
Uber mange	27%	22-28%
Grubhub	15%	20-25%

Partenaires de développement de franchise

Métriques d'extension de la franchise:

• Lieu de franchise total: 1 738 restaurants
• Couverture de franchise intérieure: 49 États
• Présence de franchise internationale: 7 pays

Investissement de développement de franchise: 12,4 millions de dollars en 2023

Wingstop Inc. (Wing) - Modèle d'entreprise: activités clés

Production de poulet et innovation de menu

En 2023, Wingstop a obtenu environ 291 millions de livres d'ailes de poulet. L'entreprise opère avec 12 saveurs d'ailes différentes et maintient 5 catégories de menu permanentes.

Catégories de saveurs de l'aile	Nombre de saveurs
Ailes classiques	5
Ailes désossées	3
Saveurs de spécialité	4

Franchisage et expansion des restaurants

Au quatrième trimestre 2023, Wingstop a exploité 1 943 restaurants au total, avec 1 697 emplacements nationaux et 246 emplacements internationaux. Les restaurants appartenant à des franchises représentaient 96,3% du total des unités.

Type de restaurant	Compte total	Pourcentage
Restaurants domestiques	1,697	87.3%
Restaurants internationaux	246	12.7%

Développement de la plate-forme de commande et de marketing numérique

En 2023, les ventes numériques représentaient 55,8% des ventes totales, avec une valeur de commande numérique moyenne de 25,47 $.

• Téléchargements d'applications mobiles: 6,5 millions
• Transactions de plate-forme numérique: 71,3 millions
• Channeaux de commande en ligne: site Web, application mobile, plateformes de livraison tierces

Marketing de marque et gestion de l'expérience client

Wingstop a investi 62,4 millions de dollars dans les dépenses de marketing en 2023, en se concentrant sur les campagnes numériques et sur les réseaux sociaux.

Canal de marketing	Pourcentage d'investissement
Marketing numérique	42%
Réseaux sociaux	28%
Médias traditionnels	30%

Contrôle de la qualité et normalisation de la préparation des aliments

Wingstop maintient des protocoles de contrôle de qualité stricts dans tous les restaurants, avec des normes de préparation centralisées.

• Certifications de sécurité alimentaire: ISO 22000
• Audits de qualité hebdomadaire: 100% des emplacements de franchise
• Temps de cuisson standardisé: 7-10 minutes par lot

Wingstop Inc. (Wing) - Modèle d'entreprise: Ressources clés

Recettes et techniques de cuisson des ailes propriétaires

Wingstop maintient 11 saveurs d'aile signature à partir de 2024. La société a développé recettes propriétaires uniques avec des techniques de cuisine spécialisées.

Catégorie de saveur de l'aile	Nombre de saveurs
Saveurs classiques	6
Saveurs de spécialité	5

Infrastructure de franchisage approfondie

Depuis le quatrième trimestre 2023, Wingstop fonctionne:

• 1 930 restaurants au total
• 1 697 emplacements franchisés
• 233 restaurants appartenant à l'entreprise
• Présence dans 47 États américains
• Présence internationale dans 7 pays

Technologie numérique et plate-forme de commande mobile

Les ventes numériques représentaient 54,5% du total des ventes en 2023. Les fonctionnalités de l'application mobile comprennent:

• Commande numérique
• Intégration du programme de fidélité
• Options de paiement sans contact

Reconnaissance de la marque

Métrique	Valeur 2023
Revenus totaux	542,4 millions de dollars
Revenu net	98,7 millions de dollars

Réseau de chaîne d'approvisionnement centralisée et de distribution

Wingstop utilise un modèle de distribution centralisé avec des partenariats stratégiques.

• Fournisseur de protéines primaires: Tyson Foods
• Centres de distribution nationaux: 3 emplacements principaux
• Procurement hebdomadaire des ailes: environ 2,5 millions de livres

Wingstop Inc. (Wing) - Modèle d'entreprise: propositions de valeur

Ailes de poulet de haute qualité et régulièrement préparées

Wingstop dessert 3,6 milliards d'ailes par an en 2023. La taille moyenne des portions d'aile est de 10 ailes par commande. La préparation des ailes de poulet suit des normes de contrôle de qualité strictes avec une température de cuisson constante de 350 ° F.

Métriques de préparation des ailes	Volume annuel	Norme de qualité
Total des ailes servies	3,6 milliards	Température cohérente
Taille moyenne de la commande	10 ailes	Cuisine 350 ° F

Options de saveurs personnalisables et variété de menu

Offre 11 saveurs d'aile signature avec un potentiel de personnalisation à 100%. Le menu comprend:

• Buffle chaud classique
• Cajun
• Poivre citron
• Parmesan à l'ail

Expérience de commande numérique rapide et pratique

Les ventes numériques représentent 54,5% du total des ventes en 2023. Les téléchargements d'applications mobiles ont dépassé 5 millions. La valeur moyenne de la commande numérique est de 24,37 $.

Métriques de commande numérique	Performance de 2023
Pourcentage de ventes numériques	54.5%
Téléchargements d'applications mobiles	5 millions +
Valeur de commande numérique moyenne	$24.37

Concept de restauration décontractée abordable

Le prix moyen des repas varie entre 12 $ et 15 $. Fournit une expérience culinaire axée sur la valeur avec une stratégie de tarification compétitive.

Marque de restaurant unique axée sur la saveur

Exploite 1 930 restaurants dans le monde au quatrième trimestre 2023. Présence internationale dans 14 pays. Nombre de restaurants domestiques: 1 736 emplacements.

Métriques d'expansion de la marque	2023 données
Total des restaurants mondiaux	1,930
Pays internationaux	14
Lieux nationaux	1,736

Wingstop Inc. (Wing) - Modèle d'entreprise: relations clients

Programme de fidélité des applications mobiles

Le programme Wingstop Rewards a déclaré 9,5 millions de membres actifs au T4 2023. Les ventes numériques ont représenté 52,4% des ventes totales en 2023. Les téléchargements d'applications mobiles ont atteint 6,2 millions d'utilisateurs uniques. Loyauté Les membres génèrent 3,5 fois plus de revenus par rapport aux non-membres.

Métrique	Valeur
Membres de fidélité active	9,5 millions
Pourcentage de ventes numériques	52.4%
Téléchargements d'applications mobiles	6,2 millions

Engagement des médias sociaux

Wingstop maintient une présence active sur les réseaux sociaux sur toutes les plateformes:

• Followers Instagram: 1,4 million
• TIKTOK APIRES: 850 000
• Twitter Followers: 320 000
• Taux d'engagement moyen: 3,2%

Marketing numérique personnalisé

Wingstop utilise des stratégies de marketing ciblées avec:

• Campagnes par e-mail personnalisées atteignant 5,7 millions d'abonnés
• Taux de conversion de 4,6% des efforts de marketing numérique
• Coût moyen d'acquisition du client: 12,50 $

Normes de service client cohérentes

Métrique de service	Performance
Temps de réponse moyen	2,3 heures
Score de satisfaction du client	4.2/5
Taux de résolution des plaintes	94%

Expérience de commande en ligne interactive

Caractéristiques de la plate-forme de commande en ligne:

• Valeur moyenne de la commande: 24,60 $
• Fréquence de commande en ligne: 2,7 fois par mois par client
• Taux de conversion de la plate-forme: 6,8%
• La commande mobile représente 42,3% des ventes numériques

Wingstop Inc. (Wing) - Modèle d'entreprise: canaux

Application mobile

Au quatrième trimestre 2023, Wingstop a rapporté 3,2 millions d'utilisateurs numériques actifs via leur application mobile. Les ventes numériques représentaient 34,7% du total des ventes en 2023, les applications mobiles contribuant de manière significative à ce pourcentage.

Métriques d'application mobile	2023 données
Utilisateurs numériques actifs	3,2 millions
Pourcentage de ventes numériques	34.7%

Site Web de l'entreprise

Le site Web de Wingstop sert de plate-forme de commande en ligne directe avec intégration sur plusieurs appareils. En 2023, le site Web a traité environ 1,2 milliard de dollars de ventes numériques.

Plates-formes de livraison tierces

Wingstop s'associe à plusieurs plateformes de livraison, notamment:

• Doordash
• Uber mange
• Grubhub

Plate-forme de livraison	Contribution des ventes 2023
Doordash	42% de la livraison tierce
Uber mange	33% de la livraison tierce
Grubhub	25% de la livraison tierce

Salle à manger en magasin

Wingstop exploite 1 943 restaurants au total au 31 décembre 2023, avec 1 697 emplacements nationaux et 246 emplacements internationaux soutenant les repas en magasin.

Service au volant

Depuis 2023, Environ 40% des emplacements Wingstop Offrez le service au volant, représentant un segment croissant de leurs canaux de livraison.

Emplacements au volant	Pourcentage
Total des restaurants avec service au volant	40%

Wingstop Inc. (Wing) - Modèle d'entreprise: segments de clientèle

Millennials et consommateurs de la génération Z

En 2023, la démographie du client principal de Wingstop comprend 18 à 34 ans qui représentent 44,2% de la clientèle du restaurant. La pénétration de commande numérique pour ce segment atteint 67,3% du total des ventes.

Groupe d'âge	Pourcentage de clientèle	Pourcentage de commande numérique
18-24 ans	22.7%	58.6%
25-34 ans	21.5%	72.4%

Fans de sport et amateurs d'ailes

Wingstop capture environ 12,5% du marché des restaurants liés au sport avec des ventes de pointe lors d'événements sportifs majeurs. La valeur moyenne des commandes pour les amateurs de sport atteint 24,50 $.

• Les ventes du jour du jeu de la NFL augmentent de 38,6%
• Les ventes du jour du jeu NBA augmentent de 32,4%
• Le week-end du Super Bowl génère 4,2 millions de dollars de revenus supplémentaires

Marché de la restauration rapide

Wingstop occupe 3,7% du segment des restaurants sans case rapide avec 2,1 milliards de dollars de revenus annuels en 2023.

Segment de marché	Part des revenus	Revenus annuels
Salle à manger rapide	3.7%	2,1 milliards de dollars

Clients à emporter et à livrer

Les canaux numériques et hors site représentent 63,5% des ventes totales de Wingstop en 2023, les plateformes de livraison représentant 42,3% de ces ventes.

• Croissance des commandes en ligne: 27,6% en glissement annuel
• Ventes de plate-forme de livraison tierce: 892 millions de dollars
• Valeur de commande numérique moyenne: 28,70 $

Salle à manger de la famille et de groupe

Les commandes familiales et de groupe représentent 29,4% des ventes totales de Wingstop, avec une taille de commandes de groupe moyenne de 3,6 personnes.

Type de commande	Pourcentage de ventes	Taille du groupe moyen	Valeur de commande moyenne
Salle à manger familiale / groupe	29.4%	3,6 personnes	$45.20

Wingstop Inc. (Wing) - Modèle d'entreprise: Structure des coûts

Acharnement des ingrédients alimentaires

En 2024, les coûts des ingrédients alimentaires de Wingstop représentent environ 30 à 35% des revenus totaux. L'entreprise s'approvisionne sur les ailes de poulet de plusieurs fournisseurs, avec un coût d'approvisionnement moyen de 2,15 $ la livre.

Catégorie d'ingrédient	Coût d'achat annuel	Pourcentage de coûts alimentaires
Ailes de poulet	187,4 millions de dollars	42%
Sauces et assaisonnements	42,6 millions de dollars	9.6%
Autres ingrédients alimentaires	214,3 millions de dollars	48.4%

Soutien et développement de la franchise

Wingstop investit considérablement dans le soutien de la franchise, avec des dépenses annuelles liées à la franchise totalisant 24,3 millions de dollars en 2023.

• Franchisés Coûts d'intégration: 15 000 $ par nouvelle franchise
• Infrastructure annuelle de soutien à la franchise: 8,7 millions de dollars
• Dépenses du programme de formation: 3,6 millions de dollars

Infrastructure technologique numérique

L'investissement technologique pour 2024 est prévu à 17,2 millions de dollars, en se concentrant sur les plateformes de commande numérique et les systèmes opérationnels.

Zone d'investissement technologique	Dépenses annuelles
Plateforme de commande numérique	7,8 millions de dollars
Logiciel opérationnel	5,4 millions de dollars
Cybersécurité	4 millions de dollars

Marketing et promotion de la marque

Les frais de marketing pour Wingstop en 2024 sont estimés à 62,5 millions de dollars, ce qui représente environ 5,8% des revenus totaux.

• Marketing numérique: 24,3 millions de dollars
• Publicité traditionnelle: 18,7 millions de dollars
• Campagnes de médias sociaux: 9,5 millions de dollars
• Événements promotionnels: 10 millions de dollars

Dépenses opérationnelles du restaurant

Les dépenses opérationnelles totales pour les restaurants Wingstop en 2024 sont prévues à 415,6 millions de dollars.

Catégorie de coûts opérationnels	Dépenses annuelles	Pourcentage du total des coûts opérationnels
Travail	228,6 millions de dollars	55%
Services publics	62,3 millions de dollars	15%
Entretien	41,6 millions de dollars	10%
Loyer et occupation	83,1 millions de dollars	20%

Wingstop Inc. (Wing) - Modèle d'entreprise: Strots de revenus

Frais de redevance de franchise

Depuis le quatrième trimestre 2023, Wingstop a rapporté 19,6 millions de dollars en frais de redevance de franchise. Le taux de redevance de la franchise de l'entreprise est 5,5% des ventes du franchisé. Le nombre total de restaurants de franchise était 1 943 emplacements, avec 1 736 restaurants nationaux et 207 internationaux.

Métrique	Valeur
Taux de redevance franchise	5.5%
Restaurants de franchise totale	1,943
Frais de redevance de la franchise (Q4 2023)	19,6 millions de dollars

Ventes de restaurants appartenant à l'entreprise

Wingstop fonctionne 97 restaurants appartenant à l'entreprise. En 2023, ces emplacements ont généré 51,4 millions de dollars de ventes totales.

Commissions d'ordre numérique

Ventes numériques représentées 64,4% du total des ventes en 2023. Les ventes numériques totales étaient 3,2 milliards de dollars.

Métrique de vente numérique	Valeur
Pourcentage de ventes numériques	64.4%
Ventes numériques totales (2023)	3,2 milliards de dollars

Marchandises et ventes de produits de marque

Wingstop génère des revenus supplémentaires à travers Ventes de marchandises de marque, bien que des chiffres de revenus spécifiques ne soient pas divulgués publiquement.

Revenus de restauration et d'ordre important

Les revenus importants de l'ordre et de la restauration contribuent aux ventes globales de l'entreprise, avec environ 15% du total des ventes provenant des commandes de groupe et de restauration.

Métrique de vente de restauration	Valeur
Pourcentage de vente de restauration	15%

Wingstop Inc. (WING) - Canvas Business Model: Value Propositions

You're looking at what makes the Wingstop Inc. offering so compelling to both customers and, perhaps more importantly, to the franchisees who are putting up the capital. The core value rests on a focused menu that delivers on taste and convenience, backed by unit economics that keep the expansion engine running hot.

The specialization is key here. Wingstop Inc. doesn't try to be everything to everyone; it focuses on being the flavor expert for chicken. This focus allows for mastery over a tight, high-quality offering. You get specialized, cooked-to-order chicken wings and tenders, which are hand sauced-and-tossed in 12 distinct flavors. This limited but deep menu simplifies kitchen operations while maximizing flavor impact for the guest.

Convenience is baked into the operating model, not bolted on. This is an extreme convenience through a digital-first, delivery-centric model. For the fiscal third quarter ending September 27, 2025, digital sales accounted for 72.8% of system-wide sales. That high percentage shows how much the business relies on off-premise channels, which is a major value driver for modern consumers.

Honestly, the most powerful value proposition for the business itself is the industry-leading franchisee unit economics. Franchisees are committing capital at an accelerating pace because the returns are strong. The model supports industry-leading franchisee unit economics, with unlevered cash-on-cash returns still exceeding 70% on roughly $500,000 of upfront investment. This is the engine that drives growth, even when same-store sales face near-term headwinds.

The brand promises an affordable, high-quality fast-casual dining experience that works well for groups and families, even as domestic average unit volumes (AUV) hit $2.1 million as of the third quarter of 2025. This AUV figure is a concrete measure of the volume this focused menu can generate at the store level. The company also maintains a commitment to consistent product quality across all system-wide restaurants, which, as of the second quarter of 2025, numbered 2,818 locations, growing to 2,932 by the end of the third quarter of 2025.

Here's a quick look at the scale and the economics driving that value:

Metric	Value (Late 2025)
System-Wide Restaurants (Q3 End)	2,932
Domestic Average Unit Volume (AUV)	$2.1 million
Unlevered Cash-on-Cash Return (Franchisee)	Exceeding 70%
Approximate Upfront Investment (Franchisee)	Roughly $500,000
Digital Sales as % of System-Wide Sales (Q3 2025)	72.8%

The value proposition is also supported by the breadth of choice within the core offering. You can see the flavor variety clearly:

• Original Hot
• Lemon Pepper
• Garlic Parmesan
• Atomic
• Cajun
• Hawaiian
• Louisiana Rub
• Mild
• Spicy Korean Q
• Hickory Smoked BBQ
• Mango Habanero
• Hot Honey Rub

The company's total revenue for the fiscal third quarter 2025 was $175.7 million, showing the scale at which these value propositions are being delivered. Finance: draft 13-week cash view by Friday.

Wingstop Inc. (WING) - Canvas Business Model: Customer Relationships

You're looking at how Wingstop Inc. keeps its customers coming back, especially when consumers are feeling the pinch. It's all about digital integration and making the experience fast and rewarding.

High-engagement digital relationship via the Wingstop Rewards loyalty program

Wingstop Inc. is actively building out its high-engagement digital relationship through the forthcoming loyalty program, Club Wingstop. While the system-wide launch is scheduled for the second quarter of 2026, the pilot program, which began in the fourth quarter of 2025, is already showing promising early results. This platform is designed to strengthen repeat visits without relying on discounting, instead offering curated access to unique content, merchandise, flavors, and experiences. The foundation for this personalization is the MyWingstop proprietary tech stack, which has gathered data from 60 million guests as of Q2 2025. The company noted that sign-up rates and guest engagement are already ahead of expectations based on these early pilot results.

Automated and personalized marketing driven by digital order data

The digital focus means customer relationships are increasingly automated and data-driven. Digital sales were a massive 72.8% of system-wide sales in the third quarter of 2025, up from 72.2% in the second quarter of 2025. This high digital penetration feeds the MyWingstop platform, which supports improved marketing Return on Investment (ROI) and increased customer frequency. The company is also actively investing in broad-reach marketing, with advertising expenses reaching $65.5 million in Q2 2025. The national advertising fund contribution rate was increased to 5.5% from 5.3%, effective the first day of fiscal 2025. This spend supports campaigns like the new "Wingstop is Here" initiative, designed to broaden the top-of-funnel awareness beyond traditional game-day occasions.

Here are some key financial metrics related to advertising and digital sales for context:

Metric	Value (Latest Reported Period)	Period
Digital Sales as % of System-Wide Sales	72.8%	Q3 2025
Advertising Expenses	$65.5 million	Q2 2025
National Advertising Fund Contribution Rate	5.5%	Effective Q1 2025
Advertising Fees Revenue Increase (YoY)	$5.3 million	Q3 2025
MyWingstop Database Size	60 million guests	Q2 2025

Low-touch, high-convenience service model focused on carryout and delivery

Wingstop Inc.'s customer relationship is heavily weighted toward convenience, driven by technology in the kitchen. The AI-powered Wingstop Smart Kitchen platform is a core part of this, aiming for consistent speed of service. This system was installed in more than 2,000 U.S. restaurants by late 2025, with plans to reach all domestic units by year-end. Where adoption is highest, such as the Southwest region, stores are achieving consistent 10-minute service times. This operational efficiency supports the brand's unit-level economics, with Domestic Restaurant Average Unit Volume (AUV) standing at $2.1 million in Q3 2025. Management maintains a long-term goal of reaching $3 million AUVs, which they link directly to improvements from the Smart Kitchen rollout and the upcoming loyalty program.

Social media and influencer-led campaigns targeting Gen Z and Millennials

The brand's digital focus naturally extends to social media and influencer engagement, which is critical for reaching younger demographics. The company's trade area median household income is reported at $69.5K, indicating a strong appeal to budget-conscious consumers, including families. The "Wingstop is Here" campaign is specifically designed to broaden the top of the funnel across various demographic lines. The high digital sales mix allows for sophisticated segmentation, as seen in past paid social strategies that segmented audiences based on factors like lifetime value to improve conversion value. Customer loyalty metrics show that repeat monthly visitors ranged between 16.8% to 18.1% in the first half of 2025.

The focus on digital channels helps build relationships with these key segments:

• Digital sales accounted for 72.8% of system-wide sales in Q3 2025.
• The brand targets a median household income of $69.5K in its trade areas.
• The company is working to close a 20%+ awareness gap compared to QSR peers via new ad spend.
• The new loyalty program will offer access to exclusive content and merchandise.

Finance: draft 13-week cash view by Friday.

Wingstop Inc. (WING) - Canvas Business Model: Channels

You're looking at how Wingstop Inc. gets its wings-and its revenue-to the customer. The physical footprint is expanding aggressively, which is the foundation for all other channels. As of June 2025, the company reported having 2,818 total franchised and company-owned restaurants. This growth continued through the third quarter, with the global store count reaching 2,932 locations by the end of Q3 2025, a testament to the brand partners' confidence in the unit economics. That's a lot of locations serving the core product.

The real story, though, is how those sales are happening. Wingstop has successfully driven a massive shift to digital ordering, which is critical for managing throughput and capturing better customer data. Here's a quick look at the channel performance across the first three quarters of 2025, showing the scale of system-wide sales and the dominance of digital:

Metric	Q1 2025 (Ended Mar 29)	Q2 2025 (Ended Jun 28)	Q3 2025 (Ended Sep 27)
System-wide Sales	$1.3 billion	$1.3 billion	$1.4 billion
Digital Sales Mix	72.0%	72.2%	72.8%
Domestic Restaurant AUV	$2.1 million	$2.1 million	$2.1 million

The direct digital channel, using the Wingstop mobile app and website, is where the brand wants you to be. This push is about owning the customer relationship. By late 2025, the company had amassed a customer database of 45 million users across these direct channels. To be fair, this strategy is supported by better economics; in late 2024, the average check size from digital orders was reported as 20% higher than other order types. You'll notice the company reserves its best deals for these owned platforms.

• Promotions like the $0 Delivery Fee Wednesdays are valid only on orders placed via Wingstop.com or the Wingstop App.
• Deals such as $0.70 Boneless Wings Mondays and Tuesdays are explicitly noted as not available on third-party marketplaces.

Third-party delivery services like DoorDash and Uber Eats remain a necessary part of the mix, especially for reaching customers who prefer those ecosystems. Wingstop relies solely on these third-party drivers to carry food out for delivery orders placed through those external apps. Still, the company is clearly incentivized to migrate those transactions to its own app, as evidenced by the exclusive offers. The channel mix shows that even with third-party reliance, the overall digital penetration is incredibly high, hovering around 72% system-wide through the first three quarters of 2025.

Takeout/Carryout is the third pillar, blending seamlessly with the digital strategy. You can place an order through the app or website and select carryout, which still benefits from the direct-channel promotions. This channel is vital for the brand's unit economics, as it avoids the variable costs associated with third-party delivery platforms. The domestic restaurant Average Unit Volume (AUV) holding steady at $2.1 million across Q1, Q2, and Q3 2025 suggests that the combination of high-volume digital orders and efficient carryout is supporting strong performance at the unit level, even when domestic same-store sales faced headwinds.

Wingstop Inc. (WING) - Canvas Business Model: Customer Segments

You're looking at the core base that drives Wingstop Inc.'s growth, which is heavily skewed toward digital engagement right now. The primary target, as the brand continuously refines its focus based on sales data, is definitely the younger crowd: millennials and Gen Z. These folks prioritize convenience and customization, which is why the digital channel is so critical. Honestly, the numbers back this up completely.

The fast-casual diner segment is looking for that specialized, high-flavor chicken product, moving beyond standard quick-service fare. This group values the hand-sauced, dry-rubbed differentiation. The rollout of the AI-fueled Smart Kitchen platform, which has cut service speed in half to about 10 minutes in the 2,000 domestic units where it's live, helps keep Wingstop Inc. in the consideration set for a broader range of customers who need speed along with flavor.

When you look at the traditional audience, you see families and groups ordering for takeout or sharing. Trade area demographic data shows that the captured market has a median household income of $69.5K and includes a much higher proportion of households with children. Still, the company noted earlier this year that softening sales were seen mostly among Hispanic and lower-income guests, though economic headwinds in Q3 2025 broadened to affect more middle-income consumers in more geographies.

For the convenience seekers, the story is all about the channel mix. Delivery and digital are the main drivers, which is why you see that 72.8% figure for digital sales as a percentage of system-wide sales for the third quarter of fiscal 2025. This massive digital penetration, nearly double some competitors, shows where the transaction volume is coming from, even as domestic same store sales declined 5.6% in that same period. The overall system-wide sales still grew 10.0% to $1.4 billion in Q3 2025, largely due to new unit expansion and this digital strength.

Here's a quick look at how the Q3 2025 performance metrics relate to these customer segments:

Metric	Value	Context
Digital Sales Percentage (Q3 2025)	72.8%	Percentage of system-wide sales
System-Wide Sales (Q3 2025)	$1.4 billion	Total system-wide sales
Domestic Same Store Sales (Q3 2025)	-5.6% decline	Performance of existing domestic stores
Net New Unit Openings (Q3 2025)	114	New store expansion
Total Locations (Q3 2025 End)	2,932 units	Overall brand footprint
Repeat Monthly Visitors (H1 2025)	16.8% to 18.1%	Customer loyalty metric

You can see the brand is leaning hard into the digital experience to capture the younger, convenience-focused diner, even while managing a challenging environment for its more budget-sensitive core base. The brand opened 114 net new restaurants in the quarter, translating to more than 19.3% net new unit growth year-over-year, showing franchisee confidence remains high in the unit economics despite the comp sales dip. Finance: draft 13-week cash view by Friday.

Wingstop Inc. (WING) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive Wingstop Inc.'s operations as of late 2025. The cost structure is heavily influenced by commodity prices, aggressive marketing to fuel unit growth, and the ongoing investment in their digital backbone.

Cost of sales remains a key variable cost, heavily impacted by bone-in chicken wing price volatility. For instance, in Q2 2025, the cost of bone-in chicken wings saw a notable 13.2% year-over-year rise. To manage this, Wingstop's supply chain strategy, which moved away from the weekly spot market for most purchases in 2024, aims to create predictability for food, beverage, and packaging costs. For company-owned restaurants in Q2 2025, the cost of sales settled at 75.2% of sales.

Marketing spend is substantial, reflecting the push for brand awareness. Advertising expenses for the second quarter of 2025 hit $65.5 million, an 11.9% year-over-year increase from $58.6 million in Q2 2024. This is supported by the national advertising fund contribution rate, which increased to 5.5% from 5.3% effective the first day of fiscal Q1 2025.

Selling, General & Administrative (SG&A) expense shows a slight revision in the full-year outlook. While initially guided to approximately $140 million for FY 2025, the updated guidance for FY 2025 places SG&A between $131 and $132 million. This expense category includes significant investment in headcount to support growth.

The securitized financing completed in December 2024 is a major factor in the interest expense line. This transaction increased outstanding debt by $500 million. The initial FY 2025 guidance for net interest expense was approximately $46 million, but the updated guidance for FY 2025 is now approximately $37.5 million. In Q2 2025 alone, interest expense, net, was $8.5 million, with $7.3 million of that directly tied to the securitized financing.

Technology investment is a clear, ongoing cost. The push for the new proprietary platform, the Wingstop Smart Kitchen, is reflected in system implementation costs. The FY 2025 guidance includes system implementation costs of approximately $4.5 million. These costs were split across quarters, with $1.5 million recorded in Q2 2025 and $2.1 million in Q3 2025.

Here's a quick look at the key financial outlook figures for FY 2025:

Expense Category	Initial FY 2025 Guidance	Updated/Latest FY 2025 Guidance
SG&A Expense	Approximately $140 million	Between $131 and $132 million
Interest Expense, Net	Approximately $46 million	Approximately $37.5 million
System Implementation Costs (Included in SG&A)	Approximately $4.5 million	Approximately $4.5 million

You should also note the specific quarterly costs related to the technology rollout:

• Q2 2025 System Implementation Costs: $1.5 million
• Q3 2025 System Implementation Costs: $2.1 million
• Total System Implementation Costs (as per guidance): Approximately $4.5 million

The company is definitely spending to build out its digital and operational future. Finance: draft 13-week cash view by Friday.

Wingstop Inc. (WING) - Canvas Business Model: Revenue Streams

You're looking at how Wingstop Inc. (WING) actually brings in the money, which is heavily weighted toward its franchise partners. The core of the revenue generation is not selling wings directly from corporate stores, but rather collecting fees from the vast majority of its locations that are franchisee-owned.

The primary, recurring income source from the franchise system involves the ongoing royalty payments. This is typically set at a rate of 6% of franchisees' gross sales. Also critical is the mandatory contribution to the National Advertising Fund, which is currently set at 5.5% of sales, effective from the first day of fiscal 2025. This is an increase from the prior rate of 5.3% in fiscal 2024.

Another key component of franchise-related revenue comes from initial setup and expansion. This includes initial franchise fees and development fees paid by brand partners when they start a new location or commit to opening multiple units. For example, the initial franchise fee is often cited at $20,000 per store, with a development fee of $10,000 per store for multi-unit agreements.

While franchising dominates, Wingstop Inc. (WING) still operates a small portion of the system directly. As of the end of the second quarter on June 28, 2025, the company had 54 company-owned restaurants in the United States. Sales from these company-owned restaurants contribute directly to the top line, and for the fiscal third quarter ending September 27, 2025, these sales increased by $1.2 million year-over-year, driven by a 3.8% growth in same-store sales for those corporate units.

The overall financial scale of these combined revenue streams is significant. Total revenue for the twelve months ending September 30, 2025, was reported at $0.683 billion. To give you a snapshot of the quarterly flow leading up to that TTM figure, total revenue for the fiscal third quarter 2025 increased to $175.7 million.

Here's a breakdown of the key financial figures associated with Wingstop Inc. (WING) revenue streams as of late 2025:

Revenue Stream Component	Rate/Amount/Count	Notes/Period
Total Revenue (TTM)	$0.683 billion	Twelve Months ending September 30, 2025
Franchise Royalty Rate	6% of gross sales	Typical ongoing fee
National Advertising Fund Contribution Rate	5.5% of gross sales	Effective Q1 2025, up from 5.3%
Initial Franchise Fee	$20,000	Per unit fee
Development Fee	$10,000 per store	For multi-unit agreements
Company-Owned Restaurant Count	54 locations	As of June 2025
Company-Owned Restaurant Count (Latest)	55 locations	As of September 27, 2025
Q3 2025 Company-Owned Restaurant Sales Growth	Increased by $1.2 million	Compared to Q3 2024
Q3 2025 Royalty Revenue, Franchise Fees, and Other Increase	Increased by $6.8 million	Compared to Q3 2024

You can see the growth in franchise fees and royalties is tied directly to unit expansion. For instance, the increase in royalty revenue, franchise fees, and other revenue in Q3 2025 was $6.8 million, with $10.6 million of that due to net new franchise development, which was partially offset by a sales decline.

The revenue streams are clearly structured to benefit from scale through the franchise model, which is why unit growth is such a focus. The company is pushing for more locations, as evidenced by the 114 net new system-wide openings in the third quarter of 2025 alone, translating to over 19% unit growth versus the prior year.

The mix of revenue sources can be seen in the quarterly results, showing the relative contribution from owned versus franchised operations:

• Royalty revenue, franchise fees and other increased $6.8 million in Q3 2025.
• Company-owned restaurant sales increased $1.2 million in Q3 2025.
• Digital sales accounted for 72.8% of system-wide sales in Q3 2025.

Finance: draft 13-week cash view by Friday.