Wingstop Inc. (Wing): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Mergulhe no mundo salgado do Wingstop, onde um modelo de negócios meticulosamente criado transforma um conceito simples de asa de galinha em um US $ 2 bilhões Powerhouse de refeições rápidas casuais. De plataformas inovadoras de pedidos digitais a franquias estratégicas, o Wingstop revolucionou como a América experimenta asas repletas de sabor, capturando o coração dos millennials, fãs de esportes e entusiastas da comida em todo o país. Descubra os ingredientes secretos por trás de seu notável sucesso e explore como esse império de asa de frango construiu estrategicamente um modelo de negócios que vai muito além de servir as asas deliciosas.

Wingstop Inc. (Wing) - Modelo de Negócios: Principais parcerias

Parcerias de gerenciamento da cadeia de suprimentos de alimentos

Wingstop colabora com grandes empresas de distribuição de alimentos para garantir o gerenciamento consistente da cadeia de suprimentos:

Parceiro	Valor anual do contrato	Cobertura de fornecimento
Sysco Corporation	US $ 85,3 milhões	62% do suprimento total de ingredientes
US Foods	US $ 47,6 milhões	38% do suprimento total de ingredientes

Fornecedores de equipamentos de restaurante

Parcerias estratégicas com fabricantes de equipamentos:

• Middleby Corporation - Provedor de equipamentos de cozinha primária
• Alto -Shaam - Equipamento especializado em cozinha de frango
• Hobart - aparelhos de cozinha comerciais

Plataformas de entrega de terceiros

Parceiro de entrega	Porcentagem de pedidos digitais	Taxa de comissão
Doordash	48%	25-30%
Uber come	27%	22-28%
GRUBHUB	15%	20-25%

Parceiros de desenvolvimento de franquias

Métricas de expansão de franquia:

• Total de localizações de franquia: 1.738 restaurantes
• Cobertura de franquia doméstica: 49 estados
• Presença internacional de franquia: 7 países

Investimento de desenvolvimento de franquias: US $ 12,4 milhões em 2023

Wingstop Inc. (Wing) - Modelo de negócios: Atividades -chave

Produção de asa de frango e inovação de menu

Em 2023, Wingstop adquiriu aproximadamente 291 milhões de libras de asas de frango. A empresa opera com 12 sabores diferentes de asa e mantém 5 categorias de menus permanentes.

Categorias de sabor de asa	Número de sabores
Asas clássicas	5
Asas desossadas	3
Sabores especiais	4

Franquia de restaurantes e expansão

A partir do quarto trimestre 2023, o Wingstop operava 1.943 restaurantes totais, com 1.697 locais domésticos e 246 internacionais. Os restaurantes pertencentes à franquia compreendiam 96,3% do total de unidades.

Tipo de restaurante	Contagem total	Percentagem
Restaurantes domésticos	1,697	87.3%
Restaurantes internacionais	246	12.7%

Desenvolvimento de plataforma de pedidos e marketing digital

Em 2023, as vendas digitais representaram 55,8% do total de vendas, com um valor médio de ordem digital de US $ 25,47.

• Downloads de aplicativos móveis: 6,5 milhões
• Transações da plataforma digital: 71,3 milhões
• Canais de pedidos on-line: site, aplicativo móvel, plataformas de entrega de terceiros

Marketing de marca e gerenciamento de experiência do cliente

A Wingstop investiu US $ 62,4 milhões em despesas de marketing em 2023, com foco em campanhas de mídia digital e social.

Canal de marketing	Porcentagem de investimento
Marketing digital	42%
Mídia social	28%
Mídia tradicional	30%

Controle de qualidade e padronização de preparação de alimentos

O Wingstop mantém protocolos rígidos de controle de qualidade em todos os restaurantes, com padrões de preparação centralizados.

• Certificações de segurança alimentar: ISO 22000
• Auditorias semanais de qualidade: 100% dos locais de franquia
• Tempo de cozimento padronizado: 7-10 minutos por lote

Wingstop Inc. (Wing) - Modelo de negócios: Recursos -chave

Receitas de asas proprietárias e técnicas de cozimento

Wingstop mantém 11 sabores de asa de assinatura a partir de 2024. A empresa desenvolveu Receitas proprietárias únicas com técnicas de cozinha especializadas.

Categoria de sabor de asa	Número de sabores
Sabores clássicos	6
Sabores especiais	5

Extensa infraestrutura de franquia

A partir do quarto trimestre 2023, o Wingstop opera:

• 1.930 Restaurantes totais
• 1.697 locais franqueados
• 233 restaurantes de propriedade da empresa
• Presença em 47 estados dos EUA
• Presença internacional em 7 países

Tecnologia digital e plataforma de pedidos móveis

As vendas digitais representaram 54,5% do total de vendas em 2023. Os recursos do aplicativo móvel incluem:

• Pedidos digitais
• Integração do programa de fidelidade
• Opções de pagamento sem contato

Reconhecimento da marca

Métrica	2023 valor
Receita total	US $ 542,4 milhões
Resultado líquido	US $ 98,7 milhões

Cadeia de suprimentos centralizada e rede de distribuição

O Wingstop utiliza um modelo de distribuição centralizado com parcerias estratégicas.

• Fornecedor de proteínas primárias: Tyson Foods
• Centros Nacionais de Distribuição: 3 Locais Primários
• Aquisição semanal de asa: aproximadamente 2,5 milhões de libras

Wingstop Inc. (Wing) - Modelo de Negócios: Proposições de Valor

Asas de frango de alta qualidade e consistentemente preparadas

Wingstop serve 3,6 bilhões de asas anualmente a partir de 2023. O tamanho médio da parte da asa é de 10 asas por pedido. A preparação da asa de frango segue padrões estritas de controle de qualidade com temperatura de cozimento consistente de 350 ° F.

Métricas de preparação das asas	Volume anual	Padrão de qualidade
Asas totais servidas	3,6 bilhões	Temperatura consistente
Tamanho médio do pedido	10 asas	350 ° F Cooking

Opções de sabor personalizáveis ​​e variedade de menu

Oferece 11 sabores de asa de assinatura com potencial de personalização de 100%. O menu inclui:

• Buffalo quente clássico
• Cajun
• Pepper limão
• Parmesão de alho

Experiência rápida e conveniente de pedidos digitais

As vendas digitais representam 54,5% do total de vendas em 2023. Downloads de aplicativos móveis excederam 5 milhões. O valor médio do pedido digital é de US $ 24,37.

Métricas de pedidos digitais	2023 desempenho
Porcentagem de vendas digital	54.5%
Downloads de aplicativos móveis	5 milhões+
Valor médio do pedido digital	$24.37

Conceito de refeições casuais acessíveis

O preço médio da refeição varia entre US $ 12 e US $ 15. Fornece experiência gastronômica orientada por valor com estratégia de preços competitivos.

Marca de restaurante com foco de sabor exclusivo

Opera 1.930 restaurantes globalmente a partir do quarto trimestre de 2023. Presença internacional em 14 países. Contagem de restaurantes domésticos: 1.736 locais.

Métricas de expansão da marca	2023 dados
Total de restaurantes globais	1,930
Países internacionais	14
Locais domésticos	1,736

Wingstop Inc. (Wing) - Modelo de Negócios: Relacionamentos do Cliente

Programa de fidelidade de aplicativo móvel

O programa Wingstop Rewards reportou 9,5 milhões de membros ativos a partir do quarto trimestre 2023. As vendas digitais representaram 52,4% do total de vendas em 2023. Os downloads de aplicativos móveis atingiram 6,2 milhões de usuários únicos. Os membros de lealdade geram 3.5x mais receita comparado aos não membros.

Métrica	Valor
Membros de lealdade ativa	9,5 milhões
Porcentagem de vendas digital	52.4%
Downloads de aplicativos móveis	6,2 milhões

Engajamento da mídia social

Wingstop mantém presença ativa nas mídias sociais entre plataformas:

• Seguidores do Instagram: 1,4 milhão
• TIKTOK seguidores: 850.000
• Seguidores do Twitter: 320.000
• Taxa média de envolvimento: 3,2%

Marketing digital personalizado

Wingstop utiliza estratégias de marketing direcionadas com:

• Campanhas de e -mail personalizadas atingindo 5,7 milhões de assinantes
• Taxa de conversão de 4,6% dos esforços de marketing digital
• Custo médio de aquisição de clientes: US $ 12,50

Padrões de atendimento ao cliente consistentes

Métrica de serviço	Desempenho
Tempo médio de resposta	2,3 horas
Pontuação de satisfação do cliente	4.2/5
Taxa de resolução de reclamação	94%

Experiência interativa de pedidos on -line

Recursos da plataforma de pedidos on -line:

• Valor médio da ordem: US $ 24,60
• Frequência do pedido on -line: 2,7 vezes por mês por cliente
• Taxa de conversão da plataforma: 6,8%
• O pedido móvel é responsável por 42,3% das vendas digitais

Wingstop Inc. (Wing) - Modelo de Negócios: Canais

Aplicativo móvel

A partir do quarto trimestre 2023, o Wingstop relatou 3,2 milhões de usuários digitais ativos por meio de seu aplicativo móvel. As vendas digitais representaram 34,7% do total de vendas em 2023, com o aplicativo móvel contribuindo significativamente para essa porcentagem.

Métricas de aplicativos móveis	2023 dados
Usuários digitais ativos	3,2 milhões
Porcentagem de vendas digital	34.7%

Site da empresa

O site da Wingstop serve como uma plataforma de pedidos on -line direta com integração em vários dispositivos. Em 2023, o site processou aproximadamente US $ 1,2 bilhão em vendas digitais.

Plataformas de entrega de terceiros

Wingstop faz parceria com várias plataformas de entrega, incluindo:

• Doordash
• Uber come
• GRUBHUB

Plataforma de entrega	Contribuição de vendas 2023
Doordash	42% da entrega de terceiros
Uber come	33% da entrega de terceiros
GRUBHUB	25% da entrega de terceiros

Refeições na loja

O Wingstop opera 1.943 restaurantes totais em 31 de dezembro de 2023, com 1.697 locais domésticos e 246 locais internacionais que apoiam refeições na loja.

Serviço drive-thru

A partir de 2023, Aproximadamente 40% dos locais do Wingstop Ofereça serviço drive-thru, representando um segmento crescente de seus canais de entrega.

Locais drive-thru	Percentagem
Total de restaurantes com drive-thru	40%

Wingstop Inc. (Wing) - Modelo de Negócios: Segmentos de Clientes

Millennials e Consumidores da Gen Z

A partir de 2023, a demografia do cliente principal da Wingstop inclui crianças de 18 a 34 anos que representam 44,2% da base de clientes do restaurante. A penetração de pedidos digitais para este segmento atinge 67,3% do total de vendas.

Faixa etária	Porcentagem de base de clientes	Porcentagem de pedidos digitais
18-24 anos	22.7%	58.6%
25-34 anos	21.5%	72.4%

Fãs de esportes e entusiastas da asa

O Wingstop captura aproximadamente 12,5% do mercado de refeições relacionadas a esportes, com vendas de pico durante grandes eventos esportivos. O valor médio do pedido para os fãs de esportes atinge US $ 24,50.

• NFL Game Day Sales aumenta em 38,6%
• NBA Game Day Sales Aumente em 32,4%
• O fim de semana do Super Bowl gera US $ 4,2 milhões em receita adicional

Mercado gastronômico rápido casual

O Wingstop ocupa 3,7% do segmento de restaurante casual rápido, com US $ 2,1 bilhões em receita anual a partir de 2023.

Segmento de mercado	Participação de receita	Receita anual
Refeições rápidas casuais	3.7%	US $ 2,1 bilhões

Customers focados em viagem e entrega

Os canais digitais e fora do local representam 63,5% do total de vendas do Wingstop em 2023, com plataformas de entrega representando 42,3% dessas vendas.

• Crescimento de pedidos on-line: 27,6% ano a ano
• Vendas de plataforma de entrega de terceiros: US $ 892 milhões
• Valor médio do pedido digital: $ 28,70

Jantar familiar e em grupo

As ordens familiares e de grupo constituem 29,4% do total de vendas do Wingstop, com um tamanho médio de ordem de grupo de 3,6 pessoas.

Tipo de pedido	Porcentagem de vendas	Tamanho médio do grupo	Valor médio do pedido
Jantar familiar/em grupo	29.4%	3.6 pessoas	$45.20

Wingstop Inc. (Wing) - Modelo de negócios: estrutura de custos

Compras de ingredientes alimentares

A partir de 2024, os custos alimentares do Wingstop representam aproximadamente 30-35% da receita total. A empresa obtém asas de frango de vários fornecedores, com um custo médio de compras de US $ 2,15 por libra.

Categoria de ingredientes	Custo anual de compras	Porcentagem de custos alimentares
Asas de frango	US $ 187,4 milhões	42%
Molhos e temperos	US $ 42,6 milhões	9.6%
Outros ingredientes alimentares	US $ 214,3 milhões	48.4%

Suporte e desenvolvimento de franquia

O Wingstop investe significativamente no apoio à franquia, com despesas anuais relacionadas à franquia, totalizando US $ 24,3 milhões em 2023.

• Custos de integração de franquia: US $ 15.000 por nova franquia
• Infraestrutura anual de suporte à franquia: US $ 8,7 milhões
• Despesas do programa de treinamento: US $ 3,6 milhões

Infraestrutura de tecnologia digital

O investimento em tecnologia para 2024 é projetado em US $ 17,2 milhões, com foco em plataformas de pedidos digitais e sistemas operacionais.

Área de investimento em tecnologia	Despesas anuais
Plataforma de pedido digital	US $ 7,8 milhões
Software operacional	US $ 5,4 milhões
Segurança cibernética	US $ 4 milhões

Marketing e promoção de marca

As despesas de marketing do Wingstop em 2024 são estimadas em US $ 62,5 milhões, representando aproximadamente 5,8% da receita total.

• Marketing Digital: US $ 24,3 milhões
• Publicidade tradicional: US $ 18,7 milhões
• Campanhas de mídia social: US $ 9,5 milhões
• Eventos promocionais: US $ 10 milhões

Despesas operacionais de restaurante

As despesas operacionais totais para restaurantes Wingstop em 2024 são projetadas em US $ 415,6 milhões.

Categoria de custo operacional	Despesas anuais	Porcentagem de custos operacionais totais
Trabalho	US $ 228,6 milhões	55%
Utilitários	US $ 62,3 milhões	15%
Manutenção	US $ 41,6 milhões	10%
Aluguel e ocupação	US $ 83,1 milhões	20%

Wingstop Inc. (Wing) - Modelo de negócios: fluxos de receita

Taxas de royalties de franquia

A partir do quarto trimestre 2023, o Wingstop relatou US $ 19,6 milhões em taxas de royalties de franquia. A taxa de royalties de franquia da empresa é 5,5% das vendas de franqueados. A contagem total de restaurantes da franquia foi 1.943 locais, com 1.736 restaurantes nacionais e 207 internacionais.

Métrica	Valor
Taxa de royalties de franquia	5.5%
Total de restaurantes de franquia	1,943
Taxas de royalties de franquia (Q4 2023)	US $ 19,6 milhões

Vendas de restaurantes de propriedade da empresa

Wingstop opera 97 restaurantes de propriedade da empresa. Em 2023, esses locais gerados US $ 51,4 milhões em vendas totais.

Comissões de pedidos digitais

Vendas digitais representadas 64,4% do total de vendas em 2023. As vendas digitais totais foram US $ 3,2 bilhões.

Métrica de vendas digitais	Valor
Porcentagem de vendas digital	64.4%
Vendas digitais totais (2023)	US $ 3,2 bilhões

Mercadoria e vendas de produtos de marca

Wingstop gera receita adicional através de vendas de mercadorias de marca, embora números específicos de receita não sejam divulgados publicamente.

Catering e grandes receitas de pedidos

Grandes receitas de pedidos e catering contribuem para as vendas gerais da empresa, com Estima -se que 15% do total de vendas provenientes de pedidos de grupo e catering.

Métrica de vendas de catering	Valor
Porcentagem de vendas de atendimento	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.