What comes to mind when you hear the word “wings”? Is it Buffalo Wild Wings? Or perhaps Wingstop? While Wingstop has a long history, many people remain unfamiliar with its backstory, including the identity of its owners. So, settle in because it’s time to dive into the history of this beloved establishment. Instead of munching on popcorn while reading, why not enjoy some wings instead?
The Origins of Wingstop
This popular chicken fast-food brand was established 28 years ago in Garland, Texas, by Antonio Swad. Just three short years later, the franchise model was born with its first franchised outlet. By the year 2002, Wingstop proudly reported that it was serving up to 2 million wings.
Fast forward another three years, and Wingstop made the decision to start offering lunch service. In a familiar cycle, three more years passed, and in 2009, the company introduced its first-ever boneless wings.
With clear signs of success, 2010 marked Wingstop’s first international venture with a location in southern Mexico. By 2022, the restaurant operated across nine countries. For all the wing enthusiasts out there craving Wingstop, check out these locations:
- United States
- Canada
- Mexico
- United Kingdom
- France
- Spain
- Singapore
- Indonesia
- United Arab Emirates
Expansion and Accomplishments
Wingstop has proven to be a thriving franchise, serving millions of wings each year and expanding its reach across three continents. Data from restaurant statistic firms, including Nation’s Restaurant News, highlighted the chain’s impressive growth and success. By the mid-2010s, Wingstop had already secured its spot as the third fastest-growing restaurant in the United States based on revenue and expansion metrics.
Ownership of Wingstop
This remarkable growth can be attributed to Gemini Investors, who acquired the company in 2003. Seven years later, Roark Capital Group took over Wingstop. That name may ring a bell, as Roark Capital has investments in other popular brands like Arby’s, Buffalo Wild Wings, Sonic, Jimmy John’s, and Dunkin’.
The real game changer came in 2015 when Wingstop went public, with an initial public offering (IPO) priced at just $19 per share. As a result, investors saw over a 600% increase in just five years, with profits doubling. It even outperformed preferred stocks of Wall Street giants like Starbucks and Chipotle.
So, who owns Wingstop today? It remains under Roark Capital Group’s umbrella. As of 2021, Wingstop reported an annual net income of approximately $42 million, with total assets nearing $250 million.
Wingstop’s continued success can largely be attributed to its focus on digital platforms. In 2019, Wingstop marked its 25th anniversary by partnering with DoorDash for national delivery services.
Wingstop in the Present
Wingstop continues to be one of America’s leading chicken restaurant chains. But how do they maintain their popularity? The menu goes beyond just chicken wings; they also offer chicken sandwiches and chicken strips, all accompanied by a variety of sauces and dips. The chicken sandwich was launched in August 2022, available in the same dozen flavors as their wings.
The available flavors include:
- Plain
- Garlic Parmesan
- Hawaii
- Lemon Pepper
- Bayou BBQ
- Mild
- Original Hot
- Hickory Smoke BBQ
- Atomic
- Mango Habanero
- Cajun
- Lousiana Rub
While these flavors are a signature of Wingstop, the chain also occasionally introduces limited-time sauces. They even blend their sauces into new hybrids. In 2019, they hosted a 25 Days of Flavor event featuring a unique combo each day, some of which reappeared later for a limited time.
Wingstop also engages in charitable efforts, supporting youth in sports and education. Employees fund a foundation aimed at assisting team members facing financial hardships.
In June 2021, Wingstop launched a sister brand called ThighStop, which is exclusively online and specializes in chicken thighs instead of wings. They aimed to reduce costs by creating this separate restaurant.
Final Thoughts
Having been on a growth trajectory for nearly three decades, Wingstop shows no signs of slowing down. For budding entrepreneurs, particularly those interested in the food industry, Wingstop’s journey serves as an inspiring example. This restaurant is built on passion and determination, giving back not only to its customers but also through its employee foundation.
The food industry can be tough, but Wingstop carves its path, demonstrating its worth and ongoing growth through consistent action. Now that you’re aware of who owns Wingstop, it’s worth noting that the original founder, Antonio Swad, has a history in the restaurant business, having started as a teenage dishwasher. This experience fueled his establishment of not just Wingstop but also Pizza Patron, a Latin-inspired pizza chain.
Next time you savor Wingstop, consider the hard work that went into every delicious bite.
