COMPANY PROFILE -Wingstop Inc.
Business Sector :Casual Restaurant Chain
Operating Geography :United States, North America, Global
About Wingstop Inc. :
Wingstop Inc. is an American restaurant franchise that specialises in chicken wings and has a nostalgic aircraft theme. The headquarters of the chain are in Addison, Texas. Wingstop venues are decorated in the style of pre-jet aviation in the 1930s and 1940s. The restaurant brand was formed in 1994 in Garland, Texas, and began marketing franchises in 1997. Since then, Wingstop has developed into a franchise with over 1,400 locations open or under construction. Wings, boneless wings, and chicken tenders are on the menu, along with a selection of dips and sides. Hawaiian, Garlic Parmesan, Lemon Pepper, Mild, Original Hot, Hickory Smoked BBQ, Atomic, Mango Habanero, Cajun, Louisiana Rub, and Spicy Korean Q are among the flavours available in the United States. Wingstop has locations in the US, the UK, Australia, Saudi Arabia, Indonesia, Malaysia, Mexico, Panama, Russia, Singapore, Colombia, and the United Arab Emirates. By doubling its commitment from 60 to 120 restaurants by 2028, Wingstop Inc. announced an expanded development agreement in Indonesia with its current brand partner in April 2022. This new agreement demonstrates Wingstop's established portability around the world and is anticipated to quicken the pace of the company's market entry.
Wingstop's USP is that it's one of the country's fastest-growing businesses with a wide geographical presence -more than 660 restaurants across the United States. The mission statement of Wingstop reads, "To Serve the World Flavor. We're in the flavour business. It's been our mission to serve the world flavour since we first opened shop in '94, and we're just getting started. 1997 saw the opening of our first franchised Wingstop location, and by 2002 we had served the world one billion wings".
Wingstop Inc. Revenue :
US$ 282.5 million – FY ending 25th December 2021 (y-o-y growth 13.7%)
US$ 248.8 million – FY ending 26th December 2020 (y-o-y growth 25%)
US$ 199.7 million – FY ending 28th December 2019
Competitive Analysis of Wingstop Inc.
The SWOT analysis for Wingstop Inc. is presented below in a matrix followed by a detailed analysis:
| Strengths | Weaknesses |
1. Distinctive flavor and quality of food
2. Simple business model powered by high-tech innovations
3. Operational simplicity of restaurants resulting in attractive unit economics
4. Highly franchised model enabling strong medium and long-term growth
5. Highly streamlined operations facilitated by advanced digital capabilities | 1. Debt levels of the company increasing every year
2. High valuation of company in comparison to growth rate
|
| Opportunities | Threats |
1. Growth opportunities in ghost kitchens accelerated by pandemic
2. Free local bodies during covid allow hassle-free new store openings
3. High growth opportunities in international expansion
| 1. Covid pandemic resulting in temporary restaurant closures
2. High susceptibility to volatility in food costs
3. Food safety and food-borne illness risks detrimental to brand image
|
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Detailed SWOT Analysis of Wingstop Inc.
Strength
1. Distinctive flavor and quality of food: According to Wingstop it is not in the business of chicken wings, but in the business of flavor. Critics of food are impressed by how the company’s flavors and quality of food exceeds their expectations. The company’s variety of flavors and vehicles along with wings attracts its core customers repeatedly. It has created a niche for itself by focusing on a single niche and creating unbeatable expertise in it. In an industry where every fast-food corporation is trying to attract millennials because they are the largest demography today, this is a risk that the company has taken and succeeded very well. The company has more than 10 traditional flavors in its wings segment alone, increasing the satisfaction from the experience of Wingstop for its consumers. Wingstop is aware that its customers regard 4/20 as a sacred holiday and that its wings are the ultimate munchies. So, to honour their cannabis-loving customers on the chillest day of the year, the wing joint is releasing a limited-edition flavour called Blazed & Glazed, which will be served nationwide beginning on April 18 2022.
2. Simple business model powered by high-tech innovation: Though Wingstop admits that the company’s business model is not particularly difficult to replicate, but by implementing it using innovative technology the company has become the most accessible player in its category. Company CEO Charlie Morrison concedes that the company’s strategy depends a lot on the efficiency and access provided by state-of-the-art online ordering solutions. The company’s technical investments have proved their worth especially during the pandemic. While other companies have shrank by both top and bottom lines, Wingstop demonstrated over 25% growth in same store sales in fiscal 2021.
The remaining section under "Strength" is available only in the 'Complete Report' on purchase.
Weakness
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Opportunity
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Threat
This section is available only in the 'Complete Report' on purchase.
The PESTLE analysis for Wingstop Inc. is presented below in a matrix followed by a detailed analysis:
| Political | Economical |
| 1. Easier lockdown restrictions mitigated impact on business | 1. Increased price of chicken due to multiple reasons to impact profits
2. Convenience in delivery increasing competition in wing market
|
| Social | Technological |
1. Online ordering increase due to pandemic improved digital mix
2. Consumers moving away from meat-based products
| 1. Using NLP to automate digitization of voice orders
2. Digital and delivery transactions more profitable than traditional channels
|
| Legal | Environmental |
1. Compliance to Food Safety Modernization Act mandatory for smooth business
2. Changing privacy related regulations limiting data collection and analysis techniques
| 1. Extreme winter weather conditions resulting in shortage of chicken wings |
Wingstop Inc. SWOT and PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
Detailed Pestle Analysis of Wingstop Inc.
Political
This section is available only in the 'Complete Report' on purchase.
Economic
This section is available only in the 'Complete Report' on purchase.
Social
This section is available only in the 'Complete Report' on purchase.
Technological
This section is available only in the 'Complete Report' on purchase.
Legal
This section is available only in the 'Complete Report' on purchase.
Environmental
1. Extreme winter weather conditions resulting in shortage of chicken wings: The southern part of the United States suffered extreme volatilities in weather conditions, facing record lows in reduction of temperature during the Texas freeze and energy blackout. The National Chicken Council has identified this sudden climate change as the prime reason for the supply shock in the chicken market. As a natural consequence, the supply of chicken wings has also come down in the country. Further, to solve this problem, chicken production is being ramped up which will lead to worsening effects on the climate change frontier. If this cycle continues, the volatility in supply of chicken could worsen, impacting Wingstop’s business heavily.
The remaining section under "Environmental" is available only in the 'Complete Report' on purchase.
Wingstop Inc. SWOT and PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
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| Wingstop Inc. Porter's Five Forces Analysis |
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| Wingstop Inc. Covid-19 Impact Analysis |
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| Wingstop Inc. BCG Analysis |
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| Wingstop Inc. Segmentation, Targeting and Positioning (STP) Analysis |
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| Wingstop Inc. Ansoff Matrix Analysis |
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Check Out Analysis of Other Relevant Companies
References used in Wingstop Inc. SWOT & PESTLE Analysis Report
1. Annual Report - https://s23.q4cdn.com/286598533/files/doc_financials/2021/ar/2021_Annual_Report.pdf
2. How Wingstop Became a 'Category of One' - https://www.qsrmagazine.com/restaurant-operations/how-wingstop-became-category-one
3. 3 Reasons to Be Wary of Wingstop - https://www.fool.com/investing/2020/01/26/3-reasons-to-be-wary-of-wingstop.aspx
4. More US states begin lifting virus lockdown orders - https://www.bbc.com/news/world-us-canada-52435648
The detailed complete set of references are available on request in the 'Complete report' on purchase.
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Wingstop Inc. SWOT and PESTLE analysis has been conducted by Divyansh Kharadkar and reviewed by senior analysts from Barakaat Consulting.
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