Week 10: Wing It On! & PetWellClinic
Chicken like a champ + the minute clinic for dogs & cats
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To franchise owners,
Happy Monday! Today’s edition highlights Wing It On! and PetWellClinic.
Wing It On! is a fast-casual chicken concept that offers a simple menu, easy to use digital/mobile experience, and a ton of focus on hospitality. Takeout and delivery drive between 85-90% of store revenues (on average), with each meal containing fresh (never-frozen) all natural chicken wings free of hormones and steroids.
PetWellClinic is a vet clinic for dogs and cats with an innovative walk-in model. As pet ownership continues to increase nationwide, PetWellClinic strives to be a convenient option for pet owners who don’t want to set appointments, and instead can walk-in at their convenience to have their dog or cat treated for minor illnesses and ailments. Note: franchise owners do have to hire a veterinarian for this franchise.
On to the breakdowns👇
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Wing It On!
Fast Facts
Background
Founded in 2011; franchising since 2014
9 units open as of 2021; dozens more in development
Locations can range from 1,000 square ft. up to 1,700 square ft.
Fees + Investment
Royalty: 4.5% of gross sales
Brand Fund: 2% of gross sales
Franchise Fee: $29,500
Initial Investment: $214,451 - $392,229
Financial Performance
The following table illustrates gross revenue of the three locations that were open for the full calendar year 2019
The Wolf’s Take 🍟
With minimal data it’s tough to take too much away from the performance numbers. The pro’s in my mind are that up to 90% of revenue is from takeout/delivery, and the franchise growth they’ve experienced this year has been impressive (see press releases below). There’s certainly still questions, but any early franchise that has territories being gobbled up is worth looking into further.
Recent Press
PetWellClinic
Fast Facts
Background
Founded in 2012, franchising since 2019
6 units as of 2021, 50+ units in development
Locations are 800-1,200 square feet
Fees + Investment
Royalty: 7% of gross sales
Brand Fund: Currently 0%, can be up to 2% of gross sales
Franchise Fee: $49,250
Initial Investment: $144,200 - $253,500
Financial Performance
The below table presents profit and loss statements from three affiliate owned clinics that were opened for more than 1 year as of the end of 2019
The Wolf’s Take 🍟
The disparity in the performance of locations is likely very correlated to the fact that West Hills was the only location open a full seven days a week (while Midland for instance was open just 1 day/week at times in 2019). Given this, the West Hills performance is very impressive, even after factoring in a vet’s salary. Just like Wing It On!, PetWellClinic has sold some large territories to multi-unit operators and appears to already be benefiting from the tailwinds the pet industry is currently experiencing.
Recent Press
That’s it for this week’s Franchise Breakdowns. Feel free to reply with any questions or feedback, or leave a comment. If someone sent this your way and you haven’t subscribed yet, you can also do that below. Thanks and see you next week!
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