Wingstop hits 3,000th restaurant milestone

Wingstop is barreling toward its goal of becoming a top 10 global restaurant brand with more than 10,000 restaurants worldwide, today announcing the opening of its milestone 3,000^th location. 

The company said it is growing at a record pace, opening nearly 800 restaurants and expanding its global footprint by 50% in the past two years. During its most recent quarter, Wingstop opened 114 restaurants. 

Wingstop has also recently entered six new markets, including Australia, Bahrain, Kuwait, Puerto Rico, Saudi Arabia, and The Netherlands, giving it a presence in 47 U.S. states and 15 countries. The chain is expecting to enter Thailand, Italy, and Ireland soon as well. 

"With a record pipeline of sold restaurant commitments, Wingstop shows no sign of slowing down," president and chief executive officer Michael Skipworth said in a statement. "We've scaled from 2,000 to 3,000 restaurants in just over two years, with proven runway in our domestic and international businesses. This milestone demonstrates the strength of our brand, the whitespace ahead, and the global craving for Wingstop's bold flavor."

During Wingstop’s third quarter earnings call in early November, Skipworth said the company is opening more than one restaurant a day. 

“In our most recent quarter, over 70 unique brand partners opened a Wingstop in over 100 different markets across the U.S., which really showcases the breadth and depth of demand for unit growth across our brand partners,” he said. 

Related:CAVA launches holiday-themed loyalty campaign

Domestically, average unit volumes have grown to $2.1 million, with unlevered cash-on-cash returns of 70%-plus on an average upfront investment of $500,000. 

“That’s why our brand partners continue to lean in, which showcases the attractiveness of our unit economic model,” chief financial officer Alex Kaleida said during the earnings call. 

Contact Alicia Kelso at [email protected] 

Follow her on TikTok: @aliciakelso