Ryan is an attorney and valuation specialist residing in Chicago. He chronicles his thoughts and research on FranchisePundit.com. You may reach him by email ryanknoll@gmail.com or mobile telephone 312-212-3423.
Sports Bars’ Customers Love Their Hometown Teams, Drive Profits Up
[Buffalo Wild Wings] Same-store sales since the start of 2006 have jumped from 8% to 13% quarterly. For five straight quarters, profits have grown in double digits.…
But rather than “worry if we are going to comp over last year,” the company “needs to make sure we’re executing and operating and giving our guests great value and experience,” she said.
Buffalo, N.Y.-style chicken wings are a big part of the guest experience. Though wing prices have risen, Smith locked in prices through the year that are now below market rate. She’s keeping an eye on other costs as well.
Buffalo also serves salads, burgers and a variety of specialty items.
As a neighborhood sports bar, it serves as a gathering place for friends and family. Guests play trivia games and watch sports and other shows on big-screen TVs. HD screens are replacing many of them.
Professional and college football and basketball playoffs are big draws, especially in the company’s core Midwest markets. Ohio stores make up about 20% of the store count.
“In Ohio, people are fanatics about their local teams,” Lyon said.
I’ve posted previously on the sustainability of chicken wing franchises – most everyone loves good wings, and matched with a large modern sports bar it makes for a solid business with an excellent chance of success, in my opinion.
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Buffalo Wild Wings sets the standard in this area. They have found the right concept formula of restaurant size, entertainment/sports, menu items, taste, and atmosphere. There will be Buffalo Wild Wings copy-cats, and many other low-grade imitations will fail in competition to the copy-cats.