buffalo wings business plan

How to Start a Buffalo Wing Restaurant

Fried and coated in sauce, Buffalo wings can make a tasty snack, party or anytime food. Since many people enjoy them and preparation is relatively simple, they are a common choice for new or aspiring restaurant owners. Success with a new Buffalo wing restaurant requires significant planning and hard work, however.

Market Research

Before you plan a Buffalo wing restaurant, conduct market research to determine its potential profitability and your operating costs, says Square. You can learn about restaurant industry trends from food industry associations and publications. Then, you can obtain demographic data from the local chamber of commerce and use that to evaluate your target market.

The local chamber of commerce and area phone directories may prove helpful for identifying your competition in the area, after which you can conduct research to evaluate its profitability and weaknesses. In addition, you can enlist the help of a market research firm in determining how many members of the community are interested in a Buffalo wing restaurant and how often they would patronize one.

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How to start a barbeque business, how to start a chicken and waffles restaurant, owning a hot dog cart, how to set up a deli, how to start a seafood business, type of restaurant.

Determine whether you want to start a takeout or dine-in restaurant, as well as what concept you will tailor your restaurant based on, says Webstaurant Store. This is the creative and logistical start for your chicken wing restaurant ideas. Takeout restaurants often require less startup cash, as you don't need as much space for customers or as many tables and chairs.

If the area where you want to open the business has a need for a sit-down restaurant, however, a dine-in eatery may prove a viable option. Depending on your budget and the demand in your area, you might even consider starting a Buffalo wing truck. This option allows you to park your truck and operate your business where you can cater to a hungry lunch or dinner crowd. You could also look for chicken wing restaurants for sale that are already successful.

Business Plan

A business plan can help you stay on track as you start and run your Buffalo wing restaurant. It can also prove important in obtaining funding. Since the startup costs for restaurants are often high, you may need a well-crafted business plan to help secure a loan or interest investors.

Your plan should include a summary of your business goals, projected startup costs, mission statement, and goals and objectives. For example, you may have the goal of becoming the area's No. 1 family restaurant or providing the highest-quality Buffalo wing delivery service in the community. Also, include your plan of operation, sample menus and an analysis of the location you want. Keep your business plan files protected and with several copies labelled for easy access, such as "chicken wing business plan pdf".

Location Is Key

Choose a location in which you can expect a high volume of foot and automobile traffic. A commercial property that has its own parking lot can prove ideal as well. You will also need a location with a large enough kitchen for the volume of business you plan. A large counter space with room enough for a cash register can be important for a takeout restaurant while you will need more floor space if customers will dine in. If you will run a mobile Buffalo wing restaurant, choose a busy business district or an urban college campus to ensure an abundance of customers.

Restaurant Equipment

You will need a range of equipment to start a Buffalo wing restaurant. For example, you will need fryers, sauce pans, bowls of various sizes, a refrigerator and freezer, and sinks. Likewise, you will also have to obtain a food scale and various preparation utensils, including strainers, large spoons, knives and tongs. In addition, you may need a large supply of disposable gloves, aprons and hairnets for the food preparation staff.

Supplies for Customers

You will need a range of supplies for serving your customers. A dine-in restaurant will need tablecloths, napkins, plates, glasses, cups and silverware, for example. If you will operate a takeout restaurant, however, you will typically need bags, disposable napkins and paper towels, takeout containers in different sizes, and small containers for providing extra Buffalo wing sauce and blue cheese. Regardless of whether your customers will dine in or take their food home, you will also need menus that include prices and descriptions of your selection of Buffalo wings, side dishes and drinks.

Sauce Recipes

Success in the Buffalo wing business depends, in part, on having tasty sauce recipes. Start with at least three or four sauces to give your customers options and then add more as desired. At minimum, you will need a basic Buffalo wing sauce, a mild sauce and one that is very spicy. You might also obtain a recipe for blue cheese dressing to serve along with the Buffalo wings. If you do not want to make your own sauces and dressings, you can buy them in bulk.

Hiring Staff

You will need people to prep and cook the food and individuals to serve customers and collect payment. If you will run a dine-in restaurant, you may need a host or hostess as well. Adding delivery service to your business can boost sales, so you might hire a couple of delivery people. In addition, you can hire people to clean the restaurant, wash dishes and clean off tables. If you will not manage the business yourself, you will need an experienced restaurant manager as well.

Permits and Licenses

Each state has its own laws for restaurant licensing and permits. In most jurisdictions, however, you will need a business license and a food service permit to start and run a Buffalo wing restaurant. You can obtain contact information for business license applications from your local chamber of commerce or by visiting your secretary of state's website. Then, you can contact your local department of health for information about obtaining a food service permit.

Restaurant Insurance

Restaurant owners need a range of insurance policies to operate and protect themselves from lawsuits. You will likely need property insurance, which covers you in case of damage to your property, and liability insurance, in case someone gets hurt in your restaurant or becomes ill after eating your food. If you will provide delivery service, you will need business automobile insurance.

Most states also require workers' compensation and unemployment insurance if you will have employees. Coverage for loss of business and liquor liability can prove important as well. If you take out a loan to start your restaurant, you may even need life insurance. Your lender may require this to ensure that your family can repay your loan in the event of your death.

• Square: How to Start a Restaurant
• Webstaurant Store: How to Open a Restaurant
• RestaurantOwner.com: How to Create a Winning Restaurant Business Plan

Start a Buffalo Wings Restaurant: Your Ultimate Guide

Have you ever wanted to start your own business? A Chicken Wings restaurant is the perfect opportunity to do just that. This guide will provide you with all the information you need to get started, from finding the right location to choosing the best menu items. With a little hard work and dedication, you can soon be serving up delicious wings to satisfied customers! So what are you waiting for? Let’s get started!

Table of Contents

What is a wings restaurant, how do i find customers for my chicken wings restaurant business.

The chicken wings restaurant industry is a rapidly growing segment of the food industry, with wings restaurants popping up all over the country. But what sets a wings restaurant apart from your local bar and grill?

Firstly, wings restaurants focus primarily on buffalo wings – they often offer dozens of different flavors and varieties, along with traditional sides like french fries and celery sticks.

Secondly, wings restaurants often have a hip, trendy atmosphere, catering to a younger crowd looking for a fun dining experience.

Many wings restaurants are startups, run by entrepreneurs looking to capitalize on the wings craze. Overall, wings restaurants offer diners the unique experience of trying out a variety of flavorful wings in a trendy setting.

Why would I want to start a Wings Restaurant?

It’s no secret that people love chicken wings. In fact, they’re one of the most popular snacks in the United States. According to the National Chicken Council, Americans ate 1.23 billion chicken wings during Super Bowl Sunday in 2020. That’s a lot of wings!

So, what does this have to do with starting a business? Well, if you’re looking to start a restaurant, you might want to consider specializing in chicken wings. Here are a few reasons why starting a wings restaurant can be a great business move.

There’s a Growing Market for Wings

As mentioned above, chicken wings are more popular than ever. This is good news for anyone considering starting a wings restaurant because it means there’s a growing market for your product. And as the demand for chicken wings increases, so too will the prices that customers are willing to pay. In other words, now is a great time to get into the chicken wing business!

Wings are Versatile

Another reason why starting a wings restaurant can be a great idea is because chicken wings are incredibly versatile. There are endless possibilities when it comes to flavors and preparations, which means you can always come up with new and exciting dishes to keep your customers coming back for more. Whether you like to keep things simple with classic buffalo sauce or you like to get experimental with unique flavor combinations, there’s a preparation out there for everyone!

Wings are Affordable

Another advantage of specializing in chicken wings is that they’re relatively affordable compared to other menu items. This is important because it allows you to keep your prices low without sacrificing quality or quantity. Additionally, it means you’ll have a higher margin of profit on each sale, which is crucial for any business!

Chicken wings are delicious, versatile, and affordable—three qualities that make them ideal for anyone looking to start their own restaurant. If you’re thinking about starting a business, consider specializing in chicken wings. You might just be surprised at how successful you can be!

How do I open a Wings Restaurant?

Opening a Chicken Wings restaurant is an exciting prospect. You’ll be providing a much-needed service to your community while also enjoying the benefits of running your own business. But opening a Wings restaurant isn’t easy – it takes hard work and planning to succeed. This guide will outline the important steps you need to take to open your own Wings restaurant. So get ready to learn, and good luck on your journey!

Create a Business Plan

Creating a business plan for your wings restaurant is essential to getting started on the right foot. There are a few key components that should be included in your business plan. First, you’ll need to decide on your restaurant’s name, logo, and branding. This will be what customers see and remember when they think of your business, so it’s important to make a good impression.

Next, you’ll need to map out your menu and prices. Make sure to offer a variety of wings with different sauces and spice levels to appeal to a wide range of customers. Finally, you’ll need to develop a marketing strategy to get the word out about your restaurant. This can include everything from flyers and billboards to social media and online advertising. By taking the time to create a well-rounded business plan, you’ll be setting yourself up for success when you open your doors for business.

Find Funding for Your Business

Before you can open your wings restaurant, you will need to find funding. There are a number of ways to do this, but the most important thing is to start early and to be prepared. This will help you to articulate your vision and goals, and it will also give potential investors an idea of what you are trying to achieve. Now that you have a business plan, you can start searching for funding. There are a number of sources of funding available, including government grants, private investment, and crowdfunding. Each option has its own set of benefits and drawbacks, so it is important to research each one carefully before making a decision. With careful planning and preparation, you should be able to find the funding you need to open your wings restaurant.

Get the Necessary Permits and Registrations

Before you can open your doors to customers, there’s a lot of paperwork to complete. You’ll need to get the necessary permits and registrations from your state and local government. Depending on your location, you may need to obtain a license from the health department or the fire marshal. And if you’re serving alcohol, you’ll need to get a liquor license. The process of obtaining all the necessary permits and registrations can be daunting, but it’s essential to ensure that your restaurant is operating legally.

To streamline the process, it’s helpful to create a checklist of all the permits and registrations you’ll need to obtain. Once you have all the required documentation, submit them to the appropriate government agency for approval. In some cases, you may be able to apply for multiple licenses at once. And in other cases, you may need to renew your permits and registrations on an annual basis. By staying on top of the administrative side of things, you’ll be able to focus on running your restaurant and delivering a great experience to your customers.

Find Suppliers

Before you can open your restaurant, you’ll need to find the right suppliers. This can be a challenge, as there are many factors to consider. You’ll need to find suppliers who can provide the ingredients you need, at the right price and quality. You’ll also need to make sure they can meet your delivery needs and have a good reputation.

Fortunately, there are a few steps you can take to find the right suppliers for your restaurant. First, reach out to your network of friends and family to see if they know of any good supplier options. Next, search online for suppliers in your area. Finally, contact each supplier to learn more about their products and services. By taking these steps, you can be sure to find the right suppliers for your restaurant.

Find the Training You Need

There’s no denying that opening a restaurant is a daunting task. Not only do you need to find the right location and design the perfect menu, but you also need to make sure you have the proper training. Fortunately, there are a number of resources available to help you get the training you need to open your restaurant. The first step is to research the different options.

You can find programs offered by community colleges, culinary schools, and even online courses. Once you’ve decide which type of program is right for you, it’s time to start shopping around. Compare costs, curriculum, and duration to find the perfect fit for your needs. Keep in mind that while some programs may be more expensive, they may also offer more comprehensive training. With a little research, you can find the ideal program to help you get your restaurant off the ground.

Find Your Location

Before you open your restaurant, you need to spend some time finding the perfect location. The location of your wings restaurant will have a significant impact on its success, so it’s important to choose wisely. There are a number of factors to consider when choosing a location for your restaurant, including foot traffic, parking, and competition. You’ll also want to consider the demographics of the area and the type of restaurant you’re planning to open. Once you’ve taken all of these factors into account, you’ll be in a better position to find a location that will help your buffalo wings restaurant thrive.

Get the Required Equipment

The next step is to purchase the kitchen equipment you need for your wings restaurant. That’s why it’s essential to know what kind of equipment you need and how much it will cost before you open your doors for business. The first step is to make a list of all the equipment you’ll need, including everything from ovens and fryers to dishes and silverware. Then, research the prices of similar items online or at restaurant supply stores. To save money, you can acquire used restaurant equipment to save money.

Finally, calculate the total cost of all the equipment you’ll need to purchase. This will help you determine whether you can afford to open your restaurant and whether it will be profitable in the long run. With this information in hand, you can make the best decision for your business.

Hire and Train Staff

Before you can open your doors to customers, you’ll need to hire and train a staff. This process takes time, so you’ll need to start well in advance of your planned opening date. One way to find qualified candidates is to post job listings on online job boards and industry-specific websites. You can also reach out to local culinary schools and ask if they have any graduates who are interested in working in your restaurant.

Once you’ve found a few candidates, be sure to conduct thorough interviews and reference checks. The best way to train your staff is to have them shadow more experienced employees. This will give them a chance to learn the ropes and get a feel for your restaurant’s culture and operations. By taking the time to hire and train a qualified staff, you’ll set yourself up for success when you open your doors for business.

Market Your Business

If you’re in the restaurant business, then marketing your business is essential to success. There are a number of ways to market your restaurant, but some methods are more effective than others. One effective way to market your business is to create a website for your restaurant. This will allow potential customers to learn about your restaurant and see what it has to offer.

You can also use social media to reach potential customers. By creating a profile on Facebook, Twitter, or Instagram, you can interact with potential customers and give them a taste of what your restaurant has to offer.

Finally, you can use traditional methods such as print ads or word-of-mouth to spread the word about your restaurant. Whatever methods you choose, make sure that you are consistent in your marketing efforts and that you are always working to reach new potential customers.

How much does it cost to start a Buffalo Wings Restaurant business?

Starting a chicken wings restaurant business can be a great way to enter the food industry. The costs of starting this type of business will vary depending on the size and location of your restaurant, as well as the menu you choose to offer. In this section, we’ll break down some of the main costs associated with starting a wings restaurant business so that you can get an idea of what you’ll need to budget for.

Location Costs

One of the biggest factors that will affect how much it costs to start your buffalo wings restaurant business is the location. If you’re planning on leasing or purchasing a space for your restaurant, you’ll need to factor in the cost of rent or a mortgage into your budget. The location of your restaurant will also affect the cost of utilities like water, electricity, and gas. If you’re leasing a restaurant, expect to pay from a couple thousand dollars to tens of thousands of dollars per month, depending on size and location.

Construction Costs

If you’re planning on doing any renovations to your chosen space before opening your restaurant, you’ll need to factor in construction costs into your budget as well. This could include anything from painting and minor repairs to major renovations like adding or removing walls. Expect $25,000-$50,000 build out costs.

Equipment Costs

Another significant cost associated with starting a wings restaurant business is outfitting your kitchen with all the necessary equipment. This could include items like commercial grade ovens, fryers, and refrigerators. You’ll also need to purchase smallwares like pots, pans, utensils, and dishware for your front of house staff. Expect to spend $10,000-$50,000 on restaurant equipment.

Furniture Costs

In addition to kitchen equipment, you’ll also need to purchase furniture for your front of house area. This could include tables, chairs, bar stools, and booths. You’ll also need to purchase decor items like artwork and lighting fixtures to make your space more inviting for customers.

Ingredient Costs

Of course, no wings restaurant would be complete without wings! You’ll need to factor the cost of ingredients into your budget when planning your menu. This will include items like chicken wings, flour, spices, and sauces.

As you can see, there are several important factors to consider when budgeting for a new wings restaurant business venture. Location costs, construction costs, equipment costs, furniture costs, and ingredient costs can all add up quickly. Most new restaurants are looking at $500,000-$1,000,000 in total costs to get started. However, with careful planning and execution, starting a successful wings restaurant is definitely achievable.

Are you thinking of starting a Chicken Wings Restaurant business? If so, you’re likely wondering how to find customers. It’s not always easy, but with a little effort, you can attract plenty of customers to your restaurant. Here are a few tips to get you started.

Define Your Target Market

When launching a restaurant, it’s important to take the time to define your target market. This will help you determine where to locate your restaurant, what type of cuisine to serve, and how to price your dishes. It’s also essential for marketing purposes, as you’ll need to know who your target customers are in order to effectively reach them. To define your target market, consider the following factors:

-Location: Where is your ideal customer located? If you’re looking to attract families with young children, you’ll want to be in a neighborhood with lots of young families. If you’re hoping to draw in a more upscale crowd, you’ll want to be in a wealthier area.

• Age: What age group do you want to target? This will affect everything from the decor of your restaurant to the type of music you play.
• Income: What is your ideal customer’s income level? This will help you determine what type of food and drink items to offer, as well as how to price them.
• Lifestyle: What is your ideal customer’s lifestyle like? Are they busy professionals who are always on the go? Or are they more likely to linger over a leisurely meal with friends and family? Knowing this will help you create an atmosphere that appeals to them.

By taking the time to define your target market, you can ensure that you’re taking the necessary steps to attract the right customers for your restaurant.

Create a Marketing Plan

The first step in any marketing plan is to understand your customer base. Who are your potential customers? What are their needs and wants? What motivates them to make a purchase?

Once you have a good understanding of your target customer, you can begin to develop a marketing strategy that will reach them. There are a variety of marketing channels available, and the best way to reach your customers will vary depending on who they are and what they’re looking for. However, some common methods for reaching customers include advertising, public relations, and direct marketing.

Once you’ve selected the channels that you’ll use to reach your customers, you need to develop a message that resonates with them. What will make them want to buy your product? Once you have a clear understanding of your customer and your message, you can begin to develop a plan for reaching them. Implementing an effective marketing plan takes time and effort, but it’s essential for any business that wants to succeed. By taking the time to develop a well-crafted marketing strategy, you’ll be able to reach more customers and grow your business.

Build a Web Presence

A web presence is critical for any business that wants to find customers online, and that includes chicken wing restaurants.Search engine optimization can help you make sure your website comes up when potential customers search for chicken wing restaurants in your area. You can also use paid advertising to get your restaurant’s website in front of potential customers who are searching for related terms.

In addition, social media is a great way to connect with potential and existing customers, and it can be used to drive traffic to your website. By building a strong web presence, you’ll be able to reach more potential customers and grow your chicken wing restaurant.

Use Organic and Paid Social Media

It’s no secret that chicken wings are one of the most popular items on restaurant menus these days. But with so many options out there, how can you make sure that your chicken wings restaurant stands out from the crowd? One way to do this is to use organic and paid social media to find customers.

By posting mouth-watering photos of your wings on Instagram and Facebook, and running targeted ads on these platforms, you can reach a wider audience and convince them to give your restaurant a try.

Additionally, it’s important to engage with potential customers online, answering any questions they may have about your menu or location. With a little effort, you can use social media to turn hungriness into business for your chicken wing restaurant.

Find a Local Food Influencer

A food influencer is an online personality who has gained a significant following by sharing their love of food through photos, recipes, reviews, and more. While some food influencers are professional chefs or food writers, others are simply passionate home cooks who enjoy sharing their culinary creations with the world. While it may seem like an daunting tasks to find the right food influencer for your chicken restaurant business, there are a few simple tips that can help you get started.

First, consider what kind of influencer would be the best fit for your brand. Do you want someone who focuses on healthy eating? Or someone who loves to indulge in comfort foods? It’s important to find an influencer whose values align with your own, as this will help them connect with your target audience.

Once you’ve narrow down your options, take a look at each potential influencer’s social media platforms to get a sense of their style and tone. Are their posts engaging and visually appealing? Do they regularly interact with their followers? These are all important factors to consider when choosing an influencer.

Finally, reach out to the influencers you’re interested in working with and start building a relationship. The more you get to know them, the better equipped you’ll be to decide if they’re the right fit for your chicken wings restaurant business.

Advertise in Local Publications

You’ve just opened a new buffalo wings restaurant in town, and you’re eager to get the word out. Where should you advertise? Your first instinct might be to take out ads in the local newspapers or on the radio. But before you do that, consider this: according to a recent study, the vast majority of consumers say they are more likely to patronize businesses that advertise in local publications.

Why is this? There are several reasons. First of all, local publications tend to be more trusted than national ones. Readers feel a sense of connection to their community paper, and they know that the ads in those papers are aimed at them specifically. Secondly, local publications are usually less expensive to advertise in than national ones, so you can get more bang for your buck. And finally, readers of local publications are generally more loyal to the businesses that support their community paper. So if you’re looking for customers for your new buffalo wings restaurant, advertising in a local publication is a smart way to go.

Get Involved with Local Community Organizations

If you’re in the buffalo wings business, one way to stand out from the competition is to get involved with local community organizations. This will help you to find potential customers for your restaurant, as well as to build goodwill among members of the community. One way to get started is by contacting groups that are likely to hold events where food is served.

For example, you might offer to cater a meeting of the local chamber of commerce, or provide wings for a fundraiser. You can also participate in community events such as fairs and festivals. This can be a great way to generate publicity for your restaurant and to meet potential customers. In addition, you can use social media to reach out to community members and promote your restaurant. By getting involved with the local community, you’ll be able to find new customers and build goodwill for your business.

Get Involved with Local Charities

A recent study by the Harvard Business School found that customers are 60% more likely to visit a restaurant that is seen as supportive of local charities. Given this finding, it makes good business sense for your buffalo wings restaurant to get involved with local charities. There are many ways to do this, but one easy way is to offer a discount to customers who present a flyer from a local charity.

This will not only help to increase traffic to your restaurant, but it will also create good will among customers who appreciate your support of the local community. In addition, you can use social media to highlight your restaurant’s involvement with charities, which will further raise your profile and attract new customers. So don’t hesitate to get involved with local charities – it’s good for business!

Host Special Days Around Sports Events

As any restaurant owner knows, attracting customers can be a challenge. And when you’re selling a niche product like buffalo wings, it can be even harder to stand out from the crowd. One way to draw attention to your wing joint is to host special events around big sporting events. For example, you could offer discounts on wings during the Super Bowl or March Madness.

Or you could host a watch party for the big game, complete with wings and beer. By aligning your business with popular sporting events, you’ll be able to reach a wider audience and score some new customers in the process. So next time your favorite team is competing for a championship, make sure to promote your wings restaurant accordingly.

Network with Local Businesses

A great way to find new customers is to network with local businesses. By forging relationships with other businesses in your area, you can tap into their customer base and get your name out there. For example, if you have a good relationship with a local grocery store, they may be willing to promote your restaurant to their customers.

Or, if you have a business neighbor who caters events, they may be willing to refer customers to your restaurant for their buffalo wing needs. Networking with other businesses can be a great way to find new customers for your buffalo wing restaurant.

Bring Your Business to Local Events and Festivals

A great way to get exposure for your new business is to participate in local events and festivals. This is a great way to introduce potential customers to your buffalo wings restaurant and let them try your food. You can also hand out menus and flyers at the event so people can remember your business when they’re looking for a place to eat. Participating in local events is a great way to build buzz for your new restaurant and attract new customers.

Get Listed in Online Directories

One way to do this is to get listed in online directories. By creating a listing for your business, you can reach a wide audience of potential customers who are looking for new places to eat. When creating your listing, be sure to include important information such as your address, phone number, and hours of operation. You may also want to include a brief description of your business, as well as photos or videos. In addition, be sure to keep your listing up-to-date so that potential customers can always find the most accurate information. By taking these steps, you can help to ensure that your new restaurant is successful.

Offer Coupons and Discounts

In order to drum up business for your buffalo wings restaurant, you may want to consider offering coupons and discounts. This can be an effective way to attract new customers, as well as encourage existing customers to come back more often.

There are a few different ways to go about this. You could offer a percentage off the total bill, or a certain number of free wings with the purchase of an entree. You could also run promotional campaigns around special events, such as the Super Bowl or March Madness. Whatever approach you take, make sure you market the coupons and discounts in a way that will reach your target audience. And be sure to track the results so you can gauge the effectiveness of your efforts.

About Jeremy Reis

Jeremy Reis is a serial entrepreneur from the Franklin, Tennessee area. Jeremy is the founder of multiple businesses and is the VP of Marketing for CRISTA Ministries. Jeremy has his MBA with a focus in Entrepreneurship from The Ohio State University.

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Start Your Buffalo Wild Wings Franchise: A Step-by-Step Guide

Buffalo Wild Wings Franchise Bundle

If you've ever dreamed of owning your own sports bar franchise, specifically a Buffalo Wild Wings franchise , then you've come to the right place. In this blog post, we will walk you through a comprehensive 9-step checklist on how to successfully open and launch your very own Buffalo Wild Wings franchisee business.

According to recent industry statistics, the sports bar market has been experiencing steady growth, with an increasing demand for unique dining experiences and entertainment options. As such, now is the perfect time to start a Buffalo Wild Wings franchise and tap into this lucrative market.

From developing a solid business plan to securing funding, negotiating a franchise agreement , scouting the perfect location, and executing a successful marketing strategy, each step in this checklist is crucial to ensuring the success of your Buffalo Wild Wings franchise business. So, let's dive in and get started on this exciting entrepreneurial journey.

• Develop a detailed business plan.
• Create a financial model for your business.
• Secure funding for your venture.
• Negotiate and sign a franchise agreement.
• Scout for an ideal location for your business.
• Obtain all necessary permits and licenses.
• Design the interior setup and branding of your business.
• Hire and train staff for your business.
• Create a marketing plan and prepare for the launch of your business.

9-Steps To Start a Business

Before launching a Buffalo Wild Wings franchise business, there are several crucial steps that need to be taken to ensure a successful start. From developing a solid business plan to securing funding and obtaining necessary permits, each step plays a vital role in setting up the business for growth and profitability.

Business Plan Development

One of the first and most crucial steps in starting a Buffalo Wild Wings franchisee business is to develop a comprehensive business plan. This plan will serve as a roadmap for your franchise, outlining your business objectives, target market, marketing strategy, anticipated revenue, operational structure, and growth forecast.

When drafting your business plan, it is essential to be thorough and detailed. This document will not only guide your business decisions but also serve as a persuasive tool when seeking investors or securing funding.

Tips for Developing a Comprehensive Business Plan:

• Research the Buffalo Wild Wings brand and understand their business model and target market.
• Include a thorough analysis of the competition in your target location and how you plan to differentiate your franchise.
• Consult with industry experts or seek guidance from the franchisor to ensure your business plan aligns with the brand's standards and expectations.

Your business plan should also outline the financial projections, including startup costs, operational expenses, and revenue forecasts. This will help you assess the feasibility of your franchise and set realistic goals for growth and success.

Furthermore, your business plan should include a detailed marketing strategy that outlines how you will attract and retain customers, promote brand awareness, and drive revenue for your Buffalo Wild Wings franchisee business.

By taking the time to develop a comprehensive business plan, you are setting a strong foundation for your franchise and increasing your chances of long-term success in the competitive food and beverage industry.

Financial Modeling: Construct Detailed Financial Models To Project Revenue, Costs, And Profitability. Include Startup Costs, Ongoing Operational Expenses, And Break-Even Analysis To Ensure Financial Viability.

One of the essential steps in starting a Buffalo Wild Wings Franchisee business is developing a comprehensive financial model. This involves creating detailed projections for revenue, costs, and profitability to ensure the financial viability of your venture. By accurately estimating your finances, you can make informed decisions and set realistic goals for your franchise.

Startup Costs: Before launching your Buffalo Wild Wings Franchisee, it's crucial to outline all the initial expenses involved in setting up the business. This includes costs for franchise fees, real estate, equipment, permits, and initial marketing efforts. By calculating these startup costs, you can determine the amount of capital needed to get your franchise up and running.

Ongoing Operational Expenses: In addition to startup costs, you must also forecast the ongoing operational expenses of running your Buffalo Wild Wings Franchisee. This includes expenses such as rent, utilities, payroll, inventory, marketing, and maintenance. By accurately estimating these costs, you can better manage your finances and ensure the profitability of your franchise.

Break-Even Analysis: Conducting a break-even analysis is crucial for determining the point at which your Buffalo Wild Wings Franchisee will start to generate a profit. This analysis involves calculating the revenue needed to cover all expenses and reach profitability. By understanding your break-even point, you can set realistic sales goals and monitor your financial progress.

Tips for Financial Modeling:

• Consult with a financial advisor or accountant to ensure your financial projections are accurate and realistic.
• Include a contingency fund in your financial model to account for unexpected expenses or economic fluctuations.
• Regularly review and update your financial models to reflect any changes in your business operations or market conditions.

Secure Funding

Securing funding is a critical step in starting a Buffalo Wild Wings Franchisee business. Identifying potential funding sources, such as loans, investors, or personal savings, is essential to ensure the financial sustainability of your venture. Here are some key steps to help you secure the necessary capital for your Buffalo Wild Wings Franchisee:

• Develop a Robust Business Plan: Before approaching potential lenders or investors, it is crucial to have a comprehensive business plan in place. Your business plan should outline your vision for the Buffalo Wild Wings Franchisee, including financial projections, operational strategies, and growth forecasts.
• Identify Potential Funding Sources: Research and identify potential funding sources for your Buffalo Wild Wings Franchisee. This may include traditional bank loans, private investors, or even using your personal savings to fund the venture.
• Prepare Financial Projections: Prepare detailed financial projections for your Buffalo Wild Wings Franchisee, including revenue forecasts, operating expenses, and cash flow analysis. Having solid financial projections will demonstrate the viability of your business to potential lenders or investors.

Tips for Securing Funding:

• Build Relationships: Establish connections with potential lenders or investors early on and build relationships to increase your chances of securing funding.
• Be Prepared: Be prepared to present your business plan and financial projections in a clear and concise manner to demonstrate the potential success of your Buffalo Wild Wings Franchisee.
• Consider Alternative Funding Options: Explore alternative funding options, such as crowdfunding or small business grants, to supplement traditional funding sources.

Franchise Agreement

When considering opening a Buffalo Wild Wings Franchisee business, one of the most crucial steps is negotiating and securing a franchise agreement with the parent company, Buffalo Wild Wings. This agreement will outline the terms and conditions of your franchise operation, including fees, support provided, and any restrictions imposed by the franchise model.

Before signing any franchise agreement, it is essential to thoroughly review and understand all the clauses and terms laid out in the document. Here are some key factors to consider:

• Franchise Fees: The franchise agreement will specify the initial franchise fee, as well as any ongoing royalty or advertising fees that you will be required to pay to Buffalo Wild Wings. Make sure you are clear on all financial obligations before committing to the agreement.
• Support Provided: Determine what kind of support and training Buffalo Wild Wings will offer to help you set up and run your franchise successfully. This can include assistance with site selection, marketing, operations, and more.
• Restrictions Imposed: Be aware of any restrictions or limitations imposed by the franchise model, such as restrictions on menu items, suppliers, or business practices. Make sure you are comfortable operating within these boundaries.

Tips for Negotiating a Franchise Agreement:

• Seek legal advice: Before signing any franchise agreement, it is highly recommended to consult with a franchise attorney who can help you understand the legal implications of the contract.
• Ask questions: Don't hesitate to ask questions and seek clarification on any aspects of the agreement that you are unsure about. It's better to be informed upfront than to encounter surprises later on.
• Negotiate terms: If there are certain terms in the agreement that you are not comfortable with, negotiate with the franchisor to see if they can be adjusted to better suit your needs.

Location Scouting

When starting a Buffalo Wild Wings franchisee business, selecting the right location is paramount to its success. An optimal location can significantly impact foot traffic, customer engagement, and overall profitability. Here are some key factors to consider when scouting for the perfect site:

• Foot Traffic: Choose a location with high foot traffic to ensure a steady flow of customers. Busy areas like shopping malls, downtown districts, or popular entertainment venues can attract a wide range of patrons looking for a place to dine and watch sports.
• Local Competition: Conduct a thorough analysis of the local market to identify potential competitors in the area. While some competition can indicate a thriving market, too much competition may pose challenges in attracting and retaining customers. Look for a location with a healthy balance of demand and limited direct competition.
• Target Demographics: Understand the demographics of the area you are considering for your Buffalo Wild Wings franchisee. Factors such as age, income level, interests, and lifestyle can influence the success of your business. Choose a location that aligns with the target market of Buffalo Wild Wings, which typically includes sports enthusiasts, young adults, and families.

Tips for Location Scouting:

• Consider partnering with a commercial real estate agent who specializes in restaurant and retail spaces to help you navigate the local market and find the best location for your Buffalo Wild Wings franchisee.
• Visit potential sites during different times of the day and week to assess traffic patterns and customer behavior in the area.
• Engage with the local community and gather feedback on potential locations to gauge interest and support for your Buffalo Wild Wings franchisee business.

Once you have identified a few promising locations, ensure that the site aligns with the brand requirements set forth by Buffalo Wild Wings. The space should have the capacity to accommodate the unique sports bar experience that the franchise is known for, including multiple TV screens, seating options, and a vibrant atmosphere.

Additionally, evaluate the potential for high customer engagement at the selected location. Factors such as visibility, accessibility, parking availability, and proximity to other amenities can contribute to the overall customer experience and drive repeat business.

Permits And Licenses

One of the critical steps in starting a Buffalo Wild Wings Franchisee business is obtaining all the necessary permits and licenses to operate a food and beverage establishment legally. This process involves securing permits at the local, state, and federal levels to ensure compliance with regulations and laws governing the operation of such businesses. Failure to obtain the required permits and licenses can result in hefty fines, legal action, and ultimately, the shutdown of the business.

When it comes to Buffalo Wild Wings Franchisee , there are several permits and licenses that you will need to apply for before opening your doors to customers. This may include liquor licenses, health department certifications, and general business operations licenses. Each of these permits plays a crucial role in ensuring that your business operates within the parameters set by regulatory authorities.

Here is a breakdown of the permits and licenses you may need to obtain for your Buffalo Wild Wings Franchisee business:

• Liquor Licenses: If you plan to serve alcohol at your establishment, you will need to acquire a liquor license. The process for obtaining a liquor license can vary depending on the state and local regulations. Be sure to research the specific requirements in your area and apply for the necessary permits.
• Health Department Certifications: To ensure the safety and quality of the food you serve, you will need to obtain certifications from the health department. This may involve inspections of your kitchen, food handling practices, and overall cleanliness of the establishment.
• General Business Operations Licenses: In addition to specific permits related to the food and beverage industry, you will also need to secure general business operations licenses. These licenses typically cover aspects such as zoning regulations, building codes, and other requirements necessary to run a business legally.

Tips for Obtaining Permits And Licenses for Your Buffalo Wild Wings Franchisee:

• Start the permit and license application process early to allow for any delays or unexpected requirements.
• Work closely with local regulatory authorities to ensure that you have all the necessary documentation and meet all the requirements.
• Keep track of renewal dates for permits and licenses to avoid any lapses in compliance.

Interior Setup And Branding

Designing the interior of your Buffalo Wild Wings Franchisee sports bar is a critical step in creating a unique and inviting space for your customers. The goal is to align with Buffalo Wild Wings' brand standards while adding your own touch to enhance the overall customer experience.

When it comes to the interior setup, it's essential to create a space that reflects the lively and energetic atmosphere associated with sports bars. This includes incorporating elements like large TV screens for sports viewing, comfortable seating arrangements, and a vibrant color scheme that matches the Buffalo Wild Wings brand.

Purchasing necessary furniture, kitchen equipment, and decor is a crucial part of setting up your sports bar. Here are some key considerations:

• Choose durable and comfortable furniture that can withstand high traffic and frequent use. Opt for seating options that cater to both small and large groups of customers.
• Select high-quality kitchen equipment and appliances to ensure smooth operations in the kitchen. This includes equipment for cooking, food preparation, and storage.
• Pay attention to the decor and branding elements throughout the space. Incorporate Buffalo Wild Wings' trademark colors, logos, and signage to create a cohesive brand experience for your customers.

Tips for designing the interior of your Buffalo Wild Wings franchisee sports bar:

• Consider creating designated spaces for different types of customers, such as a bar area for solo patrons and a dining area for families and groups.
• Use lighting strategically to create ambiance and highlight key areas of the sports bar, such as the bar counter or sports memorabilia display.
• Personalize the space with unique decor elements that reflect your own personality and style, while still staying true to the Buffalo Wild Wings brand.

Staff Recruitment

When it comes to launching your Buffalo Wild Wings Franchisee business, one of the most crucial aspects is hiring the right staff. Your team will be the face of your business and play a significant role in ensuring customer satisfaction and operational efficiency.

Focus on Positions: When recruiting staff for your Buffalo Wild Wings Franchisee, it is essential to prioritize key positions such as managers, chefs, servers, and bartenders. These roles are critical in delivering exceptional service and maintaining the quality standards of the brand.

Hire Experienced and Enthusiastic Staff: Look for candidates who have experience working in the food and beverage industry, particularly in sports bars or similar establishments. It is also important to select individuals who are passionate about the brand and enthusiastic about creating a memorable experience for customers.

Thorough Training: Once you have hired your staff, invest time and resources in conducting comprehensive training programs. Ensure that all employees are well-versed in the menu offerings, customer service protocols, and operational procedures. This will help maintain high standards of service and efficiency across your Buffalo Wild Wings Franchisee.

Tips for Staff Recruitment:

• Utilize social media platforms and online job portals to reach a wider pool of candidates.
• Consider hosting open recruitment events or job fairs to attract potential employees.
• Seek referrals from industry contacts or employees to find qualified candidates.

Marketing And Launch

Developing a solid marketing strategy is essential for the success of your Buffalo Wild Wings Franchisee business. By creating buzz before the official launch, you can generate excitement and anticipation among your target audience. Utilizing a combination of social media, local advertising, and promotions will help you reach a wider audience and build brand awareness.

Social Media: Utilize popular social media platforms such as Facebook, Instagram, and Twitter to connect with your target audience. Share engaging content, including sneak peeks of your menu, behind-the-scenes looks at your establishment, and special promotions. Encourage followers to like, share, and comment on your posts to increase visibility.

Local Advertising: Consider placing ads in local newspapers, magazines, and radio stations to reach potential customers in your area. Collaborate with local influencers or bloggers to promote your franchise and create a buzz in the community. Attend local events or sponsor sports teams to further establish your presence in the market.

Promotions: Offer special promotions and discounts leading up to the grand opening to entice customers to visit your Buffalo Wild Wings Franchisee. Consider hosting contests or giveaways on social media to increase engagement and attract new followers. Create a buzz by highlighting your unique menu items, drinks, and atmosphere.

Tips for a Successful Marketing Strategy:

• Collaborate with local businesses or organizations for cross-promotional opportunities.
• Utilize targeted advertising on social media to reach specific demographics in your area.
• Create a sense of urgency by offering limited-time promotions or exclusive deals for early customers.

Grand Opening Event: Plan a grand opening event to attract initial customers and establish a presence in the local market. Consider hosting a ribbon-cutting ceremony, live music, giveaways, and special discounts to create a memorable experience for guests. Invite local influencers, media outlets, and community leaders to generate buzz and increase visibility for your franchise.

By developing a comprehensive marketing strategy and planning a successful launch event, you can create excitement around your Buffalo Wild Wings Franchisee business and attract a loyal customer base from the start. Stay engaged with your audience, monitor feedback, and adjust your marketing efforts accordingly to ensure continued success.

Opening a Buffalo Wild Wings franchisee business can be a rewarding venture for entrepreneurs looking to enter the restaurant industry. By following the 9-step checklist outlined above, aspiring franchisees can effectively plan, launch, and manage their own sports bar establishment. From developing a comprehensive business plan to securing funding, selecting a prime location, and executing a successful marketing strategy, each step is crucial to the overall success of the business.

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• With a focus on delivering a unique sports bar experience and delicious wings, franchisees can cater to a wide range of customers and establish a strong presence in the local market.
• By adhering to brand standards, recruiting a dedicated team, and creating a buzz around the grand opening, Buffalo Wild Wings franchisees can create a thriving business that appeals to sports fans and food enthusiasts alike.

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Buffalo Wild Wings' Plan To Take Itself to The Next Level

Buffalo Wild Wings is the fastest-growing casual dining restaurant in America. 

The chain's sales soared 6% in the third quarter despite widespread troubles in the casual dining sector. 

Executives are planning a myriad of changes to get customers to come more often, stay at the restaurant longer, and spend more money. 

Buffalo Wild Wings recently shared its plan with UBS for a recent report. 

Here's what will be different going forward. 

1. Lots of tablet features.

Buffalo Wild Wings already has trivia and games on its tablets. Starting next year, the company will let customers order using the devices. This will eliminate the chance that a customer's order will be misheard in the noisy sports bar. It also creates a more efficient system in the kitchen.

The company is also adding options to pay for games and music. 

UBS also notes that Buffalo Wild Wings is working on letting customers pay from the tablet. 

2. Equipping servers with handheld devices. 

Giving servers electronic devices will help them better communicate with customers and the kitchen. It could also expedite the payment process — servers could theoretically swipe the cards tableside, rather than going to a machine and back. 

3. Loyalty program. 

Buffalo Wild Wings is working on implementing a loyalty program, but there are few details right now. 

"This is likely to be a long-term evolution and unlike anything you've seen offered anywhere else, with a lot of flexibility for how to earn points and what you can do with your points," the UBS analysts write. "Extra points for a Blazin' Challenge? Yes, likely."

4. "Your Own" audio. 

Buffalo Wild Wings is looking into implementing technology that would allow a person to stream any game of their choice and listen using headphones, according to UBS. This could make the viewing experience more enjoyable during loud, busy times. 

5. Ordering ahead. 

The restaurant chain is developing order-ahead technology. This would enable fast pick-up and would be especially compelling for lunchtime customers who are in a hurry. 

6. More sauces and beer. 

The company's Sauce Lab has been a "tremendous success," the UBS analysts write. Buffalo Wild Wings releases new chicken wing sauces 7 times a year in flavors like Korean BBQ and Chipotle Cherry Sting. Many of the special flavors have sold out. 

Management is also capitalizing on the craft beer trend and adding regional taps to the menu. 

7. Local events. 

UBS analysts say that local sporting events are an "untapped market."

"Some work needs to be done regarding rights to show games etc. but think about an away football game on a Friday night in a smaller market—we think it's an obvious initiative," the analysts write. "There are options for game replays and much more as well."

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Free Buffalo Wild Wings Strategic Plan And Implementation Business Plan Sample

Type of paper: Business Plan

Topic: Business , Industry , Company , Marketing , Competition , Market , Products , Services papers

Words: 3250

Published: 02/27/2020

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Executive Summary

Starting a business is one thing but maintaining one can be another. Beginning businessmen may already find it hard to start a business, a franchise, a corporation, or a small company that subcontracts work from outsources now knowing that they have only just began. During the startup period of a business, challenges should always be expected for they will surely come. The first or in some cases, even the second year of the business’ existence may still be well considered as part of the startup phase. It is after the first one to two years that the business will encounter maintenance and business risk-related problems. /> The objective of this paper is to discuss the difference aspects of maintaining a business named Buffalo Wild Wings, analyze its core values, and mission as an organization; lay out strategic and management plans for the first two and upcoming years and how such plans can be implemented. The paper has been divided into ten sections, each having a purpose. The first four sections will focus on characterizing or describing the company based on the idea that the business owners and planners have in mind. This is where the core values and mission of the company will be discussed in detail. The following sections would be an analysis of the industry where the business owners are planning to plant their business in. Based on the name of the business, it may well be considered that Buffalo Wild Wings would fall under the food and service industry. The environmental or industry analysis may well be the bulkiest part of the presentation because of the fact that all strategies, decisions, and plans of the business owners would depend on their outlook of the food and service industry and their confidence in putting their investments in it as evidenced by their willingness to put up a business. The last few sections will focus on the intra-organizational plans that the owners and planners have in mind all of which are in accordance with the findings from the industry and environmental analysis. The initial and current strategies for business maintenance and growth shall be outlined followed by some recommendations as to how the business can grow faster than its current projected pace. Planning would basically be useless if the plans would not be converted into actions. Implementation plans will basically outline how the managers are planning to carry out their plans and achieve business goals and objectives. The last two parts of the paper shall deal with the risks and threats surrounding the business and how the business managers can minimize the effects of such risks and threats in case they explode. Such mitigation plans shall also be followed-up by contingency plans should the original strategies and implementation plans prove to be ineffective in ensuring the growth or worse, the survival of the business. After spending a significant amount of time thinking about the best strategies and analyzing the food and service industry and the business plan itself, the authors of this paper suggest that continuing Buffalo Wild Wings as a business is feasible and offers promising albeit not spectacular investment returns due to the increasingly high level of competition in the food and service market and the fact that current market behavior indicates consumers’ buying and availing decisions will be mainly guided by brand bias and awareness, an aspect where Buffalo Wild Wings fares goodly as it is already more established compared to other players in the industry, although there are also some players that are larger and more established in the industry.

Company Background

Buffalo Wild Wings started in 1982 as a small four-cornered restaurant in Columbus, OH. The first few years turned out to be very successful and profitable ones for them. Since then, the company’s executives started to plan and execute the process of planting new stores. Now, Buffalo Wild Wings has grown to have at least one store in every U.S. state there is. We live in an era where the practice of shortening every word that can be possibly shortened is prevalent. The name of Buffalo Wild Wings has also been shortened. For years, it has been more famous as B-Dubs. B stands for Buffalo while Dubs stands for the two “W”s (Wild and Wings). There are three things that are unique, at least when they started, to Buffalo Wild Wings since their first few branches were established way back in the 80s: Wings, Beer, and Sports. It is not a recipe. It is more like a trademark that describes what a customer should expect when planning a visit on a Buffalo Wild Wings branch. According to the company’s website, there is only one reason why they decided to pick those three things as part of their trademark or more like a company tradition and that is because it is what their patrons and fans want and that there is only one thing they are most committed to doing—making their fans happy.

Organizational Mission

In the Buffalo Wild Wings headquarters in Minneapolis, Minnesota, and also in other major branches, there is only one mission that the company has. “Our mission is to WOW people every day” . It can be seen that the company has a rather short mission statement at least when compared to other restaurant chains that are similar in size and complexity. However, in this case, short does not translate to useless. It is just that Buffalo Wild Wings’ mission is concise. According to the company, there are four specific how to WOW strategies that it uses and encourages its employees to follow as guides in their actions, behaviors, decisions, and priorities every working day: 1. We are Guest Driven – we will wow our guests every day. 2. We are Team Focused – we will wow our team members. 3. We are Community Connected – we will wow the communities where we do business. 4. We are dedicated to Excellence – we will wow our franchisees and stakeholders.

Value Statements

Things like value statements, code of ethics, and business conduct are important business indicators as they can be used by customers and potential business partners as tools in making impressions about a particular company. By reading value statements, code of ethics, and business conduct statements, one can look into how the company and its managers do and treat business. These indicators are like windows to the business’ operations. This code applies to all team members, directors, officers, and all employees of Buffalo Wild Wings Inc. and its operating subsidiaries, each is referred to as the company. It is important to the success of the code that each team member understands that: - We should help to safeguard the company’s reputation for integrity in our business dealings. We are each personally responsible for our own conduct in complying with this code as it pertains to our jobs. - We are responsible for promptly reporting known or suspected violations to the individuals designated for this purpose - We should seek assistance when we have questions about Buffalo Wild Wings’ code or when faced with a challenging ethical situation. - No one has the authority or right to order, direct, request or even influence someone else to violate this code or the law. Thus, no one will be excused for violating this code or the law at the direction or request of someone else. - Any attempt by any team member to have someone else violate this code, whether successful or not, is itself a violation of this code and may be a violation of the law. - Any retaliation or threat to retaliate against a team member for refusing to violate this code or for reporting in good faith a violation or a suspended violation of this code is itself a violation of this code and may be a violation of the law. - Every reported suspected violation of this code will be investigated and every violation will result in disciplinary action up to and including immediate dismissal of the team member. Buffalo Wild Wings’ business code and ethics revolve around these three questions: 1. is this action the right thing to do? 2. Would this action withstand public scrutiny? 3. Will this action uphold Buffalo Wild Wings’ reputation as an ethical company? All Buffalo Wild Wings team members should remember these three questions before making any decisions and acting on it. If the answer to at least one question is not a definite yes, then by all means, the team members should not do it or that could be considered as a violation to the code .

Environmental Scan and Analysis

Buffalo Wild Wings may not be the biggest restaurant franchise in the U.S. but over the years of growth and expansion, it has placed itself well in the top 10 fastest-growing restaurant chains in the country. The fact that this business which was established in 1982 expanded into its size today and still continues to grow and plant more branches means that the market has not started looking for alternative commodities; that consumer preferences at least towards Buffalo Wild Wings’ products and services have not significantly changed—otherwise there would be a dramatic drop in branch sales and performance; and that the food and service market and industry has continuously expanded since the business’ inception. There are three interrelated subcategories that are important in performing an analysis of Buffalo Wild Wings’ external environment and these are: the remote, industry, and external operating environments. Remote environments pertain to the different economic factors, patterns, and indicators that may have a direct or indirect effect on the company’s growth, and the plans and decisions that the company’s management makes. An upward trend in economic activity would for example be perceived by the Buffalo Wild Wings’ executives as a good opportunity to expand their business and operations further since the risks of investment failure would be lower. The main point here is that the patterns and trends in the economy directly affects the plans and decisions of businesses. An upward trend in economic activity would most likely stimulate expansionism; a downward trend on the other hand would most likely serve as a signal for businesses to cut expenses and focus more on survivability. An industry consists of a collection of firms that offer similar products or services to a market. A market on the other hand pertains to a pool of consumers or businesses (as in the case of wholesalers selling commodities to retailers) that the businesses’ products or services are made for. Since Buffalo Wild Wings is not a local food business any longer, it should not be concerned on going after its local competitors in terms of product value and cost-effectiveness. It should now be more focused on larger industry players. As it grew to be one of the fastest growing restaurant chains in the country—the U.S., its competitors just grew fiercer and larger, and also in number as the fact that it still has to deal with local businesses taking away its share of the market remains unchanged despite its spectacular growth rate. Locally, there are a lot of sports bars offering similar products and services, and even themes (Wings, Beer, and Sports) operating within at least a twenty mile radius from Buffalo Wild Wings’ branches. In the Hattiesburg area for example, one of Buffalo Wild Wings’ toughest competitors is Hooters. “Hooters” is a restaurant business that offers the same products and services, and even theme that Buffalo Wild Wings offers. Of course in other areas, the list of Buffalo Wild Wings’ competitors may be longer and the competitors may be tougher, depending of course on the branch location. If Buffalo Wild Wings wants to maintain its position as one of the fastest growing restaurant chains in the country, then it should not put its guard down or else, some other company may swiftly take its place. The external operating environment consists of the following factors: “the firm’s competitive position, the position of its customers, its reputation among suppliers and creditors, and its ability to attract capable employees” . Buffalo wild wings compete on the basis of taste, customer service, price and the uniqueness of the dining experience—thanks to its theme. These factors are what make it competitive in the market. The products and services being offered in all Buffalo Wild Wings branches are narrowed down to a point that only a few competitors will match that level of specificity, an effective method of bringing down the number of competitors. Company and brand awareness are two important factors that have a direct influence on sales. The higher the company and brand awareness are, the more the managers can expect to have lower table turnovers. Buffalo Wild Wings currently uses updated marketing and operational strategies to ensure the recognition and consistency of the organization through its partnership and affiliation with award-winning advertising and marketing organizations specializing in franchised restaurants. The company also uses stringent policies and measures to ensure that only the most qualified employees get to serve the customers and handle or in some cases participate indirectly in the delivery of the products and services. At the same time, it also ensures that its employees are well taken care of by providing a competitive and at the same time, enjoyable working environment.

Review of Strategies

Buffalo Wild Wings has won several awards across the country which means it is walking on the right path. Competitive pricing policies, the wide variety of food and service choices in their branches, and the memorable experience eating in the restaurant branches—thanks to its unique combination of Wings, Beer, and Sports, are the three main reasons behind its award-winning success. Apart from these three product and service-centered strategies, Buffalo Wild Wings’ management also plans to uphold and ideally improve its position in the industry by recruiting, developing, and supporting highly qualified management teams and team members and implementing operational standards and best practices in all Buffalo Wild Wings restaurants .

Recommendations

Based on the company’s latest reports and financial statements, it can be ascertained that they are doing a good job and is walking the right path. Should these things continue, the company would probably end up with higher customer satisfaction and brand and corporate awareness ratings over the next couple of years. Of course that would be great for their growth. One recommendation at this point is for Buffalo Wild Wings to continue whatever it has done in the past that led to positive results such as their competitive pricing policies, their wide selection of products and services, and the memorable dining experience they guarantee, and their commitment to product and customer service excellence. The managers should watch out for constantly changing consumer preferences and market behaviors as these two could potentially undermine their hard-earned track record of being one of the fastest growing restaurant chains in the U.S.

Risks and Threats

Competition is the single biggest real and existing threat that managers at Buffalo Wild Wings should keep at bay. Evidently, the company’s managers have been successful in doing so in the past years up to now. However, those competitors also see Buffalo Wild Wings as a competitor and so naturally, it will continue to develop products and create policies that have the potential of chirping away Buffalo Wild Wings’ share on the food and service market. If Buffalo Wild Wings would become conceited and confident with their currently strong position in the market, chances are it will be overrun by its competitors not now but in the future. Constantly changing market behavior and consumer preferences are constant threats, although not yet existent, that the management should always look into. They should always anticipate and review changes in the market as such changes should dictate the way and the frequency of the development of new products, services, and gimmicks.

Implementation Plans

The recommended strategies can be implemented by creating a new and more aggressive pricing policy. Another important aspect of the implementation is the opening up of new branches located in strategic and high-traffic locations locally and internationally. Of course, opening branches in foreign markets would require more research as factors like consumer preferences and socio-cultural factors would always be a part of the decision-making process. Buffalo Wild Wings should also consider affiliating with or if this is not possible, using the services of marketing and advertising companies—a move which would lead to increased brand and corporate awareness. Aside from these three, the company should continue what it has been doing for the past years because as far as performance is concerned, they are still leading to positive results .

Contingency Plans

Contingency plans are important because they function as an airbag that protects the driver in case of an accidental car crash . The same is true for Buffalo Wild Wings. Contingency plans would serve as protection in an event of a local or international market crash. The good thing about this is that Buffalo Wild Wings operate in the food and service industry which is a considerably robust industry. In an event of a local or international economic crash, companies operating in this industry would not be that affected when compared to other companies in other industries such as the financial, investment capital, and real-estate industries. One good contingency plan for Buffalo Wild Wings is to control, but not limit, their exposure to the capital market because they will surely need capital for their expansion plans. What they should limit are their exposure to bank loans and other liquidity sources that can lead to a financial disaster in an event of an economic crash.

Conclusions

In conclusion, Buffalo Wild Wings is currently in a good industry position. If it wants to retain that status and ideally make expansions in the food and service industry, it should continue to exert effort and focus on competitive pricing, product and service varieties that are in accordance with the market consumer taste and preferences, excellent customer service, higher levels of brand and corporate awareness through marketing and advertising campaigns. It should keep in mind that the constantly changing market behavior and consumer preferences are risks that will always be present and so it should make sure that its products and services are always up to date and dynamic. It should also keep its competitors at bay by continuously offering more cutting edge and competitive products and services that are appropriately priced.

Buffalo Wild Wings. (2014). Buffalo Wild Wings Code of Ethics and Business Conduct. Buffalo Wild Wings . Buffalo Wild Wings. (2014). Buffalo Wild Wings Mission Statement. BWW. Craig, K. (2005). The analytical approach to corporate strategy and policies. New York: McGraw-Hill. NASDAQ. (2014). Buffalo Wild Wings, Inc. Eearning Forecast. NASDAQ. Pearce, J., & Robinson, R. (2013). Strategic Management: Planning for Domestic and Global Competition 13th Edition. New York, NY: McGraw Hill. U.S. Securities and Exchange Comission. (2014). Bufallo Wild Wings. U.S. Securities and Exchange Comission.

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