There are lots of reasons why franchisees from other brands might look at Buffalo Wings & Rings as a new opportunity. According to Philip Schram, chief development officer at the company, part of this has to do with the way franchising has changed since The Great Recession.
“In 2008, we saw a lot of franchisees who were working in corporate America and saw franchising as a new career path,” Schram said. “The environment is different now. Getting capital is more difficult, and it seems as if most franchise buyers now are multi-unit operators. These are the people who know what they are doing and understand how best to increase revenue. It’s all about the economy of scale.”
Since Buffalo Wings & Rings is not saturated in many areas, multi-unit franchisees are finding themselves attracted to the brand. They know they can open up multiple locations in areas without cannibalizing themselves.
“We see a lot of prospects who have great teams in place and want to grow, but don’t have room to do so,” Schram continued. “Acquiring a new brand gives them the room they need and also presents their teams with a change of pace they can get excited about.”
Of course, the allure of the brand goes beyond its concentrated growth strategy.
“We are in a very strong, proven category where there are very few players,” Schram continued. “Any other category might have hundreds of major players, be we have amazingly little competition in ours. We also have a menu and a concept that travels very well. Sports is religion in the U.S., and the dishes we serve are flavorful classics that are appreciated across the country and internationally.”
Existing franchisees find themselves drawn to Buffalo Wings & Rings, and the brand reciprocates the feeling. While the Buffalo Wings & Rings team is focused on bringing only the best of the best on board for its franchise system, the brand is predisposed to show interest in men and women who have proven they can flourish within a franchise system.
“We want people who understand the system and want to follow it,” Schram said. “People who have worked in franchising typically understand what it is and how to succeed in it.”
And with so much growth potential on the horizon, it’s unlikely interest in the brand from seasoned franchisees will wane anytime soon.