Bottom line
- Total investment $219K – $473K including a $35K franchise fee, 6.0% ongoing royalty.
- Average unit revenue of $582K/year (median $571K).
- Rated CAUTION with a risk score of 70/100. SBA loan default rate of 0.0% across 7 loans (below the industry average).
- Emerging franchise — only 3 years of franchising with 12 units. Early-stage systems carry higher risk but may offer better territory availability.
Item 1 · who you're contracting with
The Franchisor
Yale framework · single-unit ROIC
Returns Analysis
Pulls Item 7 (investment) and Item 19 (revenue) from this brand's FDD into the Yale unlevered-ROIC formula. Override any input to stress-test it against your own assumptions.
The model · Yale framework
What would one Wing It On! unit return on the cash you put in?
Unlevered ROIC · per unit
21%
Below typical band (30–60%)
Levered LBO scenario · Yale Crease Capital framing
What would 25 Wing It On! units return on equity?
Equity IRR · 5-yr
49.9%
7.57× MOIC
Year-1 DSCR
1.88×
EBITDA ÷ debt service
Equity required
$757K
on $3.8M purchase
Total debt
$3.0M
SBA $1.9M + senior + seller note
Overview
About
Wing It On! franchisees operate sports-themed restaurants/bars focused on chicken wings and casual dining. Day-to-day operations include food preparation, kitchen management, server and bartender oversight, inventory control, and customer service in a QSR/casual dining hybrid model.
Item 7 · what it costs
The Vitals
Item 19
Financial Performance
Item 20 · unit dynamics
The Growth Chart
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 26 states with active franchisees
The Territory Map
Derived from franchisee contact records. Shows states with at least one current operator — not where the franchisor is registered to sell new units (that data is re-extracting in a future refresh).
States derived from franchisee phone area codes (Item 20). Approximate — ported numbers may show the original state, not the franchisee's current location.
Government records
SBA Loan Data
Aggregated from SBA 7(a) loan disclosures, public data unique to FranchiseVerdict.
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
Wing It On! presents high-risk investment profile due to rapid unit collapse, active fraud-related litigation involving a key officer, undisclosed net income metrics, and franchisor going-concern issues.
Score breakdown · what drove the 70 / 100 rating
- 01MINORSystem declining sharply: 27.3% unit contraction year-over-year (12 units remaining)
- 02HIGHActive litigation involving franchise officer Joshua Halpern alleging fraudulent and negligent misrepresentation with affiliate BC Licensing, LLC
- 03MINORNo Item 19 (average net income) disclosure despite $581,953.99 average revenue suggests profitability concerns
- 04MINORHigh initial investment ($218,900–$473,333) combined with 6% royalty creates significant breakeven burden
- 05HIGHGoing Concern status is False, indicating potential financial instability at franchisor level
- 06HIGHLitigation tied to affiliate entity suggests corporate structure opacity and franchisee protection gaps
Severity inferred from the FDD text · not a regulatory classification
FDD Items 5, 6, 12, 17 · continued from Risk & Legal
Contract & Territory Detail
Item 11
Training & Operations
Item 20
Franchisee Contacts
Phone numbers extracted directly from this brand's FDD Item 20. After purchase, you'll also receive a list of validation questions tailored to this brand.
Franchisee contacts
44 numbers
One-time purchase · CSV download · Validation questions included
FDD download
Wing It On! · FDD (2025) PDF