Wings Etc. vs First Watch
Franchise Comparison 2026
Both Wings Etc. and First Watch are full-service restaurants franchises. Wings Etc. requires an investment of $369K – $2.9M while First Watch requires $1.2M – $2.0M. Wings Etc. discloses average revenue of $1.6M; First Watch does not report Item 19 data. On SBA loan performance, First Watch has a lower charge-off rate (0.0%) compared to Wings Etc. (12.2%). FranchiseVerdict rates Wings Etc. A (Top Quintile) and First Watch A (Top Quintile).
| Metric | Wings Etc. | First Watch |
|---|---|---|
| Verdict Grade | ATop QuintileTop Quintile | ATop QuintileTop Quintile |
| Investment Range | $369K – $2.9M | $1.2M – $2.0M |
| Franchise Fee | $25K | $40K |
| Royalty Rate | 5.0% | 4.0% |
| Average Revenue (Item 19) | $1.6M | N/A |
| SBA Charge-Off Rate | 12.2% (53 loans) | 0.0% (12 loans) |
| Total Units | 80 | 474 |
| Unit Growth (YoY) | N/A | N/A |
| Year Began Franchising | 2005 | 2008 |
| FDD Year | 2025 | 2023 |
Investment Range
$369K – $2.9M
$1.2M – $2.0M
Franchise Fee
$25K
$40K
Royalty Rate
5.0%
4.0%
Average Revenue (Item 19)
$1.6M
N/A
SBA Charge-Off Rate
12.2% (53 loans)
0.0% (12 loans)
Total Units
80
474
Unit Growth (YoY)
N/A
N/A
Year Began Franchising
2005
2008
FDD Year
2025
2023