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Since its establishing in 1982, Buffalo Wild Wings (NASDAQ:BWLD) has grown into one of the most familiar names in the casual dining industry. However despite its succinct "Wings. Beer. Sports." sign line, there"s much more to its success 보다 you can think, indigenous its figure skating roots to that ambitious plans for the future.
Here space 15 facts around Buffalo Wild wing that might surprise both diners and investors alike.
Image source: Getty Images.
1. That has figure skating roots. Though B-Dubs management regularly explains American soccer season as its "favorite time the the year," co-founder Jim Disbrow to be a longtime number skating agree in the 1960s, and he later on served together president the the U.S. Number Skating association from 1998 to 2000. While travel to Columbus, Ohio, where Disbrow was collection to referee an amateur figure skating competition, he and co-founder Scott Lowery came up through the idea because that Buffalo Wild wings after lock couldn"t discover a regional restaurant that served the new York-style wings they craved.
2. The initial Buffalo Wild wing in Ohio closed in 2006. But don"t worry, it was replaced in 2007 with a giant upgraded 8,000+ square-foot ar only 2 blocks away.
3. B-Dubs waited 29 years to start international expansion. Buffalo Wild Wings" an initial international restaurant opened up in Canada in 2011, nearly three decades after the firm was founded and also eight year after its initial publicly offering. Since then, Buffalo Wild Wings has opened added locations in Canada, Mexico, the Philippines, and also it just last month opened its very first restaurant in Dubai.
4. It wants to (almost) triple its variety of locations. At one investor event last year, administration outlined permanent plans to flourish the number of restaurants to 3,000 worldwide, or virtually triple its current base of simply over 1,100. However reaching the goal will take time -- the agency aims to have actually at least 2,100 locations roughly nine years from now, consisting of 1,700 locations in phibìc America and also 400 internationally.
5. Buffalo Wild Wings owns stakes in two various other restaurant concepts, including a majority stake in street taco specialist R Taco (formerly well-known as Rusty Taco) and a minority position in PizzaRev, the so-called "Subway the pizza." keeping in mind over there are right now just 29 PizzaRev locations and nine R Taco restaurants in the U.S., both room promising fast casual chains v the potential for nationwide expansion.
6. ... And also plans come invest in up to seven more. Shortly after ~ announcing the R Taco investment last year, Buffalo Wild wings CEO Sally blacksmith revealed that the firm had "probably looked in ~ 200-plus" investment candidates and intends to invest in as numerous as seven much more over the next 5 years.
7. It"s aggressively gaining franchises, too. Earlier this year, the company spent a chuck $160 million to repurchase 41 franchised locations across Texas, new Mexico, and also Hawaii -- and that to be on peak of 16 separate franchise acquisitions v the end of the second quarter. Though franchising permits restaurants to gain a predictable currently of aristocracy revenue and also expand easily with small overhead, company-owned places are generally even more lucrative, and they enable Buffalo Wild wings to certain a more consistent customer experience.
8. It has actually a distinctive pricing structure for its it is provided of timeless wings. After enduring a substantial 30% increase in timeless wing prices over the food of simply a few months so late last year, Buffalo Wild wings arranged for modified pricing agreements for approximately two-thirds of its traditional wing it is provided to mitigate volatility. Those agreements walk into impact this previous April, and according to CFO mar Twinem, "effectively narrow the selection of cost per pound the we will pay when traditional wings are at historically high and low industry prices."
9. Together a portion of complete sales, traditional and also boneless wings space neck and also neck. despite you might think classic wings are quickly the most popular item on the menu, you"d be wrong. Traditional and also boneless wing each comprised 21% of total sales last quarter.
10. Buffalo Wild wings is the biggest pourer of breeze beer in the country. Similarly, alcoholic beverages comprised approximately 20% that sales critical quarter. According to VP of Food & Beverage Andy Dismore, B-Dubs pours more draft beer than any type of other agency in the U.S. And perhaps much more than any kind of other chain in the world.
11. B-Dubs is careful and also strategic with price increases. In fact, the firm is at this time in the process of implementing a three-step price rise to offset higher labor and food costs. First, the initiated a menu price rise on alcohol in August. Climate last month, it boosted Wing Tuesday and also Boneless Thursday pricing in approximately one 4 minutes 1 of every company-owned restaurants. Finally, Buffalo Wild wing will readjust prices upward for its more comprehensive menu top top Nov. 2, 2015. Even so, these increases likely won"t be i found it by the vast bulk of diners as the cumulative affect of price boosts over the past year will be just 3.9% in the 3rd quarter and also 4.2% in the fourth.
12. Tablet computer payment and also ordering room on the way. In an initiative to improve operational performance and also the guest experience, Buffalo Wild wing is experimentation tablet-based payment and also ordering in the second fifty percent of 2015. If all goes well, the new functionality will most likely roll the end nationwide next year.
13. Buffalo Wild Wings wants your lunch money for a reason. In April, the company launched a new systemwide having lunch program referred to as "B-Dubs fast Break." The regimen targets value-conscious buyers with minimal time at lunch, which previously comprised only 19% of full sales. With rapid Break, its goal is to not only rise that share and also reduce its dependence on the dinner (49%), so late night (16%), and also happy hour (16%) dayparts but additionally -- many thanks to the attractive margins on these having lunch meals and also resulting repeat web traffic -- improve its expense of products sold margin in the process.
14. Old restaurants are gaining a brand-new design. Though there"s nothing technically wrong through Buffalo Wild Wings" old look, the firm is actively remodeling older places to attribute its brand-new Stadia restaurant design. Finish with strategic seating and state-of-the-art sound and also video, Stadia aims to mimic the suffer a fan can have at an actual stadium. An unified with brand-new restaurant development, the company expects nearly 30% of all places to be Stadia through the end of 2015.
15. Buffalo Wild Wings has actually crushed the market because its IPO. Buffalo Wild wings priced its early public supplying at a split-adjusted $8.50 per share in Nov. 2003 and proceeded to skyrocket 35% in its first day the trading. But even if friend purchased after that initial pop, you would still be sit on a nearly 1,600% acquire on your original investment today. Through contrast, the S&P 500 has actually returned a respectable 135% over the exact same period.
The thing is, given all of these attractive facts, I"m convinced it"s no just possible but probable that Buffalo Wild wing will have the ability to continue trouncing the industry going forward. As the agency delivers on its long-term ambitions, i intend to continue holding mine shares because that the foreseeable future.
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