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Wing It On!

WIO Franchising LLC
https://www.wingiton.com
1-847-608-8500
755 Schneider Drive, South Elgin, Illinois 60177
FDD Version:

How much does Wing It On! cost?

Initial Investment Range

$218,900 to $1,399,999

Franchise Fee

$35,000 to $94,000

As a Wing It On!® franchisee, you will operate a quick service restaurant brand serving a wide variety of chicken wings, chicken sandwiches and other menu items.

Enjoy our partial free risk analysis below

Unlock the full risk analysis to access 9 more categories covering 100+ risks.

Wing It On! May 14, 2025 FDD Risk Analysis

Free FDD Library AI Analysis Date: August 22, 2025

DISCLAIMER: Not Legal Advice - For Informational Purposes Only. Consult With Qualified Franchise Professionals.

1

Franchisor Stability Risks

Start Here
Total: 10
4
3
3

Disclosure of Franchisor's Financial Instability

High Risk

Explanation

The franchisor, WIO Franchising LLC (WIO), is a new entity formed in 2023. While its 2024 audited financials show positive net equity, its opening 2024 balance sheet showed negative equity. More concerningly, the unaudited interim balance sheet for Q1 2025 shows substantial negative current assets, primarily due to large amounts owed to affiliates. This signals a heavy reliance on inter-company financing and raises questions about WIO's standalone financial stability and ability to support you.

Potential Mitigations

  • An experienced franchise accountant must review all financial statements, including footnotes and the concerning interim statements, to assess cash flow and solvency.
  • Discuss the franchisor's capitalization and reliance on affiliate loans with your financial advisor to understand the underlying financial health.
  • Your attorney should inquire about any parent company guarantees or other financial assurances for the franchisor's obligations.
Citations: Item 21, Exhibit B

High Franchisee Turnover

High Risk

Explanation

The FDD discloses a concerningly high rate of franchisee turnover. In the last two years, five out of a starting base of twelve franchised outlets have ceased operations, been reacquired by the franchisor, or terminated. This represents a churn rate of over 40% in two years. Such a high number of units leaving the system is a significant red flag that may indicate potential issues with the business model's profitability, franchisor support, or franchisee satisfaction.

Potential Mitigations

  • It is critical to contact a significant number of the former franchisees listed in Item 20 to understand their reasons for leaving the system.
  • A thorough analysis of the Item 20 tables with your accountant is necessary to calculate the precise turnover rate and identify trends.
  • Your attorney can help you formulate specific questions for the franchisor regarding the high rate of unit cessations and re-acquisitions.
Citations: Item 20

Rapid System Growth

Low Risk

Explanation

This risk was not identified in the FDD Package. Rapid system growth can strain a franchisor's resources, potentially leading to inadequate support for franchisees. It is a risk to monitor, especially for newer systems, to ensure support infrastructure keeps pace with unit expansion.

Potential Mitigations

  • A business advisor can help you evaluate a franchisor's growth plans against its stated support capabilities and financial resources.
  • Inquiring with existing franchisees about the current quality and responsiveness of franchisor support is a valuable due diligence step.
  • Your accountant should review the franchisor's financial statements to assess if they have the capital to support continued growth.
Citations: Item 20, Item 21

New/Unproven Franchise System

High Risk

Explanation

The franchisor, WIO Franchising LLC (WIO), is a very new entity, formed in January 2023 after acquiring the assets from a predecessor. The system itself is young, and the limited operating history and high franchisee turnover disclosed in Item 20 increase your investment risk. You will be an early adopter in a system that is still evolving under new ownership, which can lead to uncertainty in support, brand recognition, and operational stability.

Potential Mitigations

  • Speaking with the earliest franchisees in the system is crucial for understanding the brand's evolution and the franchisor's performance.
  • A business advisor can help you perform enhanced due diligence on the management team's specific experience in both this industry and in franchising.
  • Your attorney might be able to negotiate more favorable terms to compensate for the higher risks associated with an unproven system.
Citations: Item 1, Item 2, Item 20, Item 21

Possible Fad Business

Low Risk

Explanation

This risk was not identified in the FDD Package. Some franchise concepts are based on temporary trends or fads, which can create significant long-term risk for a franchisee who is locked into a multi-year agreement. A business model's sustainability beyond current popularity is a crucial factor for long-term success.

Potential Mitigations

  • It is wise to research the industry's long-term market trends with a business advisor to assess the sustainability of the core product or service.
  • Evaluating the franchisor's plans for product innovation and adaptation can provide insight into their strategy for long-term relevance.
  • A financial advisor can help you consider the business model's resilience to shifts in consumer taste and economic downturns.
Citations: Item 1

Inexperienced Management

Medium Risk

Explanation

While much of the management team appears to have restaurant industry experience, the franchisor entity itself is very new (formed in 2023). Additionally, Item 4 discloses that a current officer, Christopher Gumprecht, was a Vice President at Roti Restaurants, LLC when it filed for bankruptcy in 2024. While not a bankruptcy of the franchisor, this prior association for a key executive warrants consideration when evaluating the management team's track record.

Potential Mitigations

  • A thorough vetting of the management team's background, especially their experience managing franchise systems, should be conducted with your business advisor.
  • Inquiring with current franchisees about their direct experiences with the management team's competence and support is essential.
  • Your attorney can help you formulate questions for the franchisor about the management team's strategy and past business challenges.
Citations: Item 2, Item 4

Private Equity Ownership

Medium Risk

Explanation

The franchisor, WIO Franchising LLC (WIO), is part of the Craveworthy Brands portfolio, which appears to be a multi-brand holding company. While not explicitly identified as a traditional private equity firm, this structure can present similar risks. Decisions may prioritize the portfolio's overall financial returns over the long-term health of a single brand, potentially affecting support levels, fee structures, and the strategic direction of the franchise system you are investing in.

Potential Mitigations

  • Investigating the ownership structure and track record of Craveworthy Brands with its other franchise concepts is a key due diligence step.
  • Consulting with your attorney is important to understand the franchisor's right to sell or assign the brand and its implications for you.
  • Discussing any changes in support or strategy since the acquisition with existing franchisees can provide valuable insight.
Citations: Item 1, Item 2

Non-Disclosure of Parent Company

Low Risk

Explanation

This risk was not identified in the FDD Package. Franchisors must disclose parent companies. When a franchisor is a small subsidiary of a larger parent, the parent's financial health can be critical. A failure to disclose the parent or provide its financial statements when required can hide financial instability or a lack of real support for the franchisor entity.

Potential Mitigations

  • Should you suspect an undisclosed parent company, your attorney can help investigate the corporate structure.
  • An accountant's review is vital to ensure that if a parent company's financials are required, they are provided and analyzed.
  • Your attorney should verify if any guarantees from a parent company are offered and what level of protection they actually provide.
Citations: Item 1, Item 21

Predecessor History Issues

Medium Risk

Explanation

The franchisor, WIO Franchising LLC (WIO), acquired the assets from a predecessor, WIO Franchising, Inc., in January 2023. While the FDD discloses this transfer, you are investing in a system under new ownership. The performance and franchisee relationships under the predecessor may not be indicative of your future experience with the current management and their new strategies.

Potential Mitigations

  • It is important to discuss the transition and any changes in operations or support with franchisees who have experience under both the predecessor and current ownership.
  • Your attorney should carefully review the asset purchase details to understand what liabilities, if any, were assumed by the new franchisor.
  • A business advisor can help you evaluate how the new ownership's strategy might differ from the predecessor's and the potential impact on your business.
Citations: Item 1

Pattern of Litigation

High Risk

Explanation

The franchisor's affiliate, BC Licensing, LLC, and one of WIO's officers, Joshua Halpern, are involved in pending litigation. The case includes a counterclaim from a former franchisee alleging fraudulent and negligent misrepresentation regarding marketing support, cost of goods, and other key areas. Allegations of fraud, even against an affiliate and officer, are a significant concern as they may suggest potential issues with the sales and disclosure practices within the broader parent organization.

Potential Mitigations

  • A detailed review of the specific allegations in the Item 3 litigation with your franchise attorney is essential to understand the potential risks.
  • Your attorney can help you conduct independent research on the case to learn more about its substance and current status.
  • Treating allegations of misrepresentation within the parent company's brand portfolio as a serious red flag is a prudent step in your due diligence.
Citations: Item 3
2

Disclosure & Representation Risks

Total: 15
5
3
7

Example Risk: Franchisee Financial Obligations

Blue Risk

Explanation

This risk involves the financial obligations that a franchisee must meet, including initial fees, ongoing royalties, and other required payments. Understanding these obligations is crucial for long-term success.

Potential Mitigations

  • Carefully review the Franchise Disclosure Document (FDD) and consult with a franchise attorney to fully understand all financial commitments before signing.
  • Conduct regular risk assessments
  • Implement monitoring and reporting systems

Unlock Full Risk Analysis

Purchase the complete risk review to see all 102 risks across all 10 categories.

3

Financial & Fee Risks

Total: 10
2
6
2

Example Risk: Franchisee Financial Obligations

Blue Risk

Explanation

This risk involves the financial obligations that a franchisee must meet, including initial fees, ongoing royalties, and other required payments. Understanding these obligations is crucial for long-term success.

Potential Mitigations

  • Carefully review the Franchise Disclosure Document (FDD) and consult with a franchise attorney to fully understand all financial commitments before signing.
  • Conduct regular risk assessments
  • Implement monitoring and reporting systems

Unlock Full Risk Analysis

Purchase the complete risk review to see all 102 risks across all 10 categories.

4

Legal & Contract Risks

Total: 16
7
5
4

Example Risk: Franchisee Financial Obligations

Blue Risk

Explanation

This risk involves the financial obligations that a franchisee must meet, including initial fees, ongoing royalties, and other required payments. Understanding these obligations is crucial for long-term success.

Potential Mitigations

  • Carefully review the Franchise Disclosure Document (FDD) and consult with a franchise attorney to fully understand all financial commitments before signing.
  • Conduct regular risk assessments
  • Implement monitoring and reporting systems

Unlock Full Risk Analysis

Purchase the complete risk review to see all 102 risks across all 10 categories.

5

Territory & Competition Risks

Total: 5
3
2
0

Example Risk: Franchisee Financial Obligations

Blue Risk

Explanation

This risk involves the financial obligations that a franchisee must meet, including initial fees, ongoing royalties, and other required payments. Understanding these obligations is crucial for long-term success.

Potential Mitigations

  • Carefully review the Franchise Disclosure Document (FDD) and consult with a franchise attorney to fully understand all financial commitments before signing.
  • Conduct regular risk assessments
  • Implement monitoring and reporting systems

Unlock Full Risk Analysis

Purchase the complete risk review to see all 102 risks across all 10 categories.

6

Regulatory & Compliance Risks

Total: 10
4
2
4

Example Risk: Franchisee Financial Obligations

Blue Risk

Explanation

This risk involves the financial obligations that a franchisee must meet, including initial fees, ongoing royalties, and other required payments. Understanding these obligations is crucial for long-term success.

Potential Mitigations

  • Carefully review the Franchise Disclosure Document (FDD) and consult with a franchise attorney to fully understand all financial commitments before signing.
  • Conduct regular risk assessments
  • Implement monitoring and reporting systems

Unlock Full Risk Analysis

Purchase the complete risk review to see all 102 risks across all 10 categories.

7

Franchisor Support Risks

Total: 4
2
2
0

Example Risk: Franchisee Financial Obligations

Blue Risk

Explanation

This risk involves the financial obligations that a franchisee must meet, including initial fees, ongoing royalties, and other required payments. Understanding these obligations is crucial for long-term success.

Potential Mitigations

  • Carefully review the Franchise Disclosure Document (FDD) and consult with a franchise attorney to fully understand all financial commitments before signing.
  • Conduct regular risk assessments
  • Implement monitoring and reporting systems

Unlock Full Risk Analysis

Purchase the complete risk review to see all 102 risks across all 10 categories.

8

Operational Control Risks

Total: 12
4
7
1

Example Risk: Franchisee Financial Obligations

Blue Risk

Explanation

This risk involves the financial obligations that a franchisee must meet, including initial fees, ongoing royalties, and other required payments. Understanding these obligations is crucial for long-term success.

Potential Mitigations

  • Carefully review the Franchise Disclosure Document (FDD) and consult with a franchise attorney to fully understand all financial commitments before signing.
  • Conduct regular risk assessments
  • Implement monitoring and reporting systems

Unlock Full Risk Analysis

Purchase the complete risk review to see all 102 risks across all 10 categories.

9

Term & Exit Risks

Total: 18
7
10
1

Example Risk: Franchisee Financial Obligations

Blue Risk

Explanation

This risk involves the financial obligations that a franchisee must meet, including initial fees, ongoing royalties, and other required payments. Understanding these obligations is crucial for long-term success.

Potential Mitigations

  • Carefully review the Franchise Disclosure Document (FDD) and consult with a franchise attorney to fully understand all financial commitments before signing.
  • Conduct regular risk assessments
  • Implement monitoring and reporting systems

Unlock Full Risk Analysis

Purchase the complete risk review to see all 102 risks across all 10 categories.

10

Miscellaneous Risks

Total: 2
1
1
0

Example Risk: Franchisee Financial Obligations

Blue Risk

Explanation

This risk involves the financial obligations that a franchisee must meet, including initial fees, ongoing royalties, and other required payments. Understanding these obligations is crucial for long-term success.

Potential Mitigations

  • Carefully review the Franchise Disclosure Document (FDD) and consult with a franchise attorney to fully understand all financial commitments before signing.
  • Conduct regular risk assessments
  • Implement monitoring and reporting systems

Unlock Full Risk Analysis

Purchase the complete risk review to see all 102 risks across all 10 categories.