How to Finance a Dick’s Wings & Grill Franchise: Costs and Fees
By Chris Cornella
A Dick’s Wings & Grill franchise loan funds a full-service, family-friendly wing restaurant with a bar, a dining room and a large sauce-driven menu. Because these are sit-down restaurants with a full kitchen, a bar build-out and real estate or lease obligations, the financing package usually has to cover construction, equipment, opening costs and a working capital cushion, not just a franchise fee.
US Professional Funding is not affiliated with, sponsored by or endorsed by Dick’s Wings & Grill; the name is used only to describe the business. Figures from the franchisor’s disclosure document and public filings can change, loan programs and terms vary, and every loan is subject to approval. Nothing here is legal, tax or investment advice, so review the current Franchise Disclosure Document (FDD) and franchise agreement with a qualified franchise attorney and accountant.
Dick’s Wings & Grill Franchise Loan at a Glance
- Concept: full-service wing restaurant and bar serving Buffalo-style wings, burgers, sandwiches, salads and more, based in northeast Florida.
- Initial franchise fee: $35,000, according to the company’s 2021 public filing.
- Royalty: five percent of gross revenue, paid weekly.
- Advertising: at least two percent of gross revenue on local advertising, plus one to two percent to the general advertising fund.
- Initial investment: between $237,500 and $772,500 per restaurant, as described in the same filing.
- Restaurant size: typically 3,500 to 5,500 square feet.
- Franchise term: typically 10 years, with a 10-year renewal option.
- System size: 19 restaurants at the end of 2020, 16 franchised and three company-owned, in Florida, Georgia and Texas.
- SBA Franchise Directory: listed under code S0504, with no additional note.
What Is Dick’s Wings & Grill?
Dick’s Wings & Grill is a casual dining brand built around Buffalo, New York-style chicken wings spun in house sauces and seasonings. The company says its sauces and seasonings can be blended into more than 365 flavors, anchored by signature items such as Victory Lane Wings and its own hot sauces. The rest of the menu covers chicken tenders, quesadillas, specialty burgers and sandwiches, salads, wraps, flatbreads and desserts.
The brand’s tagline is “Wingin’ it since 1994,” and the company that owns and franchises the brand was formed in April 2000 to develop it. It is headquartered in the Jacksonville, Florida area, and its training program runs in Jacksonville.
Restaurant format. The company describes full-service restaurants of about 3,500 to 5,500 square feet, usually open daily from late morning into the evening, with later hours on weekends. Locations combine a dining room, a bar and a children’s area.
Why lenders view it the way they do. Dick’s Wings & Grill is a regional system with a long history in its home market, so a lender will lean less on brand recognition and more on the operator’s restaurant experience, the specific site and the cash flow projections.
Dick’s Wings & Grill Franchise Costs
The most recent detailed cost disclosure we could verify is the company’s 2021 public filing. Always request the current FDD, because fees, the investment range and the Item 7 assumptions may have changed since then.
Initial franchise fee. The filing describes a $35,000 initial franchise fee for a single restaurant. Under an area development agreement, the developer pays $35,000 for the first restaurant, a $15,000 area development fee for each additional restaurant, and a $30,000 fee for each later restaurant with a $15,000 credit applied from the development fee.
Real estate and build-out. Franchisees are responsible for their own real estate, whether that means leasing a second-generation restaurant space, building out a shell or buying a property.
Equipment, signage and furnishings. Franchisees fund the kitchen equipment, signs, seating and décor.
Opening costs and working capital. Inventory, training travel, hiring and pre-opening labor, licenses and an operating reserve round out the budget.
Total investment. The filing states that a restaurant requires an initial capital investment of between $237,500 and $772,500. The current Item 7 table will break that total into line items. Expect to see categories such as:
- Initial franchise fee
- Real estate, lease deposits and leasehold improvements
- Kitchen and bar equipment, furniture and fixtures
- Signage and décor
- Opening inventory and supplies
- Training expenses
- Additional funds for the initial operating period
Ask whether the range assumes a second-generation restaurant or new construction.
Ongoing Fees and How They Affect Your Loan
Royalty. The filing says franchisees pay a weekly royalty equal to five percent of gross revenue. Because it comes off the top line every week, lenders deduct it before measuring the cash available to service debt.
Advertising. Franchisees must spend at least two percent of gross revenue on local advertising and contribute between one and two percent to the general advertising fund.
Other obligations. Review Item 6 of the current FDD for technology, transfer, renewal and training fees, and Item 8 for any required suppliers.
How lenders factor it in. Underwriters apply the royalty and both advertising obligations to projected sales before occupancy, food and labor.
Franchisor Requirements for New Owners
The filing says the company evaluates candidates on their business background, restaurant management experience, net worth and capital. Specific minimum net worth and liquid capital figures were not available for us to verify, so confirm them with the franchise development team and in the FDD.
Training. Owners attend a training program in Jacksonville, Florida that lasts two to four weeks, must complete it before opening, and must hold a food safety certification.
Approval and transfers. The franchise agreement cannot be assigned without the company’s consent, and the company holds a right of first refusal on a proposed sale.
Ways to Own a Dick’s Wings & Grill
A new restaurant. Opening a new unit means financing the full build-out on projections rather than history. Our overview of restaurant start-up financing covers how these deals are structured.
Buying an existing restaurant. Because most locations are franchisee-owned, existing restaurants do change hands. A resale lets a lender underwrite actual sales and expenses. Read about buying a franchise resale before you make an offer.
Area development. Experienced operators can sign an area development agreement to open several restaurants on a schedule. Financing typically happens one restaurant at a time, with each new unit underwritten on the performance of those already open.
Financing Options for a Dick’s Wings & Grill Franchise
SBA 7(a) loans. Because the brand is listed on the SBA Franchise Directory, an SBA 7(a) loan is often the most flexible route. A 7(a) loan can combine the franchise fee, leasehold improvements, equipment, a business acquisition and working capital in one package.
SBA 504 loans. If you plan to buy or build the restaurant property, an SBA 504 loan can finance owner-occupied real estate and long-lived equipment with a long amortization.
Conventional term loans. Borrowers with strong liquidity, collateral and restaurant experience may qualify for a conventional business loan.
Equipment financing. Fryers, hoods and fire suppression, walk-in coolers and freezers, prep tables, draft beer systems, ice machines and point-of-sale terminals can be financed separately, which preserves cash for opening. See our options for restaurant equipment financing and leasing.
Working capital and lines of credit. Commodity swings, game-day volume and payroll during the ramp-up make a line of credit useful. Learn more about restaurant working capital.
Seller financing on resales. A selling franchisee may agree to carry part of the price. Any seller note is typically subordinate to the senior loan, and SBA rules may limit how it is structured or counted toward your equity.
SBA Loans for Dick’s Wings & Grill Franchisees
The SBA Franchise Directory lists brands whose franchise agreements have been reviewed for SBA eligibility. SBA lenders generally require a brand to be listed before they can make an SBA-guaranteed loan to one of its franchisees. A listing does not approve any borrower; it clears the franchise relationship for review.
The brand’s listing. Dick’s Wings & Grill appears under code S0504, with no additional note. In plain terms, no special addendum or carve-out is flagged for this brand, so the lender works from its normal SBA checklist and the current franchise documents.
Application tips. The SBA 7(a) program maximum is currently $5 million, though program rules can change. Bring the current FDD and franchise agreement, a signed or proposed lease, contractor bids, equipment quotes, a business plan with monthly projections, a personal financial statement, resumes and recent personal and business tax returns. Our SBA loan calculator can help with early payment estimates, which are for planning only.
How Lenders Evaluate a Dick’s Wings & Grill Deal
Personal credit and financial history. Expect a review of credit, tax returns and a personal financial statement, plus a personal guarantee. On a resale, add the restaurant’s profit and loss statements.
Net worth and liquidity. Lenders want to see cash for the equity injection plus reserves left over after closing.
Restaurant and management experience. Full-service experience with a bar is a strong plus. If you lack it, plan to hire an experienced general manager and explain that in the plan.
Business plan and projections. Model sales by daypart, game-day and weekend peaks, takeout share, food and beverage costs, labor, the royalty and both advertising obligations.
The FDD and franchise agreement. Lenders read the term, renewal, transfer and termination provisions closely. With a typical 10-year initial term, the remaining term matters on a resale. Our article on how lenders read an FDD explains what they look for.
Site and lease. The lease should run long enough to cover the loan, and the space should support a bar and full kitchen ventilation. Liquor license availability belongs in the site review.
Kitchen and Bar Equipment
Fryer capacity, hood and fire suppression, sauce stations, cold storage and the bar’s draft and cooling systems are the costliest items after construction, and they also serve as collateral. Get the current equipment package and written quotes before finalizing a Dick’s Wings & Grill franchise loan amount.
Multi-Unit Growth and Development Agreements
The area development structure lets an operator lock in a territory and lower per-unit fees on later restaurants. The trade-off is a development schedule; the company can terminate the agreement if restaurants are not opened on time. Before signing, map out how each restaurant will be financed. Our article on multi-unit franchise financing walks through that planning.
Real-World Scenarios
A restaurant manager opening a first unit. A general manager with years of full-service experience leases a former restaurant space with a usable hood and bar. An SBA 7(a) loan covers the franchise fee, renovations, equipment and working capital, keeping the build-out near the lower end of the range.
A buyer acquiring an established location. A buyer purchases a franchisee-owned restaurant. The lender underwrites the restaurant’s tax returns, adjusts for the new owner’s salary and rent, and finances the purchase with a 7(a) loan, while the company reviews the transfer and decides whether to exercise its right of first refusal.
An operator buying the building. An existing franchisee buys a freestanding property for a new restaurant and uses an SBA 504 loan for the land and building, with equipment financed separately.
Common Mistakes to Avoid
- Relying on old cost figures instead of the current FDD’s Item 7
- Leaving the local advertising requirement out of projections
- Underestimating bar, hood and fire suppression costs in a new space
- Signing a lease shorter than the loan term
- Signing a development schedule without a financing plan for each unit
- Opening with too little working capital for the ramp-up period
For more pitfalls, read the most common restaurant loan mistakes.
Next Steps to Finance Your Dick’s Wings & Grill Franchise
Step 1: Request the current FDD. Confirm the franchise fee, royalty, advertising obligations, Item 7 range and owner requirements.
Step 2: Review it with advisors. Have a franchise attorney and accountant review the FDD and franchise agreement.
Step 3: Check your capital. Total your liquid funds and net worth and compare them with the franchisor’s requirements and the equity a lender will expect.
Step 4: Talk with a financing specialist. Learn which Dick’s Wings & Grill franchise loan program fits a new build, a conversion or a resale before you commit to a site.
Step 5: Build the plan. Gather contractor bids, equipment quotes and a lease draft, and prepare monthly projections.
Step 6: Apply and coordinate approvals. Submit the loan package and keep the lender’s timeline aligned with the franchisor’s approval, the lease and the liquor license.
Dick’s Wings & Grill Franchise Loan FAQs
How much does a Dick’s Wings & Grill franchise cost?
The company’s 2021 public filing describes an initial capital investment of $237,500 to $772,500 per restaurant. Check the current FDD’s Item 7 for the latest range and line items.
What is the Dick’s Wings & Grill franchise fee?
The filing describes a $35,000 initial franchise fee. Area developers pay $35,000 for the first restaurant and reduced fees for later units.
What royalty does Dick’s Wings & Grill charge?
Five percent of gross revenue, paid weekly, plus at least two percent on local advertising and one to two percent to the general advertising fund.
Can I get an SBA Dick’s Wings & Grill franchise loan?
The brand is listed on the SBA Franchise Directory under code S0504, so SBA 7(a) and 504 financing are available to eligible borrowers, subject to lender approval.
How much liquid capital do I need?
The company evaluates net worth and capital but we could not verify a published minimum. Ask the franchise development team and plan for the equity injection, closing costs and reserves.
Can I buy an existing Dick’s Wings & Grill?
Yes, subject to the company’s consent and its right of first refusal. A Dick’s Wings & Grill franchise loan for a resale is often easier to approve because the lender can review actual results.
Can I finance the equipment separately?
Yes. Kitchen and bar equipment can be financed with equipment loans or leases.
How long is the franchise term?
The typical initial term is 10 years with a 10-year renewal option, according to the filing.
Does Dick’s Wings & Grill offer financing?
Check Item 10 of the current FDD for any franchisor financing. Most franchisees arrange their own loans.
Does the FDD include financial performance information?
Review Item 19 of the current FDD to see whether it includes financial performance representations. On a resale, rely on the restaurant’s actual financial statements.
Final Thoughts
A Dick’s Wings & Grill franchise loan is a full-service restaurant deal at heart. Buyers who confirm current costs in the FDD, model the royalty and advertising obligations honestly, secure a site that supports a bar and kitchen, and keep a solid working capital reserve give lenders the clearest path to yes.
US Professional Funding helps franchise owners and buyers finance start-ups, acquisitions, equipment and working capital. Learn more about our franchise financing programs and restaurant financing solutions.
