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Finger-licking profits: a franchise owner fulfills his entrepreneurial dream.


It's midnight and you're a hungry college student. Given the abundance of take-out Take-out

A cash surplus generated by the sale of one block of securities and the purchase of another, e.g., selling a block of bonds at 99 and buying another block at 95. Also, a bid made to a seller of a security that is designed (and generally agreed) to take the seller out of
 and delivery businesses around college campuses, food delivery options are generally plentiful. Unfortunately, redlining Identifying text that has been changed in a word processing document by displaying it in a special color, for example. It allows the original author of the text or other users to see ongoing revisions. The term comes from manual editing where a red pen is used to mark up the pages.  restricted delivery in predominately black neighborhoods.

Virgil Gordon II was a Fisk University Fisk University, at Nashville, Tenn.; coeducational; founded 1865, opened 1866, and chartered 1867. It became a university in 1967. Fisk, long an outstanding African-American school, is open to all qualified students.  undergraduate in the mid to late 90s and he never forgot the discrepancy DISCREPANCY. A difference between one thing and another, between one writing and another; a variance. (q.v.)
     2. Discrepancies are material and immaterial.
 in food delivery services. He knew he wanted to make a difference. Gordon grew up in an enterprising en·ter·pris·ing  
adj.
Showing initiative and willingness to undertake new projects: The enterprising children opened a lemonade stand.
 family and had acquired a number of properties--four while attending Fisk Fisk   , James 1834-1872.

American railroad financier and speculator who attempted in 1869 to corner the gold market with Jay Gould, leading to Black Friday, a day of nationwide financial panic.
, and two more after graduating. Well-invested in local real estate, he decided to research various franchising opportunities in the summer of 2003. He found a prospect that aligned perfectly with his goals and vision--a Wing Zone franchise.

Primarily a take-out and delivery enterprise (some locations do seat customers), Wing Zone is known for its fresh--never frozen--chicken wings and its 25 flavors of wing sauce. There are Wing Zone franchises in 25 states. Gordon became attracted to the franchise because of its established brand, its focus on delivery services, and its combination of progressive expansion without the market saturation In economics, "market saturation" is a term used to describe a situation in which a product has become diffused (distributed) within a market; the actual level of saturation can depend on consumer purchasing power; as well as competition, prices, and technology.  of other better-known franchises. Gordon says Wing Zone offered the whole package--a unique and varied menu, a new franchise concept, and in-depth technical support and training.

Gordon personally financed his Wing Zone franchise with $170,000 of his personal savings--twice the liquid capital required. Within three months of his investment, his first Nashville location opened in September 2004 and eventually grossed $660,000 in annual sales. His second Nashville location opened a year later and is expected to gross more than $700,000. His third Nashville location is slated to open in the summer of 2006.

Gordon attributes much of his success to Wing Zone's corporate culture of open communication, which includes daily e-mails from its Atlanta headquarters seeking feedback on new products and vendor relations, an intranet with how-to guides, and a discussion board that connects him to other Wing Zone franchisees. Says Gordon, "I have the cell phone numbers of all the corporate executives and get a response within 24 hours."

Prospective Wing Zone franchisees submit an inquiry through the company Website that identifies the prospect's location preference, time frame to purchase a site, and business experience. Wing Zone franchisees must possess excellent interpersonal and financial management skills. Prior experience in a restaurant setting is also helpful. Potential franchisees also must have a net worth of $150,000, with $60,000 to $75,000 in liquid assets Cash, or property immediately convertible to cash, such as Securities, notes, life insurance policies with cash surrender values, U.S. savings bonds, or an account receivable. .

If you are interested in opening a Wing Zone location, visit www.wingzone.com for additional information and to submit a preliminary application.
COPYRIGHT 2006 Earl G. Graves Publishing Co., Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Author:Franklin, Lisa D.
Publication:Black Enterprise
Geographic Code:1USA
Date:Mar 1, 2006
Words:432
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