Rick Ross continues to make boss moves at every strategic turn. Not only is he the CEO of Maybach Music, he’s also the owner of nine Wingstop locations, which he franchised mostly in the South. Ross took to Instagram a few days ago to announce yet another Wingstop location in Montgomery, Alabama. His knack for business is especially strong and that’s what makes him “the biggest boss that you’ve seen thus far.”
Wingstop is a chain of chicken wing restaurants that stretch across the entire United States. Although there were many existing locations, Rick Ross’s endorsement of and investment in the franchise put Wingstop on the map once he expressed his love for their lemon pepper wings. In 2014, Ross was reported by Forbes to own nine Wingstop franchises and by August 2015, Tech Insider reported Ross owning 25 franchises.
Ross’s investments in Wingstop raked in about $7 million in 2014 and placed him on Forbes‘ list of Hip Hop Cash Kings for the sixth year in a row in 2014. “I just wanted it to be something,” Ross told Forbes. “The business just grew. It really grew. The community really came out, supported it, and showed us a lot of love.” Rick Ross opened his first Wingstop near Memphis, Tennessee. Each Wingstop rakes in about $200,000 per franchise in annual profit. Since Ross is a brand himself, he manages to increase monthly revenue by 50% as his own celebrity endorsement.
In order to open a Wingstop, you have to cash out having at least $600,000 in liquid assets and time to fill out a lengthy application and undergo a financial background check. Ross is no newbie to the process as he opens his new location in Montgomery, Alabama. Rick Ross, you are indeed a boss.