Rick Ross is a renowned rapper, record label owner, and businessman who was born William Leonard Roberts II on January 28, 1976. If you’re a fan of Rick Ross’s music, you know he’s highly motivated to make money through his numerous business ventures.
Ross’s rap lyrics reflect the reality of his entrepreneurial endeavors that include a record label and multiple restaurant franchises, primarily Wingstop. Ross has an estimated net worth of $55 million and grossed a reported $90 million during the course of his career.
In this post, I evaluate Rick Ross’s current business interests to find out what we can all learn from the his investing strategy.
How Many Wingstop Units Does Rick Ross Own?
Rick Ross has been a fan of Wingstop for more than a decade. Ross appeared on the song “Trap Boomin'” for Atlanta rapper Gucci Mane’s 2012 compilation album where he expressed appreciation for the companies chicken wings. On the track, Ross mention claimed his favorite seasoning was lemon pepper and boasted ownership of 20 Wingstop locations.
If you’re a fan of Ross’s music, you might already know this wasn’t the first or only occasion the musician referenced Wingstop in a song. The discography of Ross and his social media accounts are filled with regular references to the wing franchise. The corporate office of Wingstop even mentioned collaborating with Rozay in numerous official press releases for the company.
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Rick Ross is listed as the owner of Boss Wings Enterprises LLC in Mississippi, along with his mother Tommie Roberts, and sister Tawanda Roberts. According to reports, the Miami rapper supposedly runs close to 30 Wingstop locations around the country and frequently touts Wingstop in his songs.
Antonio Swad established Wingstop in 1994 in Garland, Texas. By 2002, the company stated to have sold two million wings since the first franchised outlet opened its doors in 1997. Wingstop started serving lunch in 2005 and introduced its boneless offering in 2009.
With the opening of its inaugural international restaurant in Mexico in 2010, Wingstop expanded internationally. Nine countries currently host their operations. According to system-wide revenues and unit growth data between 2014 and 2016, Wingstop was the third-fastest expanding restaurant chain in the US. Based on growth metrics like this, it’s safe to say Ross made a prudent investment in the franchise.
What Are The Financial Requirements To Own A Wingstop?
Official website of Wingstop.
In order for business owners in the restaurant sector to be successful, they must have a unique product, the assistance of seasoned specialists, room for expansion, and a distinctive brand. Over the past decade, Wingstop has emerged as one of the most popular franchise ideas that fits this unique criteria. Wingstop has developed a franchise consistently ranked among the finest in the dining and franchise industries from site appraisal through training to day-to-day operations and marketing assistance of each store.
A baseline net worth of $1,200,000 is required to become a Wingstop franchisee, from which $600,000 must be liquid. Additionally, a franchise undertaking must have at least three stores. Depending on the assessment of the market, certain markets have a greater minimum. Wingstop likewise seeks management or industry experience in multi-unit restaurants.
Here are the startup costs for the business and the recurring costs that the franchisor will charge you throughout the course of the operation. These are estimates based on publicly available FDD documents.
Type of Fee
|Business Operating Permits
|Architect and Engineering Fees
|Opening Publicity and Promotions
|Furniture, Fixtures, Audio/Visual System, Equipment and Smallwares
|Point of Sale Register, Back Office, Hardware and Software
|Additional Funds – 3 Months
|Total (excluding real estate purchase and lease costs.)
Options and other fees that are available to prospective franchisees include the following:
|Ad Royalty Fee
||Via 3rd party
|Number of employees required to run
|Are exclusive territories available?
More than 1,200 Wingstop establishments can be found throughout the United States and in other territories. There are more than 980 franchises among their more than 1,300 locations worldwide. The very first franchising opportunities were offered by Wingstop in 1997.
As per Wingstop, franchises outperform the industry as a whole in terms of sales per square foot with an average location making roughly $1.25 million in yearly revenue. With single store gross revenue numbers like this it’s no wonder Ross decided to invest in so many locations.
Does Rick Ross Own A Checkers And Rally’s Restaurant?
Rick Ross announced his intentions to work with Checkers and Rally’s in September 2016, including his intention to acquire a franchise location. Early in 2017, he set up shop in Miami with his first franchise. It is not stated how many Checkers & Rally’s franchises Rick Ross owns at this time.
In order to purchase multiple Checkers & Rally’s franchises in the Greater Miami area and his hometown, surrounding Carol City, Florida, hip-hop singer and businessman Rick Ross partnered with Checkers Drive-In Restaurants. As the proprietor of a Checkers restaurant he used to regularly visit as a teenager, where he once worked at a carwash on the other side of the street, the artist and businessman assumed center stage as a unifying force of his local neighborhood.
Ross and Checkers & Rally’s produced a short documentary regarding his close relationship with Checkers and journey as a “Fast Foodie” in partnership with Atlanta agencies Fitzgerald & Co and Woven. This follows the story about what the brand represented to him and his friends coming of age—immense, audacious flavors at a fantastic value. This project was a public example of the Checkers and Ross business and PR ties.
How Many Businesses Does Rick Ross Own Total?
There’s a justification for why Rick Ross is known as “The Boss.” The native of Florida has interests outside of music, despite the fact that he has been earning money through his songs. Along with Jay Z, Diddy, and Master P, Rozay is one of the few and most well-known businesspeople in hip-hop, but his business endeavors should not be disregarded. The following is a summary of “The Boss” business interests in the music industry and beyond.
25 Wingstop locations are proudly owned by Rick Ross throughout the country. Sales from these establishments bring him in at $200,000 annually. His venture in his Wingstop company brought in $7 million in 2014.
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MMG – Maybach Music Group
The Maybach Music Group was launched in 2008 and was founded by Rick Ross. In Miami, Florida, there is a record label. Meek Mill, Wale, Gunplay, Torch, Omarion, and many other popular musicians are all part of the MMG label. Albums from Ross Records are distributed by Atlantic Records.
The record label has produced 19 solo albums, three compilation albums, five Gold-certified albums, and seven albums that debuted at the top of the Billboard 200.
Reebok and Rick Ross agreed to an endorsement contract. Swizz Beatz and Rick Ross had discussed collaborating to create a line of clothing for Big and Tall guys under the umbrella of sporting gear prior to their agreement with Reebok. Swizz’s recently released Bally Kicks were co-signed by MMG’s Rick Ross in 2017.
Belaire Rose Champagne
Among the key ambassadors for the company is Rick Ross. Niaz, a subsidiary of sovereign Brands with headquarters in New York, owns the trademark. You may see the black bottles in music videos and on Rick Ross’ Instagram page.
The self-proclaimed biggest boss Rick Ross.
To showcase 1800 Tequila’s select silver, The Boss and his team joined forces with the tequila company. By vocally praising particular silver, they acted as brand representatives for the beverage. Prior to the Tequila partnership, Rozay was clinking Belaire Rosé and Sean “Diddy” Combs Ciroc Vodka bottles.
MMG is about more than just music labels. To make movies, Rick Ross founded Maybach Films, and Ross is eagerly anticipating the first film’s theatrical release.
Rick Ross and Sean “Puffy” Combs Collaboration
The same corporate philosophy drives Diddy and Rick Ross, and that is to maximize revenue. The sixth studio album by Rick Ross, Mastermind, was co-executive produced by Puff.
Numerous artists, including Meek Mill, Jay Z, The Weeknd, Jeezy, Sizzla, Lil Wayne, Z-Ro, Mavado, French Montana, Kanye West, Scarface, and Big Sean are featured on the mastermind album.
For the brand-new 33 Hi, Rick Ross and Ewing Athletics worked closely together to create high-end footwear. The 33 Hi features the MMG logo at the heels and is created to suit Rozay’s opulent taste.
Beard Grooming Product By Rick Hair Care
The entrepreneur teamed up with Rich hair care products to launch his range of opulent beard products. At the beginning of 2018, Ross released beard grooming products from Rich Hair Care. Both the Rich Hair Care website and Sally Beauty shops sell the goods. There are numerous oils, shampoos, and skin treatments available from Rich Hair Care.
Evander Holyfield’s 235-acre Charity Home
The $5.8 million home that the MMG chief paid for the boxer was later made available to the general public for charitable purposes. The 235-acre facility has 109 rooms, an indoor swimming pool, a theater, an outdoor swimming pool, and other amenities. Georgia estate is where it is located.
Checkers & Rally’s
As mentioned earlier in this article, Rozay owns a number of Checkers & Rally’s restaurants. Ross saved money from a job washing cars so that he could frequently eat at Checkers, and now his childhood ambition of owning Checkers & Rally’s franchises has come true. I want Checkers, he declares in the music video, because of his success in the music industry, which enables him to essentially have anything he desires.
The Boss also purchased the Checkers location directly in front of Miami Carol City Senior High School, his former school, and the place where he played with the school’s football squad. He claimed that his affinity for football and Checkers was what helped him get through his difficult early years.
Rolling Stone Column
“Ask A Boss With Rick Ross” is the column for you if you want to know the key to success or if you are having relationship problems. The recently certified life coach will provide you with all the information you need in a future edition of Rolling Stone.
Over the years, Rick Ross has collaborated with JetDoc on multiple occasions and has an excellent working partnership with them. In order to give millions of Georgians access to affordable healthcare, he initially teamed with the business. He then joined forces with Tommy Duncan, CEO of JetDoc, to promise $1 million in Georgians’ free medical visits.
These are just about half of the reported nearly a dozen business interests of Rick Ross. He also has business ventures in cannabis, NFTs and Cryptocurrency, real estate, and a rumored sports team investment (believed to be the championship NBA team, Miami Heat). In an interview, “The Boss” said that he intends to be as “Big” if not bigger than Elon Musk, the world’s richest man and current CEO of Tesla.
How Much Does Rick Ross Make From His Businesses?
Spanning more than two decades in the music industry, grabbing many awards on his way, and almost two dozen business ventures, it’s really envy to be Rick Ross.
As of 2022, Rick Ross’s net worth is presumed to be a whopping $55 million. The MMG CEO worked really hard to achieve these results and the wealth isn’t something that transpired overnight. Ross one of the rare hip-hop musicians that’s devoted multiple decades to commercial endeavors and music career.
As a side note, Ross has one of the most valuable car collections in the music business belongs to Rick Ross. Ross has more than 100 vehicles from luxury brands like Mercedes, Porsche, Lamborghini, and Lexus. Follow Ross’s social media accounts for regular photos of him flexing in front of sports cars and decked out SUVs.
Why Does Rick Ross Invest In So Many Restaurants?
There are no indicators of any given reason why Rick Ross invests in so many restaurants. However, I have been able to pick up some easter eggs by tuning into a half-dozen of his interviews. In an interview with Complex, he mentioned that whenever he eats at Wingstop, he still feels like the first time he had it. This may indicate the rapper’s affinity for food. In his short documentary with Checkers & Rally’s, he attested to his journey as a “Fast-Foodie”.
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Ross also once mentioned that one of the reasons he bought Checkers & Rally’s is to provide jobs and invest back into the community. By providing jobs in the community he grew up, Ross is able to provide financial opportunities to the African American community.
Ross was born in Clarksdale, Mississippi, but raised in Carol City, Florida. Ross attended Albany State University on a football scholarship following his graduation from Miami Carol City Senior High School. Between December 1995 and June 1997, Roberts even spent 18 months working as a correctional officer.
Following his early success and popularity as a rapper and label boss (his Maybach Music Group (MMG) launched the careers of Meek Mill, Gunplay, and Wale), Ross shifted his focus to a number of business endeavors. I will continue following Ross’s career and can’t wait to see what the boss invests in next.