TL;DR
Wings and Rings now accepts bitcoin as a payment option for potential franchisees, offering an alternative to the traditional $40,000 cash payment. The 85-unit chain is one of the first restaurant brands to sell franchises for bitcoin payment.
Wing and Rings now offers potential franchisees a few different options for purchasing their own store. Restaurant Business reports buyers can do it the old-fashioned way by paying $40,000 in cash or by tapping into their digital wallet and paying 1.05 bitcoins (the going exchange rate as of 2/20/2022). Wings and Rings views the bitcoin option as a way to get its feet wet in the fast-growing world of cryptocurrency or digital money.
“In the spirit of that evolution and embracing what the world of tomorrow brings today, we wanted to start wading into the waters and accepting bitcoin,” said Thomas Flaherty , Wings and Rings’ Chief Development Officer.
The 85-unit, Cincinnati-based chain is one of the first restaurant brands to sell franchises for bitcoin payment. This move is a part of an overall brand refresh that includes a new name and looks and a greater focus on technology, including a new POS system, app, and tech-forward prototype. Flaherty also did not rule out Wings and Rings one day accepting bitcoin payments from customers or using it to pay employees.
In this story
This story was originally published in 1851 Franchise on February 23, 2022. Burnaze summarizes and links to the original reporting.
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