Buffalo Wild Wings 2005 Annual Report Download - page 9

PART I
ITEM 1. BUSINESS
GENERAL
References in this document to "Buffalo Wild Wings," "company," "we," "us"
and "our" refer to the business of Buffalo Wild Wings, Inc. and our
subsidiaries. We maintain an Internet website address at
www.buffalowildwings.com. We make available free of charge through our website
our annual report on Form 10−K, quarterly reports on Form 10−Q, current reports
on Form 8−K, and all amendments to those reports as soon as they are reasonably
available after these materials are electronically filed with or furnished to
the Securities and Exchange Commission, or SEC.
We are an established and growing owner, operator and franchisor of
restaurants featuring a variety of boldly flavored, made−to−order menu items
including our Buffalo, New York−style chicken wings spun in any of our signature
sauces. Our restaurants create an inviting neighborhood atmosphere that includes
an extensive multi−media system, a full bar and an open layout, which appeals to
sports fans and families alike. Our concept offers elements of the quick casual
and casual dining restaurant concepts featuring a flexible service model that
allows our guests to choose among convenient dining options such as quick casual
counter service, casual dining table service or take−out. Our award−winning food
and inviting atmosphere, combined with our guests' ability to customize their
dining experience, drives guest visits and loyalty.
The widespread appeal of our concept establishes our restaurants as a
neighborhood destination with 370 restaurants in 35 states as of December 25,
2005. Our menu, competitively priced between the quick casual and casual dining
segments, features fresh chicken wings and other items including boneless wings,
chicken tenders, popcorn shrimp, specialty hamburgers and sandwiches, wraps,
Buffalito(R) soft tacos, appetizers and salads. Our made−to−order menu items are
enhanced by the bold flavor profile of our signature sauces, ranging from mild
Teriyaki(TM) to Blazin'(R). Our restaurants serve approximately 20 domestic and
imported beers on tap, including several local or regional micro−brews and a
wide selection of bottled beers, wines, and liquor. The inviting and energetic
environment of our restaurants is complemented by furnishings that can be easily
rearranged to accommodate parties of various sizes. Our guests have the option
of watching sporting events or other popular programs on our projection screens
and up to 40 additional televisions, playing Buzztime(R) Trivia or video games.
The open layout of our restaurants offers dining and bar areas that provide
distinct seating choices for sports fans and families. Our unique service model,
providing the flexibility of ordering at the counter or table, allows our guests
to customize their Buffalo Wild Wings(R) experience to meet the different time
demands or service preferences of a workday lunch, a dine−in dinner, a take−out
meal, an afternoon or evening enjoying a sporting event or a late−night craving.
We have established our brand through coordinated marketing and
operational execution that ensures brand recognition and the quality and
consistency of our concept. These efforts include marketing programs and
irreverent, award−winning advertising to support both our company−owned and
franchised restaurants. We also prominently feature our trademark Buffalo
insignia and yellow and black colors in our restaurants and brand our company
materials. Our concept is further strengthened by our emphasis on operational
excellence supported by stringent operating guidelines and comprehensive
employee training in both company−owned and franchised restaurants.
Buffalo Wild Wings was founded in 1982 by Jim Disbrow and Scott Lowery at
a location near The Ohio State University. Our original name was Buffalo Wild
Wings & Weck(R) and we became more popularly known as bw−3(R). In 1991, we began
our franchising program. In November 2003, we completed an initial public
offering and became a publicly held company.
OUR CONCEPT AND BUSINESS STRATEGY
Our goal is to continue to grow and develop the Buffalo Wild Wings(R)
Grill & Bar concept into a leading national restaurant chain. To do so, we plan
to execute the following strategies:
o Open restaurants in new and existing markets;
o Offer boldly−flavored menu items with broad appeal;
o Create an inviting, neighborhood atmosphere;
o Enable our guests to customize their dining experience;
o Continue to strengthen the Buffalo Wild Wings brand;
o Focus on operational excellence;
o Increase same−store sales and average unit volumes.