Wawa is a famous gas station and convenience store founded back in the 19th century. The company was founded in Pennsylvania and has subsequently expanded to multiple locations. It sells products like beverages and food at a very reasonable price. Wawa stock is not publicly traded; since Wawa is a privately held firm, you won’t be able to buy Wawa shares. However, there is an exception for Wawa employees, they can buy the shares through the Wawa employee stock option plan (ESOP) but they cannot sell their shares in any private market to earn cash.
Wawa Stock Price
The price of Wawa stock has surged with time; it used to be $900 per share but today it has increased to $1400 per year. The employee who bought the shares back in the early days has earned a hefty amount of profit on their stocks.
Wawa Employee Stock Option Plan
There are around 38,000 employees currently working at Wawa. People working at Wawa own 40% of the company’s stock through the ESOP plan. At this time more than 20,000 employees own the stock in the company through this plan. Employees at Wawa must first be eligible to buy shares. The criteria for an employee to be a part of an Employee Stock Option plan are:
- The employee should be 18 years old
- The employee must have worked at least 12 months in the company
- The employee must have worked at least 10,000 hours annually
The Reason behind Wawa’s Success
Wawa initially started as a dairy product company back in 1803 but the profit margins were decreasing that is when it was converted into a convenience store ever since then the odds have been in its favor. Wawa believes in sharing a bond with its employees by offering them shares through ESOP and by taking care of its employees. There are numerous benefits for its employees and customers which are mentioned below:
Employee benefits:
- Employees have been offered the ESOP
- All the necessary medical aids are provided
- Retirement benefits
- A scholarship program is offered for college education
- Employees are given a paid leave
Customer benefits:
- Proper seating arrangement for customers
- On Tuesdays, there is free coffee for all its customers
- Customers are offered free ATM services
- A touch screen station for ease of customers to order
- A mobile app with advanced features
- Fresh market with the best food is available at stores
Wawa’s Estimated Net worth and Revenue
Wawa has been evolving ever since it was found. That being said the net worth of Wawa is around $2 billion according to Inquirer. The revenue generated from Wawa stock was around $11 billion back in 2020. This shows how it has been a huge success in expanding its convenience store chain to places like Washington, Virginia, Maryland, and many more.
Potential of Publicly Trading Wawa Stock
Ever since it was founded back in 1964, people started wondering if its stocks will ever go public, unfortunately, it doesn’t seem like so. Wawa believes that selling stocks to its employees only represents the bedrock of its culture and long-term success. The wood family owns a majority of the Wawa stocks, they want to take control of the company which is the reason why they do not want to trade its stocks publicly. If they ever wish to expand at a global level then they might issue initial public offerings but as of now, there is no certainty that Wawa will go public anytime soon.
Wawa Competitors
You might be thinking that since it is not publicly traded, it will not have any competitors but let me correct you here, Wawa has ample competitors in the market to compete on Robinhood starting with 7-11, Casey’s General Store, Marathon Petroleum Corp, Hess Corp, etc.
Conclusion
In short, Wawa is prospering in its industry intending to look out for its employee but so far there is no hope for other retail investors or the public to invest in Wawa’s stock.
Frequently Asked Questions
Q-1 Does Wawa has a symbol?
No, Wawa does not have any symbol because it’s not yet publicly offered. Although there are good considerations in hand for its symbol like WAWA, WWA, etc.
Q-2 Who owns Wawa?
A popular Wild Goose Holding co owns Wawa as of now but the CEO of the company is Chris Gheysens. The founder of the company is Grahame wood.
Q-3 What is the location of Wawas corporate headquarters?
Wawa has emerged in different cities but the Wawa corporate headquarter is in Pennsylvania, United States.
Q-4 Where is the largest Wawa store located?
The biggest Wawa convenience store in the world is located in Philadelphia. The store reciprocates its own culture with the company’s best products. The Philadelphia store is known for its popular grand opening.
