"UNIQUE TOPIC: This is a book intended to help franchisors, franchisees, and private equity investors to understand how they can work together to mutual benefit. There isn't a book like this in the market, likely because it is a niche topic about something that has only been happening for a relatively short amount of time.
TIMELY COMMENTARY:
The Subway sandwich shop chain is set to be sold to a private-equity firm, Roark Capital, for nearly $10 billion dollars, which has been in the news. There have been a number of high-profile acquisitions in recent years. The franchise sector saw robust M&A activity from mid-2020 through mid-2022, with more than 100 transactions.
AREA OF OPPORTUNITY: There are more than 9,200 professional PE firms worldwide, approximately 4,500 of which are in the United States. In the U.S. alone, private equity is sitting on more than $3 trillion in ""dry powder"" (committed funds that haven't yet been deployed.) So we are far from saturated in terms of potential private capital coming into franchising. The book is food-for-thought for franchisors and multi-unit franchisees who are thinking about succession and exit strategies.
AUTHOR WITH DEEP SECTOR EXPERTISE:
Miller is a former multi-unit franchise operator, so she understands very well the challenges and benefits of being a franchisee. Because she also co-invests alongside her private capital partners, she has a unique point of view as an advisor and investor with deep sector expertise.
SECONDARY AUDIENCES: Franchise suppliers and advisors; education and business programs; wealth management and financial advisors.
COMPELLING NARRATIVE: This is the surprisingly rollicking story of how private equity transformed the greatest engine of small business and job creation ever invented: franchising. In addition to its target audiences, it'll appeal to those interested in the history of small business in North America."
By:
Alicia Miller
Imprint: Figure 1 Publishing
Country of Publication: Canada
Dimensions:
Height: 228mm,
Width: 152mm,
Spine: 25mm
ISBN: 9781773272375
ISBN 10: 1773272373
Pages: 320
Publication Date: 25 April 2024
Audience:
General/trade
,
ELT Advanced
Format: Hardback
Publisher's Status: Active
Introduction Part One: Private Equity Arrived Late, But Now Dominates Franchising Chapter 1: Understanding Franchising’s Enduring Appeal Chapter 2: A Brief History of Private Equity in Franchising: Where It Began Chapter 3: Family Pizza Night Looks Like a Pile of Cash–Private Equity Discovers Franchising Chapter 4: A Frog, More Big Money, and the Final Missing Piece Part Two: The PE Profit Ladder Chapter 5: The Private Capital Landscape: Players and Strategies Chapter 6: PE’s Playbook for Growing Franchise Businesses Chapter 7: The PE Profit Ladder Chapter 8: Roark’s Impact on Franchising Part Three: Private Equity’s Franchise Track Record and Future Chapter 9: When Everything Clicks: Positive PE Impacts On Franchising Chapter 10: Smart Money Bloopers – Mistakes, Head-Scratchers, and Flameouts in Franchise Investing Chapter 11: The Future of Franchising and Private Equity Appendix: Private Equity Fund Performance Resources for Franchise Disclosure Documents Recommended Reading Educational Resources Online Resources Acknowledgements Endnotes Index
Alicia Miller is the founder and managing director of Emergent Growth Advisors, a boutique strategic advisory firm with deep expertise in franchising and private capital, and a particular focus on helping emerging brands grow smart from the beginning so they can reach their greatest potential. She is also an investor in both brands and multi-unit franchise operators. She is also a member of the board of governors for the International Franchise Association’s Certified Franchise Executive education program; has authored numerous articles on franchising and private equity for Franchise Times, Entrepreneur, and Forbes; and has been a multi-unit franchisee. She lives in Columbus, Ohio.
Reviews for Big Money in Franchising: Scaling Your Enterprise in the Era of Private Equity
"""Any franchisor interested in working with private equity must read this book."" –Scott Greenberg, author,The Wealthy Franchisee"
