Big Money in Franchising

Alicia Miller is the founder and president 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 previously worked as a member of the Board of Governors for the International Franchise Association’s Certified Franchise Executive™ (CFE) 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.

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