I don't think the Bahrain deal will be as lucrative as some may hope. It's only for two initial locations. In a typical franchise model let's say it's $100k fee plus 8% of gross sales.
If we assume the master license allows for more than two locations (Bahrain isn't all that big, population 1.2M so at most there might be three or four locations), and Gay is an expert negotiating power who got them to agree to pay $250k per upfront, at most I think we see maybe $1M. But more likely, it'll be a few hundred thousand, maybe enough to build out one new location here in the US if the mall pays the other half...
Unfortunately Parsi appears to be in a spot where he's going to have to accept toxic financing again. Maybe not as dilutive as the last time but still, not ideal terms.
