Thursday, July 06, 2017 9:31:08 PM
The owner is just a regular guy. The franchise commitment blew up to over 350 in under two years. He will prob keep a portion of the royalty fees and get shares. In return he doesn't have to run the business at all, and Sal and his team take this to the next level. Which he may or may not have been able to do.
Look at Nathans Famous Restaurants. They have 279 locations and their market cap is 262 million.
We have 350 commitments and will probably get a lot more. It's blowing up. If the owners get a 150 million shares and our market cap gets there or surpasses it they are looking at close to 100 million dollars, plus whatever percentage of the royalty fees they keep.
It would take him a long, long time, and a lot of hard work to make 100 mil profit off of the franchises, and he may not have the knowledge to do it. (He admitted as much in the PR). Instead he gets to sit back, do whatever he wants, collect royalties and watch the stock price go up. Win/Win.
JMO
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