Multi-Unit Franchisee Magazine Issue III, 2017 - Page 88

ExitStrategies BY DEAN ZUCCARELLO Casual Dining’s Upside are making a huge impact on the restau- rant industry today. Opportunities abound as valuations fall Lower multiples, greater opportunity I frequently receive questions from clients and prospective buyers asking, “What’s the hottest new opportunity in the marketplace?” While it’s true that discovering the new McDonald’s or sexiest “brand du jour” seems most exciting, often the greatest opportuni- ties are far less glamorous. Do new and flashy concepts seem instinctively more appealing? Perhaps, but glamour is in- herently fleeting. And since we operate in the multi-unit franchise industry and not the fashion industry, this subjective allure will forever be eclipsed by stability and the potential for operational upside. This might come as a shock to some, but I believe that casual dining might just be that opportunity in 2017. So what about the widely publicized reports that the ca- sual dining subdivision has suffered greatly over the past few years? It turns out that the explanations for this are legitimate. But they also are manageable, and by no means are going to cause the downfall of the entire segment. For example, some of the primary reasons for casual dining’s downtrend include more competition, consumers’ shifting preference toward take-out and delivery, changing tastes, and the demand for high-quality offer- ings and speedy service. Considering these factors, it’s not far- fetched to view casual dining as behind the times. However, it is also important to note ѡЁѡɕѥ)́ѥѡ͕́Ёɔ)ͽɽ́ȁՅȁٕ)ɕхɅЁ́ЁɝЁѕ)ɔѽ́ѡЁЁ͕ͥ́)ɅѥѡɭЁѽ)єѡ͔Օ̰Յ)́ݥЁх䁉չ)ѡɔQɔ́ѥԴ)ȁ$ٔݥѹ͕ѥ)ɥԬ啅́ݽɭ)ѡɕхɅЁѡЁ́ѥԴ)ɱɕمЁѡ͔́聉Ʌ́e)MɅ́ݥ٥х䁑ͽٔ)ЁЁ݅Ѽ٥ٕٔ)ѡɥٔMɕمЁᅵ́ѡ)չ䁕ᅵ($)5U1Q$U9%PI9 !%M%LLU%%$)ѡ ɝȁ-ɉḛé̴)ѕ̸ѡ͔Ʌ́չ݅Ѽ)ݕѡȁͽ͕ɥ́ɑ́͡ɔ)܁ɝՅ䁽Ʌѥѕȁѡٕ)ɔQ̰Ё́ɕͽѼ)ѡЁՅݥɥ)ͥȁɕչ)ѡɵɔѡՅ͕)́х䁹Ёͥѥ䁉䰁݅ѥ)ѡɭЁѼɥЁѡ́ɕչ)Qͅ䁉Ʌ́ɔͽ)Սѵ́Ѽɕ́ѡՕ)ѡ䁅ɔ ͔ѡȁх͡)ɔѡ͔ѕ́ٔѡѼ)ٕɅѡȁɝ͍ɅՍɔ)ѼЁѡͅɕͽɍ́)ѥѥٕ́Ѽݥѡȁѽȁ͔)]Ѡɕݕ́ɽ٥)Յ䰁ɽ٥ѡȁ̰)ɕѡȁ́)ɑɥѡ͔ɕхɅ́ɔɕѼ)Ёȁѡյˊéѕѥ Յ)́ͼչՔͥѥ́)́əѱͥՅѕѼх锁ѡ)ɽݥхЁٕɕ́ѡ)%ѕɕѥ䁕՝Ё́ѡ́ɕ)ЁѡՅ͕Ёѡ)ɕ͕́ɽѥٔ́ݥѠѡ)Չхѥչ丁Qչȴ)ɵѡ͕Ё́ݡ)ͥѱ䁉ɽ՝ЁمՅѥ́ݸѼ)ѡݕЁձѥ͕́啅̸=ѡ)ͥمՅѥձѥ́ȁѡѽ)əɵEMHɅ̰Ս́Q) ٔɕɕɐ̰)ѡՅ́ȁɔ)ɅѥٔѼɽѥٔɍ͕ȸ)]ЁͼͥȁѡЁѡЁ)݅ͻeЁͼѡЁѡEMH͕)݅́ɥɱ䁥ѥ՝)ѡȁɅѥѡ)Ё͕ЁՍ́ѡЁ)չхѼѡ丁Ʌѕ)ՅɕхɅ́ݥɥ)ѡȁݸѥЁѥ̰Ս)́ɔѕѥ́)ɝȁхɕեɕи9ѡ̰)ѡ͔ɽɽɕ镐)͕́ѡɅեѼх)յȁѕɕЁЁѼѕȁɕ)ѡ́ѡɭ)ٕ役ݡ́ѥٔѡ)́ݥѠѡȁݸɅѕ䰁ѡɔ)́ͥ́ݡ䁽)ɽѽѕ́и Ёɔ)ѕɵݡѡե́)а͕ͬѡ胊q́Ȱݡ)$ɔɥЁ聄)ЁEMHɅЀ %Qȁ)ѥՅɅͥѥ(Ը %Qt]ѡͽ)ݥѡٔѽ݅ɐՅ)ձѥѕ䁉ѡЁѡ䁑)iՍɕ́ <)չȁQ ɕ)ɽɥمѕ䁽ݹ)ٕѵЁ٤)ͽ͕٥́ɴ͕)ٕͥ䁽ѡձѤչ)Ʌ͔ͥ́)ɔѡԁ啅̸!́ɔѡ)啅́Ʌͅѥɤ)ɝ̰եͥѥ̰ٕѥɕ̰)Ʌѕѡ)ɕхɅЁ丁 хЁЀ̴(āȁՍɕɕ͝ɽ