The Restaurant Boiler Room - Unbridled Capital

Season 3 Episode 2: KBP Foods & Grandmere Capital – Franchisee Interview

Barry Dubin of KBP Foods and Mike Cherney of Grand Mere Capital join Rick and discuss the following:
1. General outlook for their brands, QSR, and restaurants for 2021. Best case/worst case?
2. Comments on the impact of political changes on revenues, M&A, and operations.
3. Opinions on franchise M&A activity in 2021. Slowdown or consolidation?
4. How they are approaching acquisitions for 2021.
5. How they come up with a price given big EBITDA lifts.
6. What segments/brands do you like?
7. Post-COVID, what are longer-term trends/changes that might emerge.

Collectively, these two companies own about 1,000 franchise restaurants in the KFC, Pizza Hut, and Taco Bell systems. They are among the largest franchisees in the US.


The Restaurant Boiler Room - Unbridled Capital

Season 3 Episode 1: Bonus Episode: Franchise M&A and 2021

Post-Election Thoughts on franchise M&A, and our thoughts moving forward into 2021.


The Restaurant Boiler Room - Unbridled Capital

Season 2 Episode 14: Bonus Episode: 2020, The Franchise Industry, and a Hopeful Outlook

2020 has certainly been an interesting year, hasn't it? Join Rick Ormsby as he discusses both his reflections on the year in the franchise industry and his hopeful outlook moving forward.


The Restaurant Boiler Room - Unbridled Capital

Season 2 Episode 13: Tax and Legislative Changes Affecting Franchise Valuations

How might looming tax changes affect the valuation and timeline of selling your business? Rick Ormsby discusses the following topics and more alongside two tax experts:

1. Changes in Your ‘Sale Horizon’
2. Shifting Political Landscape
3. Looming Tax Changes
4. PPP Loan Forgiveness and Taxation


The Restaurant Boiler Room - Unbridled Capital

Season 2 Episode 12: M&A Market Trends

We've all seen the articles regarding how 2020 has affected the restaurant industry, but where does that leave the M&A market? Rick Join Rick Ormsby as he talks with Derek Ball and Tony Petrunin from our team about all they've learned (hint: it's a lot!) from negotiating deals through this unprecedented season.


The Restaurant Boiler Room - Unbridled Capital

Season 2 Episode 11: Managing Lender Relationships

Your relationship with your lender doesn't stop when you sign on the dotted line. For many reasons, having an understanding of the lender's process and learning how to continue the dialogue could be grossly undervalued in the industry. Join Rick as he discusses the following topics and more with Michael Eagen, a Managing Director in the Franchise Finance Group of BMO Harris Bank:

1. A Lender's Internal Process of Issuing a Loan
2. Acquiring More Stores
3. Syndicated Deals - What is That?
4. Covenants and Compliance
5. Dangers of Overleverage
6. Life-cycle of a Banking Relationship


The Restaurant Boiler Room - Unbridled Capital

Season 2 Episode 10: Creative Financing Structures for Franchisees

While some lenders are pulling back, operators still need a robust way to solve for their capital needs – whether they want to acquire, recapitalize, build new units, buy-out partners or create breathing room while waiting for a turnaround.

Richard Fitzgerald and Wade Daniel from CapitalSpring join Rick Ormsby to discuss the following:

1. Circumstances when Operators Need Capital
2. Methods of Financing a Franchise Business
3. How Investors Approach Making Investments in Franchises
4. How to Prepare Your Business for an Investor


The Restaurant Boiler Room - Unbridled Capital

Season 2 Episode 9: Restaurants and Bankruptcy

While bankruptcy isn't something many of us love talking about, for those in the restaurant industry, it's important to have some understanding in your back pocket. Tom Ice and Andrew Stosberg from Middleton Reutlinger Attorneys join Rick Ormsby as they discuss the following topics and more:

1. What happens when distress hits
2. Chapters 7 and 11 bankruptcy
3. Potential franchisor issues


The Restaurant Boiler Room - Unbridled Capital

Season 2 Episode 8: Liquidity and the Lending Market: Post-COVID-19

What's the temperature out there? What does lending look like in a Post-COVID-19 world? Join Rick and John Hamburger, president of Franchise Times Corp. to discuss these questions and more.


The Restaurant Boiler Room - Unbridled Capital

Season 2 Episode 7: Traps and Provisions of PPP Loan Forgiveness

Rick Ormsby and Derek Ball from the Unbridled Capital team are joined by Tim Ring, an expert in Franchise Law, to discuss the CARES Act and the traps and provisions of PPP loan forgiveness.