Let's Beat the Shortes, page-22

Dominos and 711 are significant because they are both franchise models. Franchise models have been in the limelights in the last 6 months amid revelations around workers conditions. Some may argue that the issues that have come to light at some large organisations are not specific to them, but part of a broader problem that exists within the entire franchise universe.

That view is not entirely crazy and that has to have played some part in RFG being brought down afew notches. I hold the view that at current prices most of the risk is priced in and with such a good yield, stellar management record and decent continued growth prospects, the stock is a solid value play.