The article implied that the combined three stores owned by the franchisee had 30% sales growth across their 3 stores. As an aside click on the link at the end of the article for a story on the Bundaberg (Qld) Michel’s Patisserie franchisee, proving that franchising in the QSR segment is all about people and having the right attitude.
There seems to be a few green shoots in the RFG empire, rejecting an inadequate sale price, in consultation with the bankers is in a perverse way a good signal and evidence, by implication, that something is working.
Whether RFG has the time to recover will depend on bank patience. If RFG was able to stabilise its operations perhaps it could start to attract new franchisees back in. I hope they continue to drive down costs for franchisees as a financially successful franchisee is a happy franchisee.
Cheers.....Daicosisgod
RFG Price at posting:
24.0¢ Sentiment: Hold Disclosure: Held
