mate, I've worked in the franchise industry for a long...

mate, I've worked in the franchise industry for a long time. Personally I would never buy one nor would I enter into a lease with a shopping centre.

At the moment I am doing some work for a Boost franchisee. A new kiosk of about 25sqm will set you back about $350k to $400k. A refurbishment will cost anywhere from $100k to $200k, possibly more depending on what's required. Agree, it takes a lot of widget sales and many years to get your capital back. Then once you do get you capital back it's time to enter into a new lease and franchise agreement and guess what....a refurbishment too! In major shopping centre do you see any old crappy looking shops? No, because the landlord and franchisee general require a refurbishment every time the lease is up.

Forget about the ACCC and Covid. RFG is a royalty business. the more stores the more sales and in turn loyalties (revenue). It's a scale game. Problem is RFG are still closing stores and based on 2021 it's nearly 3 stores a week. This has been ongoing for 5 plus years. When will this stop?

Can anyone tell me based on 2021 numbers what the EPS and PE are?