Emerging Franchisor Conference coming this November
For the fifth year, the International Institute for Franchise Education (IIFE) will hold its Emerging Franchisor Conference (EFC) from November 11-12 at H. Wayne Huizenga School of Business and Entrepreneurship in Ft. Lauderdale, Florida.
Shelley Sun, co-founder of BrightStar, a health care staffing agency, will be the keynote speaker. Sun was named the International Franchise Association Entrepreneur of the Year in 2010.
The conference attracts founder, CEOs, COOs and presidents from emerging franchise systems across the country to collaborate at the discussions, and to take advantage of the knowledge provided on franchise development, financing, legal and regulatory issues and operations compliance.
For more information: 1-800-672-7223, ext. 5071
BK Deal for Up Front
Last month, a little-known investment company called 3G Capital, with backing from a group of Brazilian railroad titans, agreed to pay $24 a share to buy Burger King. That price was considered high for the Miami-based burger chain, given its sluggish sales, stagnant domestic growth and franchisee strife - analysts had been expecting roughly $20 a share. The $24 was 40 percent higher than Burger King’s stock price the day before the deal was announced.
Clearly, the price for Burger King shows that private equity firms are willing to pay top dollar for restaurants again, and the deal ignited considerable speculation in recent weeks about who might be next. Among the names mentioned: Chili’s owner Brinker International, California-based Jack in the Box, Denny’s and Sonic.
Meanwhile, Burger King’s new owners are expected to focus on cost cuts and international growth to recoup their investment. The CEO, once the deal is finalized, will be Bernardo Hees, who previously ran America Latina Logistica, a Brazilian railroad company that, as far as we know, doesn’t franchise. Or sell burgers.