When choosing to invest in a new brand, what is your thought process?

Choosing a new brand to expand, diversify, or to control your local market (or for any reason) is easier thought than done. So many factors are involved in choosing a brand that will further your personal and business goals. At the recent Multi-Unit Franchising Conference (March 25–28), attendees looking to expand could find plenty of help—from both their fellow franchisees and in panel sessions such as “Discovering Your Next Brand: A Guide to Effective Research” and “Essential Steps for Launching Your Next Brand,” among the many breakout sessions focused on multi-unit/multi-brand growth.

We asked multi-unit restaurant operators for their thoughts on what they look for when considering investing in a new brand. We received quality responses from so many restaurant operators, we’ll be running a part 2 in 2 weeks.

Franchisee Bytes: 2025 MVPs tell why they think they were recognized for outstanding achievements.

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DAVID OSTROWE

Company: Founder & CEO, O&M Restaurant Group

Brands: Taco Bell

Years in franchising: 34 (24 on the franchisee side, 10 on the franchisor side)

David Ostrowe, Chair of Franchise Update Media’s 2025 Multi-Unit Franchising Conference, is the founder & CEO of O&M Restaurant Group, a Taco Bell franchisee. In addition to his successful franchise operations and related businesses (Personalized Management Associates, O&A Consulting, 180 Business Solutions, Career Lead), he’s served as Oklahoma’s Secretary of Digital Transformation and Administration, and was Chairman of the Board of Trustees for Oklahoma’s Lottery Commission.

I have a golden rule—but I’ve broken it many times. Evaluating a new brand is exciting. It creates buzz within my team, but excitement alone isn’t enough. Before committing, I ask myself these key questions:

Does the brand have national media support?
If they don’t have a Super Bowl commercial, they need a strong, scalable, and award-winning marketing strategy that drives traffic. Multi-unit operators need brands with serious consumer awareness.

Does the brand participate in a food and equipment cooperative?
I need access to commodities and equipment at below-market prices. If a franchisor is marking up proprietary commodities, it ultimately hurts franchisee profitability and discourages growth.

Is it a great business or just a great concept?
Some brands I love as a customer, but I wouldn’t invest in. The math has to work. If I can get 5% from a CD or 10–15% from the stock market without dealing with a labor force, a franchise investment needs to justify the effort. If I can’t hit a strong cash-on-cash return within 5 years, it’s not worth doing.

Is there an opportunity to own real estate?
I like owning my sites. Real estate builds long-term value and provides refinancing opportunities over time.

Are AUV and occupancy costs in line with other investments?
A low AUV with high occupancy costs is a ticking time bomb.

Does the brand have preferred lenders?
Strong brands negotiate favorable financing terms and have lenders who understand their model. That’s a sign of financial maturity.

Who owns the brand?
If the founder is still involved, that’s a plus. If private equity or public markets control the brand, expect leadership turnover every two years—bringing new marketing, expectations, and vision shifts.

Does the brand actively engage with developers?
If I have to convince developers to include the brand in their projects, it’s an uphill battle. Strong brands create demand among landlords, reducing site costs.

MITCH COHEN

Company: CEO, PerformMax Franchisee Advisors

Brands: 8 of 10 Jersey Mike’s open, 2 more coming; 3 of 10 Sola Salon Studios open, 4th under construction

Years in franchising: 40

Mitch Cohen is the incoming Chair of the 2026 Multi-Unit Franchising Conference. He is a board member of the IFA and of the Multi-Unit Franchising Conference. He is the CEO and founding partner of PerforMax Franchisee Advisors.

When we think about growing we consider all options. We like to have a mixed portfolio of acquisition, new builds, or second- generation locations. There are times when the acquisitions and second-generation locations are more affordable than new construction—for example, in the QSR industry, if you can find a location with some or all the refrigeration and HVAC needed for your business in a location that might be less expensive to buy and expand your network than new build-out. In other circumstances, like in our Salon Studio business, because of the larger footprint and configuration of individual studios we would prefer to build to suit our needs. If the opportunity to purchase an existing business to add to our portfolio presents itself at the right multiple, that would always be the quickest way to grow.

TAMRA KENNEDY

Company: Twin Cities T.J.’s

Brands: 6 Taco John’s

Years in franchising: 40

Tamra Kennedy is an IFA Foundation Board Trustee, an IFA Board Member, and Past Chair of the IFA’s Franchisee Forum.

Selection is all about alignment. Selecting a brand for investment should meet alignment criteria you set as foundational to your business vision. Does the brand you are considering exemplify those qualities you wish to be partnered with? Their product and their people should be something you can be proud to represent. Does the brand offer you those opportunities you seek for growth, both with unit count (territory) and market presence? And, of course, does the brand provide the economic return you require as part of your financial plan? While there are many choices in the marketplace, both well-established and emerging, staying true to your core investment strategy brings clarity to your selection process.

WES SWANEY

Brands: Previously had 7 Little Caesars, now developing 8 PayMore locations with 3 open

Company: The Electronics Agency, LLC

Years in franchising: 9 as franchisee (I also was involved with Little Caesars for over 35 years, managing and operating locations.)

When evaluating a new brand investment, I take a strategic approach that balances financial returns with long-term sustainability and consumer impact. Return on investment is a primary factor. I assess the brand’s profitability potential, scalability, and market demand to ensure that it aligns with our growth objectives.

Beyond financials, I consider the brand’s ability to contribute positively to our team’s and consumers’ lifestyles. A strong brand should provide real value, whether through innovation, convenience, or quality, while also aligning with consumer trends and preferences.

The ease of entry and operational execution also plays a key role. I look at factors such as franchising support, supply chain efficiency, and regulatory hurdles to determine how smoothly we can establish and grow the brand. If the path to opening is clear, with a strong foundation for long-term success, it becomes a much more attractive investment opportunity.

MANNY SINGH & SCOTT WOHLMAN

Brands: Five 7-Eleven, 2 Wienerschnitzel restaurants open, 1 in development

Years in franchising: 20 

When evaluating a new franchise opportunity, we take a strategic approach to ensure it aligns with our long-term goals. Market saturation is a key factor—we look for brands that have strong demand but aren’t oversaturated, allowing us to carve out a profitable presence. The investment amount also plays a crucial role, as we assess not only the initial costs but also the long-term financial commitment required for success.

Beyond the numbers, we prioritize opportunities that offer room for growth and expansion. A franchise with a scalable model and a clear path for multi-unit ownership is always appealing. Equally important is the level of support provided by the franchisor. Strong training, marketing assistance, and operational guidance make a significant difference in how smoothly we can run and expand our locations.

Of course, projected return on investment is always top of mind. We carefully analyze financial performance data to ensure the brand can deliver sustainable profitability. Last, we take the time to connect with existing franchisees. Their firsthand experiences give us valuable insight into day-to-day operations, challenges, and overall satisfaction with the business. A thriving, engaged franchisee network is a strong indicator of a brand’s potential.

By weighing all these factors, we make confident investment decisions that set us up for success.

FRANCHISEE BYTES

Each year, we recognize outstanding performance by multi-unit franchisees with our MVP (Most Valuable Performer) Awards. We know why they were chosen from among the many deserving entries. We asked this year’s winners why they thought they were recognized with their award.

(For more on this year’s winners, including those with non-food brands, keep an eye out for their profiles in the upcoming issue of Multi-Unit Franchisee magazine.)

To learn more about the MVP Awards and how to nominate franchisees for 2026, click here.

We have been fortunate to experience tremendous growth over the past seven years. Just last year in Wingstop alone, we added 22 new locations and acquired 30 more. We’ve gone from a single Wingstop restaurant to 185 in 8 years. EBITDA fuels future growth for us.
—Chad Given, 49, is the 2025 Mega-Growth Leadership MVP for achieving excellence in growth and expansion. He is Brand President at Sizzling Platter, which operates 361 Little Caesars, 185 Wingstop, 107 Little Caesars Mexico, 92 Jamba, 33 Jersey Mike’s Subs, 31 Dunkin’, 7 Sizzler, 5 Red Robin, and 1 Cinnabon. He has been involved in franchising for 25 years.

We were able to hit the ground running in opening our first store and quickly grew to six locations in a small area of New Hampshire within four years. It is just the two of us within the ownership group, and we had to grind to get that done. That is something you get out of veterans. The values instilled in us by our military service have been instrumental in our success. We know that veterans make up a large part of franchise ownership, and I’m truly honored that we stood out among such amazing multi-unit owners.
—Carrie, 49, and Josh Ayers, 53, are the 2025 Veteran Entrepreneurship MVPs for outstanding performance, leadership, and innovation by military veterans. They operate 6 Playa Bowls and have been involved in franchising for 5 years.

I honestly don’t feel like I do anything special. You just do what you do. It’s only when you receive recognition that you’re forced to reflect on your actions. I’ve always approached sitting at the “big table” with the mindset of learning as much as possible from those around me. We’ve had the privilege of being mentored by some truly incredible people. As you get older, you naturally find yourself in the role of a mentor. I genuinely enjoy mentoring others and want everyone to succeed, even if that sometimes includes your competition.
—James Brajdic, 53, is co-winner of the 2025 Single-Brand Leadership MVP for achieving leadership with a single brand. He is president of Customer Maniacs and Green Bay A Dub, which operates 13 A&W restaurants. He has been involved in franchising for 23 years.

I’m committed to helping women and minorities in franchising through mentoring, consulting, and overall advocacy for the industry. Franchising has been a blessing to my family, and I want others to experience the same opportunities.
—Chanel Grant, 34, is the 2025 Diversity, Equality, and Inclusion MVP for her demonstrated exceptional commitment to the promotion of diversity, equality, and inclusion in her organization. She is co-owner of Healthy Living Ventures, which operates 6 Tropical Smoothie Cafe, 3 Hand & Stone Massage and Facial Spa, and 1 Vio Med Spa. She has been involved in franchising for 10 years.

Consistently delivering strong performance across multiple units or brands and meeting or exceeding financial and operational goals. Prioritizing customer satisfaction and ensuring high service standards across all locations. Being able to adapt to market changes, identify new opportunities, and apply innovative strategies to maintain or grow brand presence.
—Sam Chand, 55, is the 2025 Multi-Brand Leadership MVP for achieving brand leadership with multiple brands. He is CEO of Jasam Enterprises, which operates 35 KFC and 25 Checkers & Rally’s. He has been in franchising for 27 years.

My partner, Glen Johnson, and I have been laser-focused on Tropical Smoothie Cafe development over the past 13 years. We are the largest franchisee group in the system with 118 locations, and we open about 12 cafes per year. We were the first franchisees in the country to establish a proven real estate model, and that has tremendously increased the average unit volume for the brand. We have been committed to Tropical Smoothie Cafe and have been a part of almost 14 years of continuous comp sales growth and innovation.
—Nick Crouch, 39, is co-winner of the 2025 Single-Brand Leadership MVP for achieving leadership with a single brand. He is co-CEO of Dyne Hospitality Group, which operates 118 Tropical Smoothie Cafe locations. He has been involved in franchising for 13 years.

I believe it is because of nearly 40 years of our life’s work as a crew member with an amazing growth opportunity into management and leadership roles. It all led to achieving the American Dream as an entrepreneur/franchisee through personal consistency, trust, and hustle, as well as our love and commitment to the El Pollo Loco brand and family.
—Phong Huynh, 54, is the 2025 American Dream MVP for achieving remarkable success in his new country. He is co-owner of Fuego Investment Inc., which operates 30 El Pollo Loco restaurants. He has been involved in franchising for 15 years.