With over 25 years of franchise, marketing, and entrepreneurial experience, and the owner of Franchise Perfection, Jim Coen, brings key skills to franchise consulting for those interested in buying a franchise business opportunity.
Jim has been a franchisee, worked for franchisors, ran a multi unit operation for a franchisee, and served as a franchise consultant matching candidates with the right franchise.
At Franchise Perfection there is no perfect franchise, but there is always a perfect match.
For over 20 years Jim worked with Super Coups. Super Coups is a MA based direct mail franchise business to business opportunity.
Prior to Super Coups Jim successfully marketed franchises in the New England area for Uniglobe Travel Northeast a travel franchise, Merry Maids a maid cleaning franchise, & Emack & Bolio an Ice Cream franchise.
Jim was the host of a popular radio show in the Boston Area called "Let's Talk Franchising" that was broadcast on AM 1060 WBIX The Boston Business Station.
Jim currently serves on the Board of Directors of the New England Franchise Association (NEFA) www.nefranchise.org
Potential buyout offer has support of family of founder Dave Thomas
COLUMBUS, Ohio – It was reported in the Mansfield News Journal 6 that the owner of 134 Wendy’s franchises wants to make a bid for the nation’s No. 3 hamburger chain with two private-equity firms.
David Karam, president of Cedar Enterprises Inc., said Wednesday that he and his partners have been invited by Wendy’s International Inc. to a second round of talks. He is backed by Kelso & Co. and Oak Hill Capital Partners.
“I’ve been involved in the brand,” he said. “I see the great potential of it.”
Cedar Enterprises, based outside Columbus, owns Wendy’sfranchises across the country that have a combined annual revenue of $200 million.
Karam’s first-round proposal was enough to garner entry into a second round next month, where bids are expected. He would not disclose how much he is willing to pay for Wendy’s, but said the company’s current stock price is rich.
Wendy’s shares rose 20 cents to $33.26 Wednesday.
“Fundamentally, there’s great upside with the brand, but the reality is no one wants to overpay,” he said.
Billionaire investor Nelson Peltz has said his company, Triarc Cos., is prepared to offer $37 to $41 per share for Wendy’s in a deal that would peg Wendy’s total value between $3.2 billion and $3.6 billion. Triarc owns the fast-food chain Arby’s and is also a major Wendy’s shareholder.
Peltz said in July that he and his allies had increased their Wendy’s stake to 9.8 percent of all outstanding shares.
Wendy’s formed a committee in April to determine how best to boost its stock price, including a possible sale. Wendy’s spokesman Denny Lynch and Peltz’s spokeswoman Carrie Bloom declined to comment Wednesday.
In the past year, Wendy’s has spun off its Tim Hortons coffee-and-doughnut chain and sold its money-losing Baja Fresh Mexican Grill following pressure from Peltz and other investors to boost the value of Wendy’s stock.
As a franchisee, Karam said he fears Wendy’s sales and product development would continue to stagnate under owners who do not know the chain as well as he does.
Karam’s father, Joseph, was one of Wendy’s original investors and became a franchisee in 1975. David Karam has run Cedar Enterprises for 22 years.
Karam has the backing of the family of Wendy’s founder Dave Thomas, said Pam Thomas Farber, Thomas’ daughter. The family would like to see the company turned over to someone involved in the company, she told The Columbus Dispatch, which first reported Cedar Enterprises’ bid.
“We don’t want the company to leave,” she said. “It’s been very hard on the family.”
Wendy’s, based in suburban Dublin, operates about 6,600 restaurants in the United States and abroad.
It trails rivals McDonald’s and Burger King.
Cross Posted at: Let’s Talk Franchising
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I think this is good. The franchisee will have business interests on both sides of the equation. I think a franchisee owner will understand the frustration points better and make efforts and decisions to minimize them.