Thinking of selling your franchise brand someday? Don’t do it until you hear this.

Investment banker J. Patrick Galleher from Boxwood Partners joins Franchise Secrets to break down the real mechanics behind franchise exits, private equity deals, and what makes a brand worth $100M—or not.

We cover:

-Why “vanity metrics” like territories sold can hurt your valuation

-What smart franchisors do differently to attract premium buyers

-The truth behind 20x multiples (and why most never get close)

-How to avoid common mistakes that kill enterprise value

-When to step aside as founder—and when to double down

-This is the episode every franchisor needs to hear before scaling or exiting.

👉 Join the Franchise Secrets Facebook group: franchisesecrets.com/facebook

👉 Learn more about the Franchisor Mastermind: scalablefranchise.com

⏱️ Timestamps:

00:00 – Why some founders thrive after selling… and others don’t

01:22 – Pat Gallagher’s background in franchise M&A

03:00 – How to tell if your franchisor is giving you the full truth

06:47 – The real story behind those $100M franchise exits

08:30 – Second bite of the apple: how founders cash in twice

09:48 – Vanity metrics vs real enterprise value

12:00 – How to avoid a stale “snow” pipeline

13:57 – Why unit-level economics matter more than hype

17:39 – The hidden ways franchisors protect their Item 19

24:52 – When founders should step aside—and how to find the right buyer

29:42 – The truth about 20x multiples (and what it really means)

Connect with Erik Van Horn:

🌐 Website - https://franchisesecrets.com/

📷 Instagram - https://www.instagram.com/erikvanhorn/

👍 Facebook - https://www.facebook.com/erik.v.horn/

💼 LinkedIn - https://www.linkedin.com/in/evanhorn/

Best Franchise Starter Playlist:

https://youtube.com/playlist?list=PLEEithd54kMlgRgsBAo4LWNCMSOthnK0r&si=TD1z25-ie2d23rGm

https://youtube.com/playlist?list=PLEEithd54kMle5_OUXiuLbc_UPBtz1vTE&si=uCOgDya1VnnCarDf

https://youtube.com/playlist?list=PLEEithd54kMk2Kw07KwZGWgF8UTx9N5_T&si=ZldjBOqFanGE-JUL

#FranchiseExits #FranchisorTips #PrivateEquityTruth

In this episode of Franchise Secrets, Erik Van Horn sits down with Nic Leland from Front Street to pull back the curtain on what really happens behind closed doors in franchise development.

Nic doesn’t just help people say yes to franchises — he helps them say no when it’s not the right fit. His journey from a would-be doctor to a franchise advisor reveals the human side of franchising, identity, risk, and making the right call for your future.

Whether you're thinking of buying a franchise, already in the game, or part of a sales team, this is the raw, real, and radically honest episode you need to hear.

👀 You’ll learn:

-Why being approved for a franchise isn't automatic

-The importance of identity, purpose, and fit in business

-What makes someone NOT ready for entrepreneurship

-How great developers protect founders and franchisees

⏱️ Timestamps:

00:00 – “Don’t buy that business”: The best franchise advice you’ll ever hear

01:38 – Why this isn’t just another franchise development episode

02:46 – From med school rejection to franchise leadership: Nic’s origin story

04:59 – The gamble that changed Nic’s life: Joining Front Street

07:22 – Letting go of your career identity — and finding the right one

09:46 – How identity and fear play into franchise buying decisions

12:04 – What Nic would tell his younger self (and why lifestyle matters)

17:54 – The early days of Front Street and why it’s not about volume

22:10 – Helping people walk away: The real job of a great franchise dev

23:59 – The “Why vs Why Not” list that every franchisee should make

30:42 – How Front Street decides when to not approve a candidate

39:00 – Broker vs website leads: Why the origin of the lead matters

43:41 – What makes a 10/10 franchise consultant vs a 1/10

46:36 – How Nic reviews applications — and what the numbers reveal

50:30 – Building wealth vs spending income: What franchisee finances tell you

🔗 Resources & Mentions:

Join the free Facebook group: franchisesecrets.com/facebook

Learn more at: scalablefranchise.com

Want to work with Front Street? Reach out at frontstreetequitypartners.com

Connect with Erik Van Horn:

🌐 Website - https://franchisesecrets.com/

📷 Instagram - https://www.instagram.com/erikvanhorn/

👍 Facebook - https://www.facebook.com/erik.v.horn/

💼 LinkedIn - https://www.linkedin.com/in/evanhorn/

Best Franchise Starter Playlist:

https://youtube.com/playlist?list=PLEEithd54kMlgRgsBAo4LWNCMSOthnK0r&si=TD1z25-ie2d23rGm

https://youtube.com/playlist?list=PLEEithd54kMle5_OUXiuLbc_UPBtz1vTE&si=uCOgDya1VnnCarDf

https://youtube.com/playlist?list=PLEEithd54kMk2Kw07KwZGWgF8UTx9N5_T&si=ZldjBOqFanGE-JUL

#Franchising #Entrepreneurship #Leadership

There’s a reason we don’t say “yes” to every franchise opportunity—and in this episode, we break down why. Jeff Herr joins Erik to reveal what actually makes a franchise brand scalable, investable, and valuable long-term.

We’re talking proprietary IP, raving customers, founder mindset, team culture, recurring revenue, and why the first rule of franchising is: don’t franchise. From a $12M single-unit operator to a high-margin dirty job brand no one’s heard of… this is the inside playbook.

👇 Timestamps:

00:00 – If you’re tired, franchising won’t save you

01:44 – What Jeff looks for in brands

03:33 – The “boxes” every brand must check

06:52 – Defining brand: emotional connection = real value

08:26 – A dirty job with 5-star reviews & proprietary IP

11:41 – Why recurring customers are gold

14:53 – FSOs vs Front Street: What makes us different

15:56 – Building enterprise value VS. chasing franchise sales

19:19 – The grit-and-grind behind true growth

27:13 – Why we told a $300k/mo brand NOT to franchise yet

34:50 – $12M from ONE unit: what made this brand unstoppable

43:32 – The 4 critical boxes for any franchise brand

🎧 Subscribe for more insights at FranchiseSecrets.com

🔥 Need help growing or launching a franchise? → ScalableFranchise.com

Connect with Erik Van Horn:

🌐 Website - https://franchisesecrets.com/

📷 Instagram - https://www.instagram.com/erikvanhorn/

👍 Facebook - https://www.facebook.com/erik.v.horn/

💼 LinkedIn - https://www.linkedin.com/in/evanhorn/

Best Franchise Starter Playlist:

https://youtube.com/playlist?list=PLEEithd54kMlgRgsBAo4LWNCMSOthnK0r&si=TD1z25-ie2d23rGm

https://youtube.com/playlist?list=PLEEithd54kMle5_OUXiuLbc_UPBtz1vTE&si=uCOgDya1VnnCarDf

https://youtube.com/playlist?list=PLEEithd54kMk2Kw07KwZGWgF8UTx9N5_T&si=ZldjBOqFanGE-JUL

#Franchise #FranchiseSecrets #FrontStreetEquityPartners