Oak Hill Capital to buy Checkers, Rally's parent | CKE Restaurants chooses former KFC exec as CEO | Planet Fitness franchise group backed by private equity firm
March 24, 2017
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Franchise News
Oak Hill Capital to buy Checkers, Rally's parent
Oak Hill Capital Partners will acquire Tampa, Fla.-based Checkers Drive-In Restaurants in a $525 million deal that includes equity, debt and a management buy-in, the private-equity firm said Thursday. Sentinel Capital Partners has owned Checkers since 2014, with about 840 US restaurants under the Checkers and Rally's banners.
The Wall Street Journal (tiered subscription model) (3/23) 
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CKE Restaurants chooses former KFC exec as CEO
CKE Restaurants will bring on Jason Marker, former KFC US president, to be the brand's next CEO, starting in April. Marker will take over from Andy Puzder, who began his tenure as CKE's CEO in 2000 and said he "could not be more pleased" with his successor.
QSRMagazine.com (3/21) 
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Planet Fitness franchise group backed by private equity firm
Planet Fit Indy 10, a Planet Fitness franchise group based in Indianapolis, has received a "significant investment" from Atlantic Street Capital, although the specific amount was not disclosed. "I look forward to working with Atlantic Street to continue our steady growth beyond Indianapolis," said Planet Fit Indy CEO Mike Campagnolo.
ClubIndustry.com (3/22) 
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Best Practices and Business Leadership
Keep the big picture in mind when being critical
Perfectionists can be demoralizing, especially when they overlook a strong performance to highlight some detail that wasn't exactly right. "While you should maintain high standards, realize that great work is great work, and it's not necessary for employees to do everything exactly the way you would," Jaimy Ford writes.
Bud to Boss (3/17) 
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Most managers don't know what motivates employees
There is a disconnect between what managers believe motivates employees and what actually motivates them, writes Susan Fowler. Managers will often ascribe their motivations and beliefs to others, she notes, and oftentimes organizational constructs prevent managers from directly affecting pay, title or bonuses.
SmartBrief/Leadership (3/22) 
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Helping franchises — every day, every step of the way.
Learn how ADP's employee solutions can help your franchise find the best talent, understand employee classification and overtime requirements, create an up-to-date employee handbook, process payroll and file taxes.
Trend Watch
Survey: Restaurants plan for expansion, but labor issues raise concerns
Restaurant owners are optimistic that traffic will improve, with 51% of operators planning some form of expansion, according to a Nation's Restaurant News survey. The majority of respondents cited recruiting and retaining workers as their primary challenge.
Nation's Restaurant News (free registration) (3/23) 
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High-tech meets high-toned: Event space tests designers
Making event spaces technologically agile without sacrificing appealing ambience presents a constant challenge to designers. Concealing equipment keeps walls, ceilings and lighting ready for a variety of occasions.
Hotel Management online (3/20) 
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Low Performers Add Up.
Don't waste money guessing which candidates will succeed in your system. Apply science-based insights to onboard only the best franchisees today. Proven Match's assessment techniques rely on years of experience to accurately identify which candidates will succeed within your franchise business model. If you're interested in learning more, contact Proven Match today! We'll help you establish your ideal franchisee profile and gain more of the highest performing franchisees in your system.
News from IFA
Acosta calls joint employer doctrine "untraditional"
During Wednesday's confirmation hearing, Labor Secretary designee Alexander Acosta's views on the Obama-era joint employer regulation came to light in response to a question from Senate HELP Committee Chairman Lamar Alexander, R-Tenn. Acosta said that the NLRB's approach was "untraditional" and seemed to favor the traditional definition that a direct employer should be responsible for the employee's schedule, pay and hours worked. Read more and watch the clip.
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Cresanti to speak at franchise investment conference
IFA President and CEO Robert Cresanti, CFE, is one of 20 experts speaking at the Capital Roundtable's conference on Private Equity Investing in Franchise Companies. The conference, which takes place Thursday, March 30 in New York City, will explore the theme of "Thinking Outside-the-Bun -- Tapping New Brands & New Markets." Register here and use code IFA2017 to receive a special VIP rate.
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Policy and Finance Update
IFA calls for bipartisan support for Acosta
R. Alexander Acosta, President Donald Trump's nominee for labor secretary, has earned praise from business groups for his performance during a confirmation hearing earlier this week. "Following today's hearing, we are hopeful that there will be bipartisan support for his nomination in the U.S. Senate, so a new Labor Secretary can address the regulatory issues facing the franchise model as quickly as possible," said IFA's Matt Haller.
BuzzFeed (3/22) 
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Groups fight to keep swipe-fee protections in place
Restaurant groups are working to maintain protections, passed as part of the Dodd-Frank Act, that control the amount banks can charge merchants when customers use debit cards. Proposed legislation known as the Financial Choice Act would roll back these protections.
FastCasual.com (3/22) 
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We do not need magic to change the world. We carry all the power we need inside ourselves already: We have the power to imagine better.
J.K. Rowling,
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