🍔 Not all franchise deals are created equal.

We’ve seen appraisals that:

• Apply generic multiples without royalties
• Ignore franchisor contract risks
• Overstate goodwill based on brand alone

📌 SBA-compliant appraisals must adjust for:

✅ Royalties
✅ Franchise fees
✅ Transfer restrictions
✅ Control limitations

The brand has value—but the buyer’s control of that value can be limited. And yes—some of them get valued and financed when they shouldn’t.