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The Restaurant Boiler Room
The Restaurant Boiler Room
Author: Rick Ormsby
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Description
The Restaurant Boiler Room is a one-stop-shop for multi-million dollar merger and acquisition activity and financial complexities pressuring the franchise restaurant industry. We talk money, deals, valuations and risk – delivered to the front door of franchisees, private equity firms, family offices, large investors and franchisors across the world on an every-otherweek basis. It is unlike any other restaurant or franchise podcast.
88 Episodes
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Managing Director of Unbridled Capital Rick Ormsby is joined by Derek Ball, Peter Fisher, and Raymond Buehner to discuss the state of franchise M&A in 2026.
Topics of discussion will include:
1. Considerations when doing a deal in 2026
2. Commentary on current supply and demand for buying and selling
3. Lending, Cap Rates, EBITDA multiples
4. Thoughts on inflation, sales forecasting, and timing a sale
5. Examples of real-time issues affecting M&A transactions
In this episode of The Restaurant Boiler Room, we share a panel replay from the 2025 RFDC in Las Vegas. The panel was entitled, "How Leading Investors Assess the Market Opportunity in Franchise Restaurants."
In this episode of The Restaurant Boiler Room, Managing Director Rick Ormsby will be sharing his personal thoughts on questions asked during a panel discussion at the Restaurant Finance and Development Conference (RFDC). The panel was entitled How Leading Investors Assess the Market Opportunity in Franchise Restaurants. Rick was supposed to be the moderator of this panel but had to cancel his plans. We will put the panel on the Boiler Room platform in December so you can hear the responses of the franchisees who participated soon!
In this episode of The Restaurant Boiler Room, Managing Director Rick Ormsby is joined by Chris Lomuto from Northmarq to discuss the 2025 real estate market for M&A franchise sales.
Topics of discussion will include:
1. Supply and demand of franchise real estate now
2. Cap rate trends, pricing, days on market
3. 1031 market vs REIT buyers
4. How is financing getting done?
5. Macroeconomic real estate perspectives
6. Sector and geographical pricing analysis
In this episode of The Restaurant Boiler Room, Rick will share a recent interview about his professional journey through entrepreneurship and franchise banking, as well as the impact of his faith along the way. Todd Recknagel is the moderator, one of the largest franchisees in our country, and operator of several brands, including Massage Envy, Office Pride, and Sola Salon, among others. He is starting a new organization entitled Fran Faith, whose objective is to bring together business leaders in the franchise space who share faith values. I don’t share my story very often, so I hope you enjoy!
Join Rick Ormsby with Derek Ball, Peter Fisher, and Raymond Buehner from the Unbridled Capital team as they discuss the following topics:
What is the current profile of buyers for franchise assets for sale?
What brands, geographies, sizes, and types of deals are most sought after?
What prices are buyers most likely to pay (multiple of EBITDA)?
What risks are keeping buyers on the sidelines?
Are buyers expanding beyond franchise restaurants into other categories?
In this episode of The Restaurant Boiler Room, Managing Director Rick Ormsby will be talking about some thoughts from the recent Multi Unit Franchising Conference in Las Vegas and a quick chat about market conditions right now. He also talks about sale-leaseback financing in today’s environment.
In this episode of The Restaurant Boiler Room, Managing Director of Unbridled Capital Rick Ormsby is joined by Senior VP Derek Ball, Senior Manager Peter Fisher, and Associate Raymond Buehner to discuss the state of franchise M&A in 2025.
Topics of discussion will include:
1. Considerations when doing a deal in 2025
2. Commentary on current supply and demand for buying and selling
3. Lending, Cap Rates, EBITDA multiples
4. Thoughts on inflation, sales forecasting, and timing a sale
5. Examples of real-time issues affecting M&A transactions
In this episode of The Restaurant Boiler Room, Managing Director Rick Ormsby shares his thoughts as a panelist at the Restaurant Finance and Development Conference (RFDC) in a panel entitled Accelerating Growth: Strategies for Franchisee Acquisitions. He also shares some general perspectives from the conference.
In this episode of The Restaurant Boiler Room, Managing Director Rick Ormsby is joined by Chris Lomuto from Northmarq to discuss the 2024 real estate market for M&A franchise sales.
Topics of discussion will include:
1. Supply and demand of franchise real estate now
2. Cap rate trends, pricing, days on market
3. 1031 market vs REIT buyers
4. How is financing getting done?
5. Macroeconomic real estate perspectives
6. Sector and geographical pricing analysis
In this episode of The Restaurant Boiler Room, Managing Director Rick Ormsby shares some perspectives on his career and profession from a speaking engagement with a group of incoming college freshmen in California. He talks about his upbringing and career path while giving them life lessons that have been valuable to him. This would be a great episode for a young person eager to get exposed to mentoring and guidance while charting their professional future.
In this episode of The Restaurant Boiler Room, Managing Director of Unbridled Capital, Rick Ormsby is joined by Senior VP Derek Ball & Senior Manager Peter Fisher to discuss the state of franchise M&A in 2024.
Topics of discussion will include:
1. Considerations when doing a deal in 2024
2. Commentary on current supply and demand for buying and selling
3. Lending, Cap Rates, EBITDA multiples
4. Thoughts on inflation, sales forecasting, and timing a sale
5. Examples of real-time issues affecting M&A transactions
In this episode of The Restaurant Boiler Room, Managing Director Rick Ormsby gives insight into current restaurant news, including M&A deal flow, several high-flying brands, commentary on sluggish consumer spending, and recent transactions.
In this episode of The Restaurant Boiler Room, Managing Director Rick Ormsby participates in a panel discussion hosted by Franchise Times. Whether to allow private equity at the franchisee level is a key inflection point in many franchise systems, and franchisors and franchisees alike must consider the impact and influence these firms will have on their business. Learn from those who’ve executed these deals as they discuss long-term benefits and consequences.
Moderator: Emilee Wentland, Managing Editor, Franchise Times
Panelists: Kevin Burke, Partner, Franchise Equity Partners; Scott Romanoff, Co-Managing Partner, Franchise Equity Partners; Rick Ormsby, Managing Director, Unbridled Capital
*shared with permission from Franchise Times
In this episode of The Restaurant Boiler Room, Managing Director Rick Ormsby will answer franchise-related questions about M&A market conditions, cap rates, lending markets, and factors influencing a turnaround. It’ll be a good way to get some quick real-time insights.
Managing Director of Unbridled Capital Rick Ormsby is joined by Senior VP Derek Ball & Senior Manager Peter Fisher to discuss the state of franchise M&A in 2024.
Topics of discussion will include:
1. Considerations when doing a deal in 2024
2. Commentary on current supply and demand for buying and selling
3. Lending, Cap Rates, EBITDA multiples
4. Thoughts on inflation, sales forecasting, and timing a sale
5. Examples of real-time issues affecting M&A transactions
In this episode of The Restaurant Boiler Room, Managing Director Rick Ormsby is a panelist, along with Clay Harmon at Roark Capital Group and Barry Dubin at KBP Brands. The panel was moderated by Nick Cole at MUFG Bank, and it was entitled "Navigating an Acquisitions Path for Growth in 2024" at the 2023 Restaurant Finance & Development Conference held in Las Vegas.
*shared with permission from Franchise Times.
In this episode of The Restaurant Boiler Room, Managing Director Rick Ormsby discusses questions on the state of the M&A market for franchising at this moment, the difficulty of new unit development in this market, a quick discussion on when to invest in a franchise brand, and sharing some optimistic news about new franchises that are quietly making a big splash.
In this episode of The Restaurant Boiler Room, Managing Director Rick Ormsby talks about Fast Act legislation, Zombie PE funds, selling to an operator vs. a PE fund, recent deal closings, and a comment on upcoming franchise M&A deal flow.
In this episode of The Restaurant Boiler Room, Managing Director Rick Orsmby answers questions from listeners. Some questions include the answers to:
1. What makes a good franchise? How do I evaluate a brand?
2. How is the timeline changing for closing an M&A transaction? Is it more difficult and longer now?
3. Give me a quick update on the franchise real estate market



