Today is Day 1 of Franchise Times Dealmakers Week. The webinar series is serving up a week of can’t-miss conversations with top franchise leaders who are building platforms, scaling brands, and reshaping the future of franchising. As a transactional and regulatory franchise attorney, these webinars provide valuable industry deal insight.
The week kicked off with a dynamic session on the future of platform franchisors featuring Katy Richardson, founder of Neighborhood Barre (which grew to 22 units before she sold to Extraordinary Brands last year), and Gregg Majewski, CEO & Founder of Craveworthy Brands—a fast-growing restaurant platform. The conversation was moderated by Managing Editor, Emilee Wentland of the Franchise Times. Despite coming from very different sectors—fitness and quick service restaurants—the two panelists found plenty of common ground, offering valuable insights for emerging franchisors and curious franchisees alike.
- What Are Platform Franchises Really Looking For?
Gregg Majewski kept it simple: “We look for three things—great food, great systems, and great branding. You need at least two of those. We can fix one—but we can’t fix all three.”
That’s the golden rule for platforms like Craveworthy looking to scale smart.
- Platform vs. Private Equity: What’s the Difference?
Private equity? Fast, flashy, and focused on exits. If your franchise isn’t growing fast enough, things can get rocky. Gregg made the distinction clear—platforms like Craveworthy are in it for the long game. They’re not trying to flip your brand in two years. They know it takes 6–24 months just to stabilize before scaling—and that breathing room can make all the difference for founders and franchisees alike.
- Franchisee Buy-In: Easing the Transition
Katy got real about the emotional side of selling your brand and bringing franchisees along for the ride. After “bootstrapping” Neighborhood Barre from 0 to 23 units, she emphasized the importance of leading with the “why.” Her advice?
- Don’t overpromise.
- Deliver in small, consistent ways.
- Be transparent about what’s changing—and what’s not.
- Build trust through action, not hype.
The panelists both described the buying power as a complete game-changer for franchisees. Katy mentioned the lower cost of equipment and Gregg explained how Craveworthy has been able to leverage its position to lower the cost of chicken $1.22 lb for new concepts coming into the platform. Gregg also finds the access to experienced sophisticated in-house legal counsel as a top benefit to growing franchisors. Katy said having an actual marketing department was critical benefit for her franchisees coming from the fitness market. Bringing in a new concept always revitalizes the marketing team and brings in new energy to the platform.
- Been There, Dodged That: Learning From Experience
As Katy put it: when you’re an emerging franchisor, you’re building the plane while flying it. Every vendor pitch sounds promising, every shiny solution looks like the answer. But the hard truth according to Gregg? “Most of the crap doesn’t work.” That’s where platform experience shines—having seasoned experts who’ve already made the mistakes (so you don’t have to) is priceless.
Gregg and Katy both stressed the importance of asking questions, talking to everyone, and taking your time before jumping into any deal. It’s about compatibility, vision, and shared values. For franchise founders evaluating becoming part of a platform franchisor, Katy suggests not to rush it – talk to anyone who will listen, identify what you want, and take your time.