Sports team valuations keep climbing, but what actually drives them? 📈 Over the past 20 years, sports team valuations have outperformed the S&P 500 (14.4% annual returns vs. 10.7% for the index). But those numbers don’t happen by chance. When investment bankers and analysts value sports franchises, here are some of the biggest factors they consider👇 ➊ Revenue multiples: Most teams are valued on a multiple of annual revenue, which can range from 5x-10x+, depending on the league and growth outlook. ➋ Geographic location: Major markets (like New York, LA, or London) carry massive premiums due to fanbase size, corporate partnerships, and media exposure. ➌ Brand value: Global recognition, legacy, and cultural relevance play a major role in intangible value. ➍ Media rights: Broadcasting and streaming deals continue to be one of the largest drivers of long-term franchise growth. ➎ Stadium economics: Teams that own or control their venues capture more upside from ticketing, naming rights, and real estate development. Multiple other components are considered outside of these, but these are some of the most useful metrics. Overall, the process of valuing a sports franchise requires deep qualitative data. It'll be even more interesting to see how the next 5-10 years play out with technology and real estate becoming a core focus of many organizations. Subscribe to the Vetted Sports weekly newsletter to get the latest industry news, trends, and updates around the business of sports 📩 👇 www.vettedsports.com
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You might be surprised who really owns your local Shell or BP station… Over the past decade, major oil companies have been quietly reshaping their downstream model, shifting from owning and operating fuel stations to Licensing their brands and outsourcing daily operations. The logic is clear: => Focus capital expensitures on higher-return, lower-carbon investments, while keeping strong brand presence through partners. Here are some notable examples: - Shell → Vivo Energy (Africa): Shell exited operations in over 20 African countries, maintaining its brand via long-term licensing. Vivo Energy now runs 2,000+ Shell-branded stations across the continent. - Shell → Vitol (Australia): Shell sold its entire Australian downstream business to Vitol for A$2.9 billion, including 870 retail sites and the Geelong refinery now operating under the Viva Energy brand, still selling Shell fuels under license. - BP (Austria, Netherlands, Switzerland): Gradually selling or franchising retail networks, retaining branding and supply agreements - Shell → ST1 (Norway & Finland): Sold its Nordic retail business but continues under the Shell brand via license across 400+ sites. - ExxonMobil → EG Group & DCC Energy (Europe): Esso-branded stations are now mostly run by licensees and partners, not ExxonMobil itself. - TotalEnergies (Belgium, Germany, Italy): Partnered with Q8 (Kuwait Petroleum) and MOL Group for retail operations, while keeping brand or supply rights. - Chevron (Asia, Latin America): Chevron Caltex continues through franchise and brand-license models. - Eni (Italy, Greece): Converted many stations to franchise/dealer-operated sites. Why this matters 1. Majors are redeploying capital toward energy transition and high-margin trading. 2. Brand without burden: They keep consumer visibility, supply, and loyalty networks without the cost of operating thousands of stations. 3. Local empowerment: Regional and local players are now driving transformation and growth. They execute locally while operating under a global brand umbrella. Does this resonate with you? Does this apply to your market?
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Confirmation Day, also known as Discovery Day in the franchising world, is a crucial step for potential franchisees to connect with the franchisor's team and existing operations. During this day, you will meet the key stakeholders: the franchisor, potential franchisee, and broker or business coach. As a franchisor, the first thing you want to do is to make sure that everyone at your franchise organization has received candidate profiles and a very comprehensive overview of each candidate that's coming through Confirmation Day or Discovery Day. What this looks like is a writeup of their background, it could even be a video of the candidate, photos of their family, hobbies, and things they like to do. As well as a comprehensive financial personal statement, so that the franchisor understands where the candidate sits financially, and their financial strength in pursuing the franchise opportunity. The second critical thing as a franchisor is that you need to make sure that you are evaluating each candidate under the same rubric. Work with your leadership team to identify what the key success factors are in voting up or voting down a franchise candidate, so that you're treating all candidates on the same level playing field. A lot of time there can be confirmation biases when franchisors will provide feedback on candidates that are subjective in nature. You want to try and avoid this. A rubric of criteria will help you to do just that. One of the keys to a successful Confirmation Day as a franchisor is to come across as authentic to potential franchise candidates. By keeping in mind transparency, communication, and a genuine interest in their success, you'll select the right candidates to join your franchise family. Share in the comments below some of the ways you ensure a smooth Confirmation Day process! #franchising #discoveryday #confirmationday #leadership
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This week, we met 2 potential franchisees for an unsold part of the country: One is a finance executive. And his partner is a 30-year multiunit restaurant operator (who recently sold his company). I wanted to share 2 notes from this meeting. 1️⃣ The first was about prep time and labor. CEO Troy Hooper (pictured) was giving them a back kitchen tour, and showed them: ✅ How our inventory gets delivered already cut, portioned, and ready to use [we're eliminating knives and their liabilities!]; and ✅ Because of the unique service model, 1 team member can come 15-30 minutes before opening, press a few buttons [on the rice washer, rice cooker, and patented induction unit], and they're ready to serve customers upon opening. The restaurant-experienced partner talked about how - at one of his concepts - he needed to come in at 8a in the morning, and have 3-4 people come in to prep before opening at 11a. IF THAT'S THE CASE, 4 people x an average wage of $25/hour x 3 hours of prep time = $300 before you even open for the day. Yikes. That's hard to start and recover from. They saw that operating a Pepper Lunch Restaurants would save at least $200 a day on that alone. Times that by 360 days in a year that we're open, and franchisees get $72,000 back into their pockets. Without doing anything else (but we were just scratching the surface). 2️⃣ The second note was about franchisor support. The brand that the restaurant operator was with (and he oversaw 18 stores) only gave them a playbook for how to open and operate a restaurant, wished them good luck, and came back to audit and penalize violations they didn't properly train them for (and violations they were also guilty of in their corporate stores #doublestandard). For us, even though the concept is simple and requires no skilled labor, we require 4 weeks of training to build muscle memory, confidence, and outlier situations. Not only that, corporate from Singapore flies in to certify it, too. Yes - we're that anal, we want these skills embedded into your soul 😂 , and we care that much about setting franchisees up for success. Because I'm in unique situation where I can talk about being a franchisee, too - I talked about how corporate has weekly calls with all franchisees to: • Keep everybody accountable for deliverables; • Minimize the admin of emails and follow-up; and • Also require the vendors (construction, real estate, architecture, etc.) to be on them, so that franchisees are not the bottleneck, and decisions are made immediately. Just some best practices for franchisors. And some selling points for franchisees if you wanna become one.
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The Real Franchise Flex? Getting Locations Open. Many emerging brands celebrate selling franchises like it’s the finish line. It’s not. Selling a franchise makes a headline. Getting one open builds a business. The best in the game know this. For example, Mathnasium opened 100+ new locations a year. Opened. Most franchises struggle to open more than 4 a year. Why the gap? Growth isn't about sales decks and territory maps— it's about systems, support, and speed to open. If you're evaluating a franchise, look past the hype. Ask: How many locations did you OPEN last year? The real traction lives there. Margins come later—if you can even get the doors open. For a real world example, the team at Ace Pickleball Club is the oiled machine done right. Youtube Joe Sexton and the Ace crew to learn about efficient #pickleball franchises.
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Ever wonder why so many successful people lean towards franchising? When I first started my entrepreneurship journey, I didn’t fully appreciate how much effort goes into building every single aspect of a business from scratch. Supply chains, marketing, branding, operations—each piece takes time, money, and a lot of trial and error. Fast forward to today, I now see why so many entrepreneurs choose franchising. Franchises give you access to: • Proven systems that have already solved key challenges • Brand recognition that builds trust with customers • Communities of franchisees who share insights and collaborate • Expert teams for marketing, real estate, and operations These are lessons I learned the hard way by starting everbowl from zero. And now, as a franchisor, I get to see the other side—the advantages franchising provides to those ready to take the leap into business ownership. The biggest takeaway? Success doesn’t have to be built in isolation. Franchising is about standing on the shoulders of a proven system to accelerate your growth. #Franchising #Entrepreneurship #LessonsInBusiness #Leadership #BusinessGrowth
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I see too many franchisors get stuck at 20 to 30 franchisees. And its not because they want to be stuck there. More often than not there are common issues 👉 Franchisee joins - pays their fees, recieve the training 👉 No business plan, no expectations of growth 👉 Franchisee either gets comfortable with low revenues and earnings OR requests an early exit because they can't make the business work 👉 Franchisor agrees to the exit and recruits the next franchisee I see it too often: franchisors get caught up in chasing upfront franchise fees, for cash flow, mistaking them for the business model. But let’s be clear ....those fees are just the entry ticket for the franchisee, not the revenue model for the franchisor. They’re not the engine of growth. The franchise fee is the seed that plants the MSF tree. MSF revenue is the long-term growth model, which benefits the entire network. And MSF revenue only flows consistently when franchisees are supported, performing, and profitable. That’s where the real work lies. It's where the opportunity really lies. Your first 10 to 20 franchisees? They’re not just your early adopters. They’re your validation case studies, your internal ambassadors, your proof to others what's possible. They will either help you grow with confidence or become a an advert of mediocrity. I can't stress enough .... 🌟 Deliver clear, customised business planning from day one 🌟 Ensure franchisees know what the expectations are 🌟 Facilitate growth-focused peer accountability 🌟 Build the infrastructure to make franchisees successful, fast Successful franchisees = successful franchisors When franchisees win early, everybody wins. And when they don’t? The growth stops before it even gets started. Too many franchisors say they can't afford the most basic of expenses to drive their business forward - thats because franchisee's are stuck. If you want to be a brand that hits 100 open locations, don’t focus on selling 100. Focus on making the first 10 wildly successful. the other 90 will follow. That’s the foundation that scales. That’s what separates sustainable systems from short-lived ones or ones which stumble from month to month. If this has resonated with you in any way, I'd be happy to schedule a chat. #Franchise #Franchising #Franchisor #Growth
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Just got off a call with a founder who's sent 1,000+ cold emails with ZERO responses... Let me ask you something... Have you ever crafted what you thought was the perfect outreach message, only to be met with complete silence? One of my clients (a SaaS founder) just shared their frustrating experience that might sound familiar... They spent weeks perfecting their message, researching prospects, and personalizing every email. The result? Radio silence. Zero responses. Zero meetings. Zero opportunities. And here's what really hurts... Their competitor, with an inferior product, was landing meetings left and right with the same prospects. After analyzing thousands of outreach campaigns, I’ve discovered that trust isn't built through volume - it's built through three specific elements that buyers actually care about. Here are the 3 trust drivers that actually get decision-makers to reply: 1) Social Proof That Matters Stop leading with generic logos. I've found buyers instantly engage when you share specific results from companies in their exact industry. They need to see themselves in your success stories. ✅ POWER MOVE: Reference a similar company's specific metrics improvement (e.g., "We helped Company X increase their conversion rate by 47% in 60 days") 2) Thought Leadership Signals Your prospects are drowning in "experts." I've tested this extensively - buyers respond when you demonstrate deep industry knowledge through specific insights about their business challenges. ✅POWER MOVE: Share a unique observation about their market position or recent company changes that others missed. 3) Micro-Deliverables This is the game-changer most miss. I've seen response rates triple when founders offer immediate value before asking for anything in return. ✅POWER MOVE: Provide a quick competitive analysis or specific growth opportunity they can implement today, regardless of whether they reply. The data is clear: 89% of cold outreach fails because it focuses on what YOU want instead of what THEY need. These aren't just theories - I've watched these exact strategies transform response rates from 2% to 20%+ across hundreds of campaigns. Here's the real question: How many of these trust drivers are you actually incorporating in your outreach right now? #ColdOutreach #B2BSales #TrustBasedSelling #OutboundMarketing #SalesStrategy
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Founder-Led Sales Bootcamp #3: Warm outreach without automation It’s tempting to lean on bulk email tools because they promise scale. The catch: they also dilute credibility. A decision maker will delete the fifth “Hey {{FirstName}}” before it's even 9am. They won’t delete the note that references a line from yesterday’s podcast or a metric buried in their annual report. Personal signals cut through noise because they prove you cared enough to look. Warm, handcrafted outreach does more than protect your brand. It lets you test language in real time. When someone replies, you know the hook worked. When they ghost you, it didn’t. Patterns emerge fast when you write each line yourself, and those insights feed back into product positioning far quicker than any A/B test at scale. You also learn priceless context. A VP might tell you, “We shelved that project after a budget freeze.” That single sentence prevents weeks of chasing a deal that can’t close. Automation can’t deliver nuance like that. Yes, manual outreach is slower on day one, but it compounds. Ten thoughtful messages a day beats a thousand generic blasts that land in spam. The goal isn’t volume - it’s momentum with the right people. Action plan: 💡Curate a laser list. Use LinkedIn Sales Navigator to pull fifty prospects who fit your ICP on industry, role, and team size. 💡Research for two minutes each. Read a recent post, earnings call quote, or customer review. Note one detail you can reference. Or even ask ChatGPT something many won't know about this person 💡Write a 120-word email or DM. Hook with that detail, state the pain you solve, close with one simple ask: “Open to a ten-minute chat about how we can help do X for you?" 💡Send ten messages a day by hand. Track opens, replies, and meetings in a simple sheet so you can spot winning phrases. 💡Follow up once. If they engaged but didn’t book, reply three days later with extra value—a relevant article or a quick audit offer. 💡Refine weekly. Keep subject lines and openers that earn replies, rewrite the rest, and share best performers internally. What opening line gets you the best response rate? Drop it below so everyone can learn and tweak together... Follow me to ensure you get the full Founder-Led Sales Bootcamp in your feed.