Orca Franchising · Buyer-Side Research
The research desk for franchise portfolio investors.
“Most multi-unit operators exit at 3 to 6x EBITDA. Franchisors at the same scale exit at 15 to 25x EBITDA. The gap is structural.”
5-100
Unit Operator Focus
3-6×
Franchisee Exit Multiple
15-25×
Franchisor Exit Multiple
0
Franchisor Referral Fees
What This Is
Research and tools for multi-unit operators building toward institutional exits.
Orca Franchising publishes buyer-side research grounded in 30 years of franchise investment experience. The research, the assessment, and the strategy conversations all share a single discipline: we work for the buyer, not the brand.
01
The Library
Buyer-Side Research
02
The Diagnostic
Portfolio Risk Assessment
03
The Conversation
Strategy Sessions
The Research Library
Three audiences. One discipline.
Audience One
Empire Builders
Multi-unit operators between 5 and 100 units, building toward PE-grade exits. Architecture, exit prep, and the structural decisions that determine the multiple.
80+ articles →
Audience Two
Regional Developers
The override-income model, 15-25× exit multiples, and how to evaluate a Regional Developer position before signing.
16 articles →
Audience Three
First Steps
Buyer-side fundamentals for operators considering their first franchise. FDD literacy, capital adequacy, discovery day, and the decisions that compound.
38 articles →
Begin Here
The Portfolio Risk Assessment.
10 questions. 5 minutes. What your portfolio looks like from the outside, before someone else tells you.
Begin the AssessmentThe frameworks behind the research.
The frameworks referenced throughout this site are documented in full on OrcaZee.com, the framework authority site in the Orca brand family.