Getting To Know Your Ambition

• Tell us briefly: what outcome would make you call this territory expansion a clear success?
• Which of these best describes your profile today? Options: Experienced multi-unit operator (≥15 units), Growing multi-unit operator (3–14 units), Single-unit operator, Investor group / capital partner (no operating history), Company-owned development team, Other (please describe)
• How many units are you targeting in this market over the next 36 months? Options: 1–2, 3–5, 6–10, 11–20, 20+
• Share the quick facts that matter: current unit count, trailing-12-month average unit sales, and typical EBITDA margin for your portfolio (or your expectations if you're new).
• How do you normally make a final commitment to development capital? Options: Owner/principal signs off, Internal land/investment committee, External investors require vote, Bank/SBA conditional, Other (describe)
• How emotionally important is this market to your long-term growth plan? Options: Mission-critical — makes or breaks our plan, Important — a preferred region, Helpful but replaceable, Exploratory — open to learning

What Would Make This Win Feel Real?

• If this market delivered exactly what you needed, what would you be able to do differently as an operator or investor?
• Which of these metrics would the stakeholders point to first when deciding this was a success? Options: Committed unit count, Payback period, IRR / investor return, Sustained EBITDA margin, Rent-to-revenue %, Market share / penetration
• What timeline separates 'on time' from 'too slow' for approvals and first store openings in your view? Options: Approve & break ground within 3 months, 3–6 months, 6–12 months, 12+ months
• For each decision-maker (owner, investor, land committee), what concrete evidence do they require to sign off? Please name the stakeholder and the single most persuasive document or metric.
• Which early success signals would you present to your land committee or investors to secure ongoing support? Options: Hitting X% of modeled sales by month 6, Rent-to-revenue below threshold, Operational break-even by month Y, Strong local team hiring / retention, Positive customer feedback & NPS

If We Had to Prove the Market in 30 Days, What Would We Look For?

• What single metric would make you stop the process immediately if it failed to meet your minimum?
• What minimum trade-area density do you require (households or daytime population within 3 miles)? Options: Low (<15,000), Moderate (15,000–35,000), High (35,000–70,000), Very high (>70,000)
• What rent-to-revenue ratio is acceptable for you as a hard threshold? Options: <8%, 8–10%, 10–12%, 12–15%, >15%
• How many direct, similar-format competitors in the primary trade area would make you uneasy? Options: 0, 1–2, 3–4, 5–6, 7+
• How will you use Item 19 in validation: rely on brand averages, build a conservative ramp, triangulate with franchisee calls, or create your own model? Options: Trust brand average, Use conservative median slice, Call 8–12 franchisees and triangulate, Build our own conservative ramp, Combination / Other
• Which real‑estate truth‑tellers matter most to you in a 30‑day check (pick up to three)? Options: Traffic counts / vehicles per day, Visibility & frontage, Parking availability, Co‑tenancy quality, Drive‑thru or access points, Zoning & permitting outlook

Where Reality Keeps Tripping Us Up

• When deals stall in your experience, which single problem do you instinctively blame first?
• Which of the following has caused the longest past delays on your projects? Options: Permitting and inspections, Lease negotiations / landlord approval, Funding shortfalls, Contractor availability or quality, Site remediation or utilities, Franchise approval logistics
• How often during lease negotiation does rent creep above your target threshold? Options: Almost always, Often, Sometimes, Rarely, Never
• Tell us about a project that missed expectations—what went wrong and what would you change if you could do it again?
• Which constraints are you willing to negotiate with incentives (choose all that apply)? Options: Reduced franchise fee, Rent abatement, Longer construction period, Marketing co‑funding, Exclusivity concessions, Other
• How much schedule buffer (in months) do you normally insert into a development timeline to guard against surprises? Options: 0–3 months, 3–6 months, 6–9 months, 9+ months

How Aggressive Is Your Commitment—Really?

• If we offered development incentives in exchange for penalties on missed openings, where would you draw the line?
• Which best describes the split between committed units and aspirational units for this plan? Options: All committed (100% contractual), Majority committed (>60%), About half committed (≈50%), Mostly aspirational (<40% committed), Undecided
• How many units are you willing to commit to in a signed agreement today? Options: None, 1–2, 3–5, 6–10, 10+
• Which incentives would meaningfully increase your willingness to sign (select all that would move the needle)? Options: Reduced franchise fee, Construction credit / allowance, Rent abatement / landlord concessions, Direct marketing support, Financing referrals / rate support
• Describe your current financing readiness (choose the one that best fits). Options: Committed lender term sheet / bank approval, SBA referral in progress, Private equity or investor capital ready, Self-funded to a degree, No financing yet
• What level of penalty exposure is acceptable to you? Options: Acceptable with limits, Negotiable depending on incentive, Deal‑breaker — cannot accept penalties, Prefer minimum liquidated damages only

Who Needs to Say Yes (And What Will Convince Them)?

• Who currently holds the de facto veto on new development for your organization, and why?
• Select all stakeholders who will be involved in the final approval. Options: Owner / principal, Land committee, Investor group / LPs, Board of directors, Local operating partner, Franchise operations team
• For each stakeholder you selected, what is their primary concern (cash-on-cash, timeline, reputation, operational risk, other)?
• Which documents or analytics do your decision-makers insist on seeing before they will sign (select all that apply)? Options: Item 19 / unit-level sales data, 3‑year pro forma, Third‑party market study, Site scorecard, Lease abstract with key terms, Construction estimate / budget
• How do these decision-makers prefer to engage for final approval—formal committee, workshop & Q&A, written memo, or a brief live presentation? Options: Formal committee meeting, Workshop + Q&A, Written memo + follow‑up, Live presentation only, Combination
• How much time do stakeholders need between receiving the package and giving final signoff? Options: Same week, 2 weeks, 1 month, 1–3 months, 3+ months

Let’s Model the First 12 Months—Worst, Likely, Best

• If the first 90 days went poorly, what single metric would you watch to decide whether to change course?
• Which ramp curve best matches your real-world experience for new openings? Options: Aggressive (≈70% of mature by month 6), Realistic (≈50% by month 6), Conservative (≈30% by month 6), Custom ramp—describe below
• In which month do you expect most units to reach operational break-even? Options: 1–3 months, 4–6 months, 7–12 months, 12+ months
• Provide the percent of modeled mature sales you’d expect at month 1, month 3, and month 6 (e.g., 10%, 35%, 50%).
• Which pre‑opening marketing activities and budgets are necessary to hit your ramp assumptions? Options: Local digital + targeted social, Grand opening events & sampling, Regional advertising buys, PR / influencer seeding, Minimal organic outreach
• Which operational warning signs in the first 60 days would trigger immediate brand intervention? Options: Sales below model by >25%, Labor cost variance >X%, High customer complaints / low NPS, Equipment or supply chain failure, High food or product waste

What Would Make You Walk Away?

• Name one non‑negotiable condition that would instantly stop you from moving forward.
• Which of the following are deal‑breakers for this expansion? Options: Rent‑to‑revenue above acceptable range, No exclusive territory, Insufficient parking or access, Signage limitations, Unclear permitting path, Lack of financing options
• What's the highest rent‑to‑revenue you’d tolerate under extreme circumstances? Options: <8%, 8–10%, 10–12%, 12–15%, >15%
• Would you walk away if the brand declined to provide the incentives we requested? Options: Yes, Maybe with other concessions, No
• Which concessions are you willing to trade to keep the deal alive (choose all that apply)? Options: Reduced franchise fee, Longer construction timeline, Higher initial contribution to marketing, Accept stricter opening penalties, Other

How Do You Want Us to Work With You?

• If we were impossible to work with, what would we be doing wrong—what behavior would make you pull away?
• What communication cadence do you prefer during discovery and up to LOI? Options: Weekly, Bi‑weekly, Ad hoc / as needed, Monthly
• Who from your organization should be the primary point of contact for development conversations? Options: Owner / Principal, Development lead, Local broker, Investor representative, Other (name & role)
• What level of LOI negotiation authority should the broker or local rep have? Options: Full authority to execute within limits, Negotiate but require approvals for binding terms, No execution authority — approvals required for all terms, Other
• Which brand supports will matter most to you during development (pick up to three)? Options: Dedicated project manager, Preferred contractor list, Permitting guidance / checklist, Onsite training team, Pre‑opening marketing package, Construction inspections
• How would you like to receive the territory model and pro forma deliverables? Options: Interactive spreadsheet (editable), PDF executive summary, Live walkthrough with model owner, All of the above

Quick Snapshot: Who You Are Right Now

• Which best describes your operator profile today? Options: Aspiring franchisee / first unit, Single-unit owner, Multi-unit operator (2–9), Multi-unit operator (10–29), Multi-unit operator (30+), Investor/developer, Company-operated developer
• Roughly how many locations do you currently operate under this brand (or related concepts)? Options: None, 1–4, 5–14, 15–29, 30+
• Please enter the exact number of units you operate and the single best contact who manages development (name & role).
• What is your most recent trailing-12-month average unit-level EBITDA margin (choose range)? Options: Negative / loss, 0–4%, 5–9%, 10–14%, 15%+
• If you have a typical annual sales figure per unit, please state that average here (USD).
• Give a short description of your ownership structure (single owner, partners, private equity, family office, etc.).

If We Put Your Unit Economics Under a Microscope, What Would Surprise Us?

• What single line item on your P&L would surprise your investors if it shifted 2–3% tomorrow? Options: Labor, COGS / food, Rent, Royalties/fees, Marketing, Utilities, Other
• How much does unit performance vary inside your portfolio between top- and bottom-performing locations (approx. percentage difference)? Options: <10%, 10–25%, 25–50%, 50%+
• Describe one high-performing location and one underperforming location—what does the P&L story say about each?
• Which cost pressures are most likely to erode your margins for new builds in the next 12–24 months? Options: Labor, Food/COGS, Rent, Financing costs, Supply chain shortages, Regulatory/compliance costs, Other
• How do you typically model sales ramp for a new unit (select closest timeframe to break-even or stabilized EBITDA)? Options: 3–6 months, 6–12 months, 12–18 months, 18–24 months, 24+ months
• Give an example of a recent opening where your ramp assumptions were wrong—what happened and why?

How Tight Is Your Territory Belt? Where Has Space Been Lost or Won?

• If we mapped your footprint today, which markets or DMAs would we see the most concentration in?
• What average drive-time or trade-area radius do you assume when sizing a new unit (select closest)? Options: 0–1 mile / hyperlocal, 1–3 miles, 3–5 miles, 5–10 miles, 10+ miles
• Have recent openings created measurable cannibalization among your units? Options: Frequently, Occasionally, Rarely, Never
• If you answered occasionally or frequently, describe a specific instance—how much overlap and what was the financial impact?
• What competitive intensity do you see in a typical target trade area (direct competitors within 3 miles)? Options: 0–2 direct competitors, 3–5, 6–10, 10+
• Name 2–3 competitors or concepts that regularly impact your unit performance in your best and worst markets.

What Would Make Your CFO Sleep Easier About New Sites?

• What is your current average rent-to-revenue ratio across units (select range)? Options: <5%, 5–8%, 8–10%, 10–12%, 12%+
• What maximum rent-to-revenue percentage would you accept for a new site in this market? Options: <5%, 5–8%, 8–10%, 10–12%, 12%+
• How open are you to rent structures that include percentage rent, gross sales components, or operating expense pass-throughs? Options: Prefer fixed base rent, Open to percentage rent, Hybrid deals acceptable, Case-by-case only
• Which landlord concessions materially change the economics enough to say ‘yes’ (pick all that apply)? Options: TI allowance (dollar amount), Rent abatement / free months, Construction contribution, Tenant improvement schedule flexibility, Reduced franchise fee / incentive, None
• What minimum committed unit count (over X years) makes a territory attractive to you for dedicated capital deployment? Options: 1, 2–3, 4–7, 8–12, 12+
• If you could change one financial assumption the brand always uses (royalty, marketing fund, item in FDD), what would it be and why?

What’s Already Committed, and Where Do Bottlenecks Usually Live?

• Have you historically received development incentives or fee concessions from the franchisor or brand (select all that apply)? Options: Reduced franchise fee, Rebates on royalties, Development or marketing incentives, Construction reimbursement, No incentives received
• If you have received incentives, describe the structure and any performance covenants tied to them.
• How long does it typically take you from LOI or site selection to grand opening for a standard unit in months? Options: <6 months, 6–9 months, 9–12 months, 12–18 months, 18+ months
• What are the three most common causes of construction or permitting delays you’ve encountered?
• Do you primarily source brokers/land through your own network or rely on brand-sourced leads? Options: Primarily own broker network, Primarily brand-provided leads, Combination of both, I do not work with brokers
• List any landlord or municipal relationships that have sped projects up (name & role).

Where Do You Feel the Most Pressure — Capacity, Capital, or Compliance?

• Which of the following constraints most limit your ability to expand right now (pick up to three)? Options: Construction bandwidth, Access to capital / financing, Site availability, Permitting / zoning delays, Talent availability, Franchisor approvals, Operational management bandwidth
• How many simultaneous build projects can your team realistically manage without adding headcount? Options: 0, 1, 2–3, 4–6, 7+
• When you do take on multiple projects, which role becomes the bottleneck most often (construction PM, operations lead, finance, HR)? Options: Construction PM, Operations lead / training, Finance / treasury, HR / recruiting, Franchisor approvals
• What positions or skills do you struggle to recruit for when preparing openings? Options: Store manager, Assistant manager/shift lead, Kitchen staff, Regional operations manager, Construction superintendent, Other
• Tell us about a moment when resource constraints forced you to delay or cancel an opening—what was the trigger?

Imagine Winning This Market — What Actually Changes?

• What committed unit count would represent a successful market penetration for you in the next 3 years? Options: 1, 2–3, 4–7, 8–12, 12+
• What average annual sales per unit do you realistically expect in this territory (select range)? Options: <250k, 250k–499k, 500k–749k, 750k–999k, 1M+
• What rent-to-revenue target will you present to your investment committee as acceptable to hit those sales targets? Options: <5%, 5–8%, 8–10%, 10–12%, 12%+
• What three metrics would you use to prove success at 6, 12, and 24 months (e.g., sales, EBITDA, retention)?
• Who are the decision makers or committees that must approve capital deployment (list roles and any approval thresholds)?
• If the brand could guarantee one thing to reduce your risk, what would it be (site quality, capped rent, construction timeline, financing help)? Options: Guaranteed site score threshold, Maximum rent-to-revenue cap, Fixed construction timetable with penalties, Financing referrals or commitments, Other

Let's Be Real — Are You Ready to Move?

• Do you have capital committed for the first unit in this territory? Options: Yes—fully funded, Partially committed, No—seeking debt/equity, Prefer franchisor financing referrals
• What is your preferred timeline from LOI to opening for the first unit? Options: <3 months, 3–6 months, 6–9 months, 9–12 months, 12+ months
• Which franchisor/brand supports do you consider essential to make this timeline realistic (pick all that apply)? Options: Site selection, Lease negotiation, Construction oversight, Project management, Training & recruiting, Marketing / grand opening support, Financing referrals
• What would be a non-negotiable deal breaker for you in this territory opportunity? Options: Rent above threshold, Insufficient market density, Excessive competition, Inability to secure financing, Unclear franchisor commitments, Other
• If you selected 'Other' or want to elaborate on deal breakers, please describe them here.

Proof, References, and Past Lessons — What Will Help Us Validate Quickly?

• Are you willing to share Item 19 / P&L or redacted unit financials for validation? Options: Yes—full financials, Yes—redacted summaries, No, not at this stage, Need NDA first
• Please list 2–3 references we can contact (existing franchisees, landlords, lenders) including name, role, and relation to you.
• Have you been approached by competing franchisors or developers for the same trade areas within the past 12 months? Options: Yes—multiple offers, Yes—one offer, No
• Do you have any outstanding legal, lender, or franchise-relationship encumbrances that would affect expansion timing or approval? Options: None, Pending litigation, Loan covenants restricting expansion, Franchise disputes / arbitration, Other
• If any encumbrances apply, please summarize their nature and expected resolution timeline.

Next Steps: What Would Make This Conversation Truly Helpful?

• If we could return one piece of value immediately after this discovery, which would be most useful to you? Options: Market penetration model & Item 19 overlay, List of qualified brokers/landlords in target DMA, Preliminary rent-to-revenue sensitivity analysis, Introductions to preferred lenders, Site-scoring for 3 candidate locations
• How would you prefer we validate assumptions—call with your CFO, share documents, or onsite visit? Options: Call with CFO/finance, Share documents securely, Schedule onsite market visit, All of the above, Other
• Realistically, when can you commit to a brief follow-up meeting to review a modeled territory (choose timing)? Options: Within 1 week, 1–2 weeks, 2–4 weeks, Later than 1 month
• Is there any additional context we should know before building a territory model or making introductions?

Start Here: Tell Us About You

• Which description best fits your operating profile right now? Options: New entrant (capital, no brand operating history), Single-unit operator, Multi-unit operator (2–5 locations), Multi-unit operator (6–15 locations), Multi-unit operator (16+ locations), Private equity / operator group, Company-owned development team
• How many units do you currently own or operate? Options: None, 1, 2–5, 6–15, 16–50, 51+
• What is your typical average annual sales per unit (approx)? Options: Under $300k, $300k–$600k, $600k–$900k, $900k–$1.2M, Over $1.2M, Unsure
• Approximately what unit-level EBITDA margin are you running today? Options: Negative / early-stage, 0–5%, 6–10%, 11–15%, Over 15%, Prefer not to say
• What is your internal timeline for making a decision about pursuing this territory? Options: Immediate (within 30 days), Short (30–90 days), Medium (3–6 months), Long (6–12 months), No set timeline / exploratory
• Who will need to say 'yes' before you commit capital for new development? (select all that apply) Options: Founder / CEO, CFO / Finance lead, Land committee, External investors / LPs, Bank lender / credit committee, Franchise board / corporate approvals, Other decision-maker
• In a few sentences, tell us what would need to be true for you to feel confident saying 'we're in' on this territory.

What Keeps You Up at Night About New Territories?

• When you imagine opening in a brand-new territory, what single outcome scares you the most? Options: Underperforming sales, Inability to secure viable real estate, Construction or permitting delays, Financing falling through, Poor local operator performance, Unexpected competition
• How often have those fears shown up in past expansion efforts (if any)? Options: Almost always, Often, Occasionally, Rarely, Never / no prior expansions
• Tell us about a past opening or market entry that didn’t go as planned — what happened and what frustrated you most?
• How long has this particular concern been influencing how you evaluate new territories? Options: This is a new concern, Less than 1 year, 1–3 years, 3–5 years, More than 5 years
• What mitigation strategies have you used before to reduce that risk (select all that apply)? Options: Tighter site selection criteria, Larger build-out budgets, Longer ramp assumptions, Partnering with local operators, Requesting development incentives, Not expanding into similar markets
• How would you want our development team to change the way this risk is managed for you?

How Real Is This Opportunity?

• If the demographic map you’re counting on shifted by 20% lower density, how would that change your appetite for the territory? Options: Walk away, Reduce committed unit count, Require higher incentives, Proceed with more conservative assumptions, Would need to re-evaluate with more data
• What committed unit count are you considering for this territory today? Options: 1, 2–3, 4–6, 7–10, 10+
• What is your acceptable rent-to-revenue ratio threshold for a typical first-year site? Options: Under 6%, 6–8%, 8–10%, 10–12%, Over 12%, Depends on location
• How do you validate sales expectations—do you rely more on Item 19 benchmarks, operator comparables, proprietary models, or on-the-ground validation calls? Options: Item 19 / franchisor disclosures, Comparables from our portfolio, Third-party market models, Calls with local franchisees, Site-level traffic & pedestrian counts, Combination
• Which competitive dynamics worry you most in a new trade area? Options: Too many direct competitors, Strong incumbent national brand, Discount or value players, Delivery saturation, Retail vacancy / poor co-tenancy, None of the above
• Describe the demographic density or customer profile you believe is required for success in this territory (age, household income, daytime population, etc.).

Show Me the Money (and the Pain If It’s Wrong)

• If actual sales landed 20% below your model in year one, what would be your immediate next move? Options: Cut costs and operate, Seek temporary landlord concessions, Delay additional units, Sell or exit, Request franchisor support
• How many months of operating losses can you comfortably absorb before needing remedial action? Options: 0–3 months, 4–6 months, 7–12 months, 12–18 months, 18+ months
• What break-even timeline do you model for a new unit (months to positive cash flow)? Options: Under 6 months, 6–9 months, 9–12 months, 12–18 months, 18+ months
• Which ramp curve do you assume when modeling a conservative market entry? Options: Fast (optimistic), Realistic (median), Conservative (slow ramp), I model multiple scenarios
• What financing is already committed or likely (select all that apply)? Options: Cash / operator capital, SBA loan, Conventional bank loan, Investor / JV equity, Seller financing, No financing yet
• If you needed development incentives to proceed, which would move the needle most for you? Options: Reduced franchise fee, Rent abatement / landlord contributions, Construction allowance, Marketing or royalty relief, Financing referrals / lender introductions

Who Holds the Key?

• Who in your decision chain has the authority to sign an LOI or commit to site control without additional approvals? Options: Founder / sole owner, CFO with limits, Land committee chair, Investor representative, No one — requires board/committee approval
• Which stakeholders would veto a project even if the financials looked reasonable? Options: Investor / LP, Bank / lender, Land committee, Local partner, Family/owner group, None
• What criteria must be satisfied at that committee or investor meeting to secure a 'yes'? Options: Projected payback period, Validated local comps, Signed LOI or site control, Permitting plan in place, Financing commitments, Other
• How long does your internal approval process typically take from LOI to capital commitment? Options: Under 2 weeks, 2–4 weeks, 1–2 months, 2–3 months, 3+ months
• Describe any governance or investor constraints we should be aware of (reporting, return hurdles, board review cadence, etc.).

How Do You Want Us to Work With You?

• Would you prefer the franchisor to drive site selection or to work in an advisory role while you keep final choice? Options: Franchisor-driven (turnkey support), Advisory collaboration, We lead, franchisor supports on request, Unsure / depends on market
• Which development services would be most valuable to you (pick top three)? Options: Broker introductions, Site scoring & shortlist, Construction management, Permitting assistance, Preferred contractor referrals, Pre-opening hiring & training, Marketing / grand opening plan
• How involved do you want franchisor field teams to be in the first 90 days after opening? Options: Daily on-site support, Weekly check-ins + periodic visits, Remote support with scheduled visits, Minimal involvement —handle internally
• What level of financial transparency do you expect from the franchisor during development (detailed cost breakdowns, model sensitivity, incentive terms)? Options: Full detailed transparency, High-level with key assumptions, Only what is contractually required, Unsure
• Tell us one way we could make the expansion process noticeably easier for you.

Real Estate & Site Selection: What’s Non-Negotiable?

• Would you walk away from a site that meets sales modeling but fails on any one of your real estate hard rules? Options: Yes — strict non-negotiables, No — willing to accept trade-offs with concessions, Depends on which rule is broken
• Which site attributes are absolute must-haves for you (select all that apply)? Options: Visibility from main road, Dedicated parking / parking ratio, Signage rights, Access to delivery routes, Proximity to target demographics, Co-tenancy with strong retail anchors, Zoning for proposed use
• What minimum daytime / pedestrian traffic or household density do you want us to target (describe numbers or ranges)?
• What signage and exterior presence requirements are non-negotiable for your brand standards? Options: Large pylon signage, Building-mounted sign, Awning / storefront signage, No specific signage needs, Other
• How important is co-tenancy versus pure traffic counts when you evaluate a site? Options: Co-tenancy matters more, Traffic counts matter more, Both equally important, Depends on site type
• Describe any past site selection lessons that have shaped what you now refuse to accept.

Next Steps and Commitment Signals

• What's the smallest, fastest deliverable from our team that would increase your confidence to move forward? Options: Pipeline of 3–5 scored sites, Third-party market validation, Preliminary financial model with sensitivity, Intro to an SBA lender, Draft LOI template
• How soon would you be willing to sign an LOI if a site met all your criteria and economics aligned? Options: Immediately (same day), Within 1 week, 1–2 weeks, 2–4 weeks, Longer / depends on approvals
• Who needs to attend a site tour or validation call for you to feel comfortable advancing? Options: Founder / owner, CFO / finance lead, Investor representative, Local operations lead, Franchisor rep, Other
• What are the top three unresolved barriers that would stop you from committing in the next 90 days?
• Emotion check: given everything we've discussed, how are you feeling about this opportunity right now? Options: Confident and ready, Interested but cautious, Skeptical, Overwhelmed / need more info, Not interested
• If we could do one practical thing for you in the next 7 days, what would be most helpful?

Tell Us About You (Quick Wins)

• Which best describes your role and relationship to capital for new units? Options: Multi-unit operator, Single-unit owner, New entrant / investor, Developer/operator, Private equity / investment group, Other
• How many operating units do you currently own or control? Options: 0 (no operating history), 1–4, 5–14, 15–49, 50+
• Please list exact unit count and brand breakdown (free response)
• How would you describe your typical EBITDA margin across your portfolio? Options: <0%, 0–5%, 5–10%, 10–15%, 15%+
• If you selected a range above, what is your trailing twelve-month EBITDA % exactly?
• What's your average unit sales (AUV) or average weekly sales for a stabilized location?
• Which types of market expansions have you executed previously? Options: Same-state growth, Adjacent metro expansion, New state entry, Company-owned to franchise conversion, No prior expansion experience

Are We Solving the Right Problem?

• When you say 'grow' or 'expand', what is the deeper problem you're trying to solve—more revenue, risk diversification, valuation uplift, or keeping pace with competitors? Options: Increase revenue, Diversify risk, Improve company valuation, Respond to competitive pressure, Create exit value, Other
• Which one KPI would make you stop and say 'this expansion is working'? Options: Payback months, Unit-level EBITDA margin, Committed unit count, AUV vs. target, Market share / penetration
• Tell us about a past expansion that looked promising but didn’t meet expectations—what specifically went wrong?
• Which of these trade-offs are you explicitly willing to accept to accelerate openings? Options: Higher initial rent, Longer payback timeline, Smaller first-year margins, More hands-on franchisor support, Accept some cannibalization
• How emotionally important is maintaining strict brand consistency compared with launching quickly into a new market? Options: Consistency is paramount, Lean toward consistency but flexible, Balance equally, Speed-to-market is more important
• If this expansion fails, who or what in your organization would feel the impact most—and how would that show up?

Where You Stand Today — The Hard Numbers

• If we modeled your expansion using your worst real-world month, would the plan still hold? Options: Yes, No, Unsure — need to model
• What rent-to-revenue percentage do you need to see to be comfortable with a new leased location? Options: <6%, 6–8%, 8–10%, 10–12%, 12%+
• What minimum AUV (annual or weekly) must a territory support per unit for you to proceed?
• How many committed units are you targeting in this territory over the next 36 months? Options: 1, 2–4, 5–9, 10+
• What ramp curve do you realistically model for a new unit (months to break-even and months to maturity)? Options: Break-even 3–6 / mature 12, Break-even 6–9 / mature 18, Break-even 9–12 / mature 24, Other
• If traffic or sales are 20% lower than your model, which assumptions are you most willing to change?
• Do you have any existing territory financial models (pro forma, sensitivity cases) we should review? Options: Yes — full model available, Partial model / summary, No model yet

Real Estate Reality Check

• Have you been politely optimistic about finding sites under 10% rent-to-revenue—and if that proves impossible, what’s your Plan B?
• Which site types are you actively willing to consider for openings in this territory? Options: Inline retail, Endcap, Pad/site, Neighborhood center, Regional mall/strip, Mixed-use development, Ghost kitchen / food hall
• What minimum trade-area population or daytime density do you require for a committed unit? Options: <5,000, 5,000–15,000, 15,000–50,000, 50,000+
• How many direct competing concepts within a 1-mile radius would make you decline a site? Options: 0–1, 2–3, 4–6, 7+
• What site score threshold (0–100) from our selection tool would you accept without further negotiation? Options: 85–100, 70–84, 60–69, <60
• Describe the non-negotiable real estate criteria for you (parking, visibility, drive-thru, co-tenancy, accessibility, etc.).
• Which lease deal points give you the most concern during negotiation? Options: Rent escalation structure, NNN pass-throughs, Exclusive use clauses, Early termination / assignment limits, Tenant improvement allowances, Percentage rent

Financing & Land Committee — Who Says Yes?

• If your backers said 'not today,' what single piece of evidence or change would flip them to 'yes'?
• Who has final sign-off for committing equity or debt to a new territory? Options: Owner/operator, Land committee, Investor LPs, Bank/lender, Franchise advisory board, Other
• Which financing sources are you expecting to use for development capital? Options: SBA / government-backed loan, Bank term loan, Private equity / LPs, Seller financing, Cash reserves, Other
• What is your budgeted development cost per unit (ballpark)? Options: <$200k, $200k–$400k, $400k–$800k, $800k+
• What materials or approvals does your land committee require before issuing a go/no-go (e.g., pro forma, Item 19 calls, site visits)? Options: Full pro forma / sensitivity, Item 19 and franchisee calls, Site visit and broker report, GC estimate and permit plan, Credit package
• Are there investor return hurdles we should optimize for (IRR target, payback months, minimum EBITDA)? Please specify.

Operational Readiness & Support Needs

• What parts of opening have consistently surprised you or delayed past launches?
• Which opening tasks do you want the franchisor/development team to fully own? Options: Site selection, Lease negotiation, Permitting assistance, Construction management, Equipment procurement, Staffing & training, Grand opening marketing
• How do you prefer training to be delivered for new sites? Options: On-site certified trainer, Virtual instructor-led, Self-paced e-learning, Blended approach, Train-the-trainer (internal)
• What staffing model will you operate at new locations? Options: Owner-operator, Full-time store manager, Area manager overseeing multiple units, Third-party operator / management company, Other
• What minimum percentage of staff training completion do you require before opening? Options: 100%, 90%, 75%, No strict minimum
• How long do you expect construction from permit to turnover to typically take in these markets? Options: 3–6 months, 6–9 months, 9–12 months, 12+ months
• Do you have preferred contractors, or do you require us to use franchisor-preferred vendors? Options: We have preferred contractors, We will use franchisor-preferred vendors, Open to either, No preference

Competition & Territory Signals

• If a well-funded competitor entered your target trade area tomorrow, what would you change about your rollout?
• Which competitive attributes worry you most in a new territory? Options: Delivery and aggregation apps, Aggressive pricing, Loyalty program strength, Superior real estate locations, Menu overlap, Local operator relationships
• Which customer personas drive your best unit performance? Options: Commuters, Families, Students, Office workers, Tourists, Retirees, Other
• What percent of expected sales do you assume will be cannibalized from existing units versus net new demand? Options: <5%, 5–15%, 15–30%, 30%+
• Which data sources do you trust most for demographic, traffic, and competitive validation? Options: Franchisor proprietary tools, Esri / Placer.ai / third-party mobility, Broker reports, Municipal / planning data, Local operator intelligence
• How many reference conversations with current franchisees/operators would make you comfortable moving forward? Options: 0, 1–3, 4–6, 7–10, 10+

Commitment & Next Steps — What Would Make You Say Yes?

• What single, specific thing would make you commit capital to this territory today?
• Which incentives would meaningfully shift your decision toward committing now? Options: Reduced franchise fee, Development fee credit, Rent support / contribution, Marketing co-op support, Preferred financing referral, None of the above
• What penalties for missed openings are you unwilling to accept or would negotiate hard on?
• Would you be willing to sign a non-binding LOI to hold a site while you complete diligence? Options: Yes, Maybe — with terms, No
• Who needs to be included in the next 2-week follow-up meeting from your side? Options: Owner, CFO / Financial lead, Land committee representative, Broker, Lender / financing partner, Legal counsel, Other
• By what date would you like us to deliver a modeled pro forma and a 2–3 site shortlist? Options: Within 1 week, Within 2 weeks, Within 1 month, Longer than 1 month
• Any final concerns, red flags, or constraints we should know before building the territory model?