31 Jul Acquiring Minds: Buying a $200m Franchisor (Not Units, the Whole System)
When today’s guests set out to buy a business, they first systematically developed a thesis. Both with private equity backgrounds, brothers Tyler and Zach Gordon combed through lists of industries, looking for ones with great fundamentals but not yet on Private Equity’s radar. The process led them to a franchise system of thrift stores. But the subject of today’s interview is how our heroes ended up buying not units in the system, but the system itself. So this is a story, our first, of buying a franchisor, a system with about 200 thrift stores that collectively generated about $200m in sales when Tyler and Zach bought it. And here they are, Tyler Gordon and Zach Gordon, co-CEOs of BaseCamp Franchising.
