Refranchising Restaurants

i focused on consumer most of my career. I find consumer businesses are just easier for me to under stand. So what i saw with applebys was there casual dining was was taken a digger. It was weak. They had relatively weak results. But if you peel back the onion, i think it was something like they were in a 60 forty company on versus franchise, or 70 30. And so i lookd at em like, look, you're trading for seven times eveta if you do refranchising. Now yourk you're going to be worth more, literally, overnight. Your cashflow is going to improve. By the way, the operators are all doing a better