Franchise Brands shares have halved since their peak in March 2023 as the market attempts to digest the impact of poor macroeconomic conditions alongside higher debt post acquisitions and a potential move to the main market. Given the defensive nature of the services provided by the group’s franchised network and the cash flow, margin and ROCE benefits of the franchise model we believe the shares are fundamentally more attractive than most quoted groups which are based on corporate models and si ....
