When Multi-Unit Operators Buy the Brand: The Rise of Franchisee-to-Franchisor Conversions
When Multi-Unit Operators Buy the Brand: The Rise of Franchisee-to-Franchisor Conversions By Joe Caruso In 2025 and early 2026, a notable shift accelerated across franchising. Sophisticated multi-unit operators began acquiring the very brands they once operated as franchisees. These were not opportunistic roll-ups or financial engineering plays. They were operator-led acquisitions driven by a conviction…


