It's widely known that small businesses are doing it tough in Australia at the moment whether they are independent or franchisees. The ABS reported that 60% fail in the first 3 years and that was reported in 2015, there is no doubt the situation are worst now and that's why RFG are doing an independent business review starting mid to late last year and I suspect there will be more than the planned 200 outlet to be closed this year (it will be close to 700 in the next few years). No doubt this will eat big time into their revenues but it will bring the focus to the other franchisees that aren't struggling allowing them to continue to increase their profit, the market will re-evaluate their MC which they have and are doing from the $1B+ company a few years ago to maybe around $300M (IMO).
By all accounts, RFG has 1500 current outlet domestically and last reported around 300 current or existing franchisees have sign-up to the CA (this hasn't been verified but it was mentioned on HC) which is at most 20% of the current outlets (likely lower as you would think a majority are existing franchisees).
https://www.huffingtonpost.com.au/2015/09/28/small-business-failure_n_8187166.html
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