Insights from the October 23, 2025, Succession & Retirement Summit Featuring Robin Gagnon of We Sell Restaurants
As the wave of Baby Boomer retirements crests, in a wave frequently referred to as the "Silver Tsunami”, franchise owners face a stark truth: succession planning isn't a luxury; it's the key to safeguarding decades of hard work. Yesterday's “Win the Transition: Secure Your Legacy” webinar, hosted by Ruzanna Queenan, CFA, of Queenvest LLC, assembled a powerhouse panel of experts in valuation, tax, governance, law, philanthropy, and brokerage. Drawing from real-world franchise challenges, they unpacked strategies for protecting value, fostering family harmony, and ensuring smooth exits.
A Case Study: The Story of Amelia Delia
To make the topic relatable, the Summit followed the case of Amelia Delia, a fictionalized composite of real franchise operators. Amelia, 61, built Healthy Lifestyle Brands LLC, an $18.5-million enterprise spanning 20 smoothie franchises, four yoga studios, and four med spas. Now facing a health diagnosis, Amelia and her husband John are planning their next chapter while balancing retirement income, family harmony, and business continuity.
Amelia’s journey mirrors the dilemmas of countless multi-unit operators. Now confronting a health diagnosis, she's eyeing a 3 to 5-year leadership transition while prioritizing financial independence, equitable distribution of her estate and fairness for her children (Karen, 31, a potential successor with limited experience; and Tom, 25, in a tech career), while balancing business continuity. Her strong leadership team offers a solid foundation, though the CFO's impending retirement in five years adds urgency.
Through Amelia's story, the panel illustrated how integrated planning turns potential pitfalls including like family conflict or undervalued assets, into opportunities for enduring impact.
Ruzanna Queenan: Crafting a Retirement System That Sustains Legacy
Ruzanna Queenan, a Chartered Financial Analyst and founder of Queenvest LLC, opened the session by grounding the conversation in financial fundamentals. “Retirement isn’t about your net worth, it’s about turning assets into predictable, sustainable income,” she explained. Her advice emphasized coordination among tax, investment, and withdrawal strategies before retirement, not after.
Queenan's analysis of Amelia's personal finances painted a vivid picture: a $1.5 million primary home in Florida, three income-generating condo investments, $367,000 in Amelia's 401(k), $225,000 in John's Roth IRA, and $72,000 in cash reserves, against a $250,000 annual spending need. She described a “Retirement Framework” around lifestyle, protection, and legacy, which guides owners to layer strategies like diversified withdrawals, insurance, and gifting.
For Amelia, Queenan outlined four forward paths: partial transfer to Karen; full sale with gifted funds for her to buy a unit; a Family Limited Partnership (FLP) for both children; or hybrid options blending sale and retention. The optimal route? Sell the smoothie and yoga/Pilates divisions over two years, retain the med spas as a family legacy brand under Karen's gradual control, and deploy proceeds to fund retirement, equalize Tom's inheritance, and seed a Family Legacy Trust. As Amelia reflected, "This approach gives us freedom, fairness, and family continuity, but only if we manage the transition with clarity and structure.”
Queenan's call to action: Start with a holistic “retirement system” integrating tax-efficient sales, investment alignment, and withdrawal sequencing, far before the need for selling the business arises or the first offer lands.
Kendall Rawls: Succession as a Deliberate Leadership Pipeline
Kendall Rawls of The Rawls Group shifted focus to the human element: "Leadership transitions are built through intentional development, not announced at the last minute." In Amelia's case, preparing Karen without sidelining Tom or disrupting operations demands robust family governance.
Rawls advocated for phased successor development—mentoring, responsibility handoffs, and exposure to high-stakes decisions—while formalizing CEO and CFO transitions. Key tools include family governance agreements that define roles, conflict resolution, and shared values, preventing the "culture shock" that derails 70% of family business handovers.
Her insight for franchisees: Treat succession like your next growth phase. By embedding governance early, owners like Amelia can test Karen's readiness, retain top talent amid the CFO's exit, and foster unity—turning potential friction into a competitive edge.
Michael Einbinder: Navigating the Legal Maze of Franchise Transfers
Michael Einbinder, Partner at Einbinder, Dunn, Dimitri & Bayer LLP, delivered a sobering reminder: "Your franchise agreements govern your succession planning, ignore them at your peril." He urged immediate review of rights under these contracts, alongside corporate documents, leases, and financing.
Einbinder's blueprint for smooth transitions: Consult franchisors early to align on approvals, assess lease transferability (critical for Amelia's studio and spa locations), and build a timeline that anticipates retirement by years, not months. "Plan well ahead," he stressed, "to avoid delays that erode value or trigger penalties."
For multi-unit operators, his advice is proactive: Document everything, stress-test obligations, and involve legal counsel from day one. This not only accelerates deals but fortifies the business against unforeseen challenges.
Aaron Chaitovsky: Unlocking Tax Efficiency in Valuations and Exits
Aaron Chaitovsky, Partner at Citrin Cooperman and head of its Franchise Practice, demystified the tax labyrinth: "Valuations aren't guesses—they're the foundation for minimizing gift, capital gains, income, and estate taxes." Working with hundreds of franchised clients, he stressed realism: "A business built to sell will always outperform one built to operate."
In Amelia's scenario, Chaitovsky highlighted strategies like pre-sale gifting to Karen (capped by annual exclusions) and installment sales to defer gains, potentially saving millions. He broke down the "big four" taxes, urging integration with valuation experts to capture $18.5 million's true worth factoring in franchise multiples, recurring revenue, and growth potential.
His golden rule: Assemble your tax team pre-listing. Transparency in books unlocks SBA financing and premium bids, turning compliance into a value multiplier.
Paul Yeghiayan: Philanthropy as the Glue for Family Legacy
Paul Yeghiayan of Benefactor Group elevated the conversation beyond dollars: "Philanthropy isn't an afterthought, it's a governance tool that aligns family values and sustains impact post-transition." For Amelia, weaving giving into estate equalization could unite Karen and Tom around shared causes, like health initiatives tied to the business.
Yeghiayan's process starts with clarifying intent (values, causes), setting targets (e.g., 5% of proceeds now/next/later), and mapping assets to vehicles like Donor-Advised Funds (DAFs) for flexibility. He outlined a First-Year Action Checklist: Open a DAF; draft a one-page Giving Brief; publish a policy; convene a "Gift Planning Table" with advisors; approve due diligence tiers; launch 3–5 pilot grants; and schedule event-driven reviews.
As a philanthropic advisor, Yeghiayan convenes teams, coordinates sequencing, tracks decisions in a log, and facilitates family engagement—preventing silos while measuring success via 3–4 metrics. "Decide together," he said, "to build momentum and light governance that endures."
Robin Gagnon: The Deal Reality: Where Planning Collides with the Market
Special guest Robin Gagnon, CEO and Co-Founder of We Sell Restaurants, grounded the idealism in deal-floor grit. "At the deal table, planning meets reality," she said. "Some businesses are built for transfer; others, only for today." With her firm's nationwide brokerage expertise, Gagnon revealed what buyers crave: confidence in owner-independent operations, accurate books, franchisor buy-in, and predictability.
Her Tale of Two Exits contrasted a prepared seller who closed in 72 days at full value after three years of planning, with one who procrastinated, facing value erosion from sloppy leases and docs. "The day you open your doors, you’re already working toward your exit—whether that’s in one year or twenty," she quipped.
Market intel was bullish: Strong demand for operating units, steady multiples for high performers, robust SBA lending (if books are clean), and fast-moving multi-unit buyers chasing turnkeys with proven tracks. To build sellability now: Maintain pristine financials, stable staffing, flexible leases, and open franchisor dialogue.
Gagnon's mic-drop: "Succession planning isn’t just about retirement—it’s wealth protection. Operate as if you’ll sell tomorrow."
The Multi-Disciplinary Symphony: A Strategic Path Forward
The panel's synergy shone in Amelia's optimized plan: Sell non-core divisions for liquidity, empower Karen in the med spas, equalize via trusts and philanthropy, and layer tax/legal safeguards. As Queenan wrapped, "Succession is a process, not an event—start years early with valuation, leadership clarity, and an aligned advisory team."
Key Takeaways: Golden Nuggets from the Experts
Why This Matters Now—and Next Steps
With retirements accelerating, franchisors demand formalized pathways to maintain brand strength. For restaurant and wellness operators like Amelia, early action preserves equity and continuity. As Gagnon urged, "Timing is everything—plan to protect your legacy."
About the Experts:
- Ruzanna Queenan, CFA, Queenvest LLC: Wealth strategies for exiting owners.
- Aaron Chaitovsky, Citrin Cooperman: Franchise tax and valuation authority.
- Kendall Rawls, The Rawls Group: Family business succession architect.
- Michael Einbinder, Einbinder, Dunn, Dimitri & Bayer LLP: Franchise legal specialist.
- Paul Yeghiayan, CFRE, CSPG, Benefactor Group: Philanthropic legacy designer.
- Robin Gagnon, We Sell Restaurants: Premier restaurant brokerage leader.
Succession isn’t goodbye, it’s just good stewardship. Secure yours today, and watch your legacy thrive tomorrow. For a valuation on your restaurant business, visit We Sell Restaurants at wesellrestaurants.com.