The second day of the Restaurant Finance & Development Conference (RFDC) delivered a full schedule of high-impact sessions that kept the conversation focused on the future of restaurant growth, financing, and dealmaking. For We Sell Restaurants, the discussions reinforced how data, disciplined operations, and well-timed exits remain the cornerstone of success for restaurant owners, franchisors, and investors alike.

Representing the nation’s leading restaurant brokerage brand, Robin Gagnon, Eric Gagnon, Dave McDougal, and Steve Weinbaum continued their presence at the Bellagio in Las Vegas, connecting with lenders, franchisors, and multi-unit operators navigating today’s complex capital environment.

A Powerful Start: Breakfast and the State of the Industry

The morning began with the RFDC Opening Breakfast and a packed ballroom eager for the “Around the Restaurant Industry in 60 Minutes” session. Moderator Fred LeFranc of Results Thru Strategy guided a rapid-fire conversation featuring some of the sharpest minds analyzing industry data, from Deutsche Bank’s Lauren Silberman and J.P. Morgan’s John Ivankoe.

The panel captured the current pulse of the industry: restaurants remain a vibrant, resilient sector, but capital efficiency and brand clarity are becoming non-negotiable. For We Sell Restaurants, these insights validate what we’re seeing in the field. Restaurants that understand their operating metrics, manage costs with precision, and present transparent financials are the ones that sell quickly and command premium value.

Following the fast-paced industry overview, Dr. Nela Richardson, Chief Economist at ADP, provided a Labor Market Update that tied macro-economic forces directly to restaurant performance. With workforce participation improving and wage growth stabilizing, her data pointed to cautious optimism for operators entering 2026. For sellers, that means a more predictable cost environment. For buyers, it signals opportunity to acquire established operations before inflationary pressures re-emerge.

CFO Insight: Shake Shack’s Growth Playbook

A standout moment came when Katie Fogertey, CFO of Shake Shack, sat down with Aprio’s Dana Zukofsky for an engaging fireside discussion. Fogertey shared how Shake Shack is balancing rapid unit expansion with operational discipline, an equation familiar to many franchisors and operators in attendance.

Her remarks on brand integrity and data-driven decision-making resonated strongly with We Sell Restaurants’ franchisor partners, many of whom are building similar playbooks for sustainable growth through strong unit-level performance and clear resale pathways. Fogertey emphasized the importance of strategic transparency with investors and operators alike, a principle equally essential in the resale process, where trust, accurate reporting, and financial clarity define the deal’s success.

Workshops That Moved the Market

After the morning sessions, attendees spread across an impressive lineup of specialty workshops that turned big ideas into practical takeaways. The topics read like a roadmap for the 2026 restaurant economy: M&A, lending trends, technology, real estate, and franchise development.

1. Financing and M&A Trends

The panel “Getting a Deal Done: Insights on Restaurant Valuations and M&A Trends” featured Grant Thornton Advisors’ Michael Joseph and Todd Patrick, along with representatives from Dave’s Hot Chicken and Capital Insight. Their message was clear. Valuations are tightening, but transactions are still strong for well-prepared sellers.

For We Sell Restaurants, this aligns directly with current deal data. Properly packaged financials, transferable leases, and a verified owner benefit remain the top drivers of closing success. With restaurant transaction volume nationally showing pockets of slowdown, the brokers who understand valuation fundamentals are continuing to move deals across the finish line.

2. The Lender’s Perspective

In “An Underwriter’s Perspective: Top Restaurant Lenders’ Advice on How to Get Your Loan Package Through a Credit Committee,” executives from First Horizon, TD Bank, M&T Bank, and Fifth Third Bank broke down what separates a fundable restaurant deal from a stalled one.

Their insight reinforced why We Sell Restaurants’ Certified Restaurant Brokers emphasize detailed financial vetting and SBA readiness before a listing ever goes live. Lenders confirmed that the fastest approvals are coming from packages with accurate P&Ls, verified tax returns, and strong debt-service coverage ratios, precisely the standards We Sell Restaurants builds into every valuation file.

3. Franchise Development and Legacy Building

The Franchise Development track continued to draw high interest, with sessions such as “Founders to Future: Strategies for a Successful Family Business Transition” and “From Franchising to Legacy-Building: A Conversation with Leighton Hull.”

Hull’s discussion centered on the importance of sustainable growth and the human side of franchising, values echoed in We Sell Restaurants’ franchise resale work. He reminded the audience that true success in franchising isn’t just expansion, but continuity. That’s the same reason We Sell Restaurants partners with franchisors nationwide to formalize their resale programs, protecting brand equity when franchisees transition.

4. Real Estate and Expansion Strategy

Over in the Real Estate track, panelists from Dave’s Hot Chicken, Century Partners, and Sands Investment Group explored how ground leases, build-to-suit models, and sale-leasebacks are shaping deal structures for 2026. The consensus: operators willing to consider creative lease arrangements and B-sites with strong visibility can unlock value faster.

These are the exact site strategies our brokers highlight when advising sellers, helping them demonstrate upside potential for buyers and improving the overall return at closing.

Afternoon in the Finance & Development Mall

The energy carried into the Finance & Development Mall, where dealmaking was in full swing. The exhibit floor buzzed with conversations between lenders, private equity groups, and brand leaders seeking capital for expansion or liquidity for exits.

For the We Sell Restaurants team, Tuesday’s Mall sessions provided critical face time with the financing partners who help make our transactions seamless. Conversations with SBA lenders and franchise finance teams reinforced the current lending environment: while underwriting is conservative, well-prepared deals with clean documentation are funding efficiently.

Many of those lenders noted that restaurant resales are an increasingly significant portion of their deal flow, further proof that the resale market has matured into a recognized segment of the broader acquisition landscape.

Networking Lunch: Relationships That Drive Results

During the Networking Luncheon, conversations naturally turned to brand strength, leadership transitions, and the rising importance of data transparency in both acquisitions and resales. We Sell Restaurants’ presence at RFDC underscores how strategic partnerships between lenders, franchisors, and brokers can shorten time to market and improve closing rates.

Restaurant operators who stopped by our booth shared a consistent theme. Owners are seeking professional representation more than ever. Between tightening credit markets and complex lease negotiations, the do-it-yourself era of selling a restaurant is fading.

Afternoon Workshops: Technology, Labor, and Brand Innovation

The afternoon brought deeper dives into operational challenges and opportunities.

• “AI in Restaurants: Where Restaurant Organizations Are Investing and Realizing Value” explored how data analytics and automation are transforming profitability. Deloitte Consulting and NVIDIA presented examples of brands already deploying predictive tools for labor and sales forecasting. For restaurant sellers, these technologies translate into measurable valuation advantages.
• In “Man Versus Machine: The $12 Billion Labor Revolution for 16 Million Restaurant Workers,” panelists from Jack in the Box and Taco Bell examined technology’s impact on workforce dynamics. As brands streamline operations, investors are watching how labor efficiencies drive higher EBITDA multiples, a clear connection to the valuation strategies We Sell Restaurants implements for its clients.
• “More Reach, Less Spend: How Restaurant Leaders Are Supercharging Marketing and Innovation with GenAI,” led by Boston Consulting Group, addressed a new marketing reality. AI-driven personalization is reshaping brand loyalty and customer retention. Operators who embrace these changes now are setting themselves up for stronger exits later.

The Dealmaker’s Evening: Where Conversations Become Closings

By late afternoon, the Dealmakers Reception once again filled the Bellagio’s networking spaces. For our team, it was an opportunity to connect the dots between insights gathered throughout the day and real-world application in restaurant brokerage.

We met with franchisors seeking to formalize resale programs, multi-unit operators planning succession strategies, and lenders eager to expand their franchise lending portfolios. Each conversation came back to one truth: liquidity and readiness are the new currency of growth.

When restaurant owners have a plan for transition, supported by accurate financials, a transferable lease, and a broker who understands the industry, the transaction benefits everyone involved: the seller, the buyer, and the brand.

Key Takeaways for Sellers and Franchisors

After a full second day at RFDC, three clear lessons emerged that directly tie to We Sell Restaurants’ mission.

1. Capital Is Available, but Clarity Wins Deals
   Lenders remain active but selective. Well-structured financials, verified documentation, and strong management narratives separate successful sellers from stalled listings.
2. Franchisors Are Embracing Resale Strategy
   Across sessions, franchisors emphasized franchisee transitions as an extension of their development strategy. Building formal resale processes like those We Sell Restaurants manages for brands nationwide protects unit continuity and enhances brand value.
3. Technology and Talent Shape Tomorrow’s Valuations
   Operators are adopting automation, loyalty apps, and AI-enabled forecasting. This should lead to higher buyer interest and faster sales. Buyers are looking beyond sales numbers, seeking scalable, future-ready businesses.
   

Wrapping Up Day Two: A Market in Motion

As the lights dimmed on another busy day at RFDC, one theme stood out: the restaurant industry’s future will be built on smarter financing, stronger partnerships, and strategic transitions. For We Sell Restaurants, that means continuing to serve as the bridge between owners ready to exit and the investors eager to enter.

From conversations with lenders and franchisors to insights from economists and CFOs, day two reaffirmed that restaurants remain one of the most dynamic and investable sectors in the U.S. economy. The key is preparation, and that’s where our team’s expertise, systems, and Certified Restaurant Broker network make all the difference.

For more information on our listings or to establish a resale partnership, visit our website, WeSellRestaurants.com.