In this episode, host Paul Ehlinger welcomes back Adam Contos for his second appearance on Behind the Franchise. Former CEO of RE/MAX and current partner at Area 15 Ventures, Adam brings a seasoned perspective on private equity, leadership, and what it really takes to scale franchise brands without losing the soul of the business.

Building on their first conversation around AI and leadership, Paul and Adam dive into how private equity and family offices are reshaping franchising today, what emerging franchisors need to understand before taking outside capital, and why staying in your lane matters more than ever. Adam shares candid insights from both sides of the table, including red flags investors look for, how culture starts at the top, and why disciplined execution beats flashy initiatives every time.

Listeners will hear:

• How private equity's role in franchising has evolved and why it's not going away

• What franchisors should look for in the right capital partner

• Why strong leadership and financial literacy matter before scaling

• How to evaluate your business like an investor using AI automation tools

• Lessons from legacy brands navigating growth, rebrands, and generational change

• Adam's vision for helping franchise systems grow smarter and stronger

It's a must-listen for franchise leaders, investors, and operators focused on Franchise growth, Franchise marketing, and how to use AI for business without losing focus on fundamentals.