FBR's franchise model means they collect rent without sweating the kitchen heat. Problem is the outlets hav…by @jim_jse4 on $FBR

FBR's franchise model means they collect rent without sweating the kitchen heat. Problem is the outlets have to actually work, and load-shedding's been murder on QSR margins this side of the Limpopo. At R55.48 they're cheap relative to what the brand portfolio should earn in a normal year, but you're basically betting the rand steadies and people keep buying bunny chow through the power cuts.