CUSTOMER STORIES
Supreme Foods Uses Leasecake for Streamlined Due Diligence
Challenges
Supreme Foods is steadfast in its commitment to growth, employing a strategy grounded in meticulous due diligence and the implementation of scalable operations. In a fiercely competitive market, the company recognizes the paramount importance of thorough scrutiny when considering acquisitions. This involves comprehensive checks for easements, Common Area Maintenance (CAM) charges, and sales anomalies before venturing into the bidding process. However, the complexities escalate when managing additional locations, necessitating a proactive approach to navigate through numerous key milestones and dates. This poses a unique challenge for the company’s lean yet dynamic team.
The challenges at hand encompass the management of real estate portfolios comprising 36 Burger Kings, 34 Popeyes, and 3 Taco Johns. Juggling the diverse requirements and key lease dates for this extensive portfolio is a task that demands precision and foresight. Additionally, Supreme Foods is actively addressing the challenge of supporting their fast-moving merger and acquisition growth plans, ensuring seamless integration and sustained success. Furthermore, the impending retirement of the Chief Financial Officer adds another layer of complexity, requiring strategic preparations to seamlessly transition responsibilities and maintain financial stability during this significant change. Supreme Foods is poised to overcome these challenges with strategic planning and a commitment to excellence.
Supreme Foods began their journey in the franchise business 14.5 years ago with a single unit in Mayfield, KY.
After successfully persuading the corporation to acquire four stores and subsequently signing a Development Agreement, they continued to grow. Driven by a passion for ownership, Kevin Newell started with one unit and have since expanded to 73 locations, currently adding 31 more through acquisitions.
Units and Growing
Compounded Growth
States
Solution
Leasecake proves to be an invaluable asset for the Supreme Foods team, providing them with a scalable solution that empowers them to effortlessly manage critical dates such as Rent Changes and Lease Expirations. This not only eliminates administrative burdens but also liberates the team to concentrate on other essential tasks. Through Leasecake, Supreme Foods has gained significant advantages, including fast lease abstraction, ensuring quick and accurate extraction of crucial lease information. This expedites processes and enhances overall efficiency.
"What is the value of your time? It's just that simple for me. Fast access to key information helps us make smarter decisions."
Kevin Newell​
CEO of Supreme Foods – Popeyes, Burger King, Taco John’s
Results
Leasecake has facilitated more thorough due diligence for Supreme Foods. The platform’s capabilities enable the team to delve into lease details comprehensively, ensuring a meticulous examination that contributes to informed decision-making. The automated alerts to key dates further enhance the team’s operational effectiveness. With Leasecake, Supreme Foods can proactively manage and respond to important milestones, preventing oversights and potential issues.
“We’re currently engaged in a new deal and enlisted Leasecake’s Real Estate Services team to abstract crucial lease details and clauses into a clean package. This is vital for our due diligence efforts and helped justify a fair bid to the seller. Leasecake abstracted 30 leases in a matter of days. Very impressive.”
As the team prepares for the retirement of their long-standing CFO, Leasecake’s role becomes even more pronounced in facilitating proactive succession planning. The platform ensures a seamless transition of lease data and documentation, contributing to the overall readiness for leadership changes.
In anticipation of this transition, Leasecake’s Professional Services team steps in to enhance efficiency, further streamlining the process and allowing Kevin’s team to stay dedicated to their unique area of expertise. This collaborative effort between Leasecake and Supreme Foods emerges as a win-win situation for all involved, reinforcing the platform’s role as a strategic partner in the management and optimization of the company’s lease-related activities.
