Navigating the details throughout the year
BLD Brands, LLC
"That motto, the power of being understood, is very well understood with me."
― Doug Pak, Chairman and Co-CEO, BLD Brands, LLC
BLD Brands, LLC is a fast-growing restaurant investment and development company. They are a large franchisee of two well-known, global restaurant brands, Papa John’s and Hardee’s. BLD Brands started its operations in 2006 and since then has grown to 120 units located in five states, with revenues of close to $200 million.
Rapid growth makes for many unique challenges for company, especially in the areas of labor and workforce, government regulations and technology. For Doug Pak, the chairman and co-chief executive officer of BLD Brands, the key to overcoming challenges such as these starts with building trusted relationships. “I live by the motto that life is not about achievements, it's about relationships,” said Pak. “I believe when you build the right relationships, and focus on those, it becomes profitable to you because the right relationships produce results. I can be successful because I work with professionals who take an interest in what we do and want to help me find solutions. RSM definitely falls into that category.”
RSM has worked with BLD Brands for six years, initially providing tax and audit services. But, as the relationship has grown, so have the ways they are working together.
An evolving relationship
Pak and his team have found that RSM can provide much more support for BLD’s growing business than they thought possible. “Outsourcing is a critical aspect of running a company like ours,” says Pak. “We didn’t realize RSM could help us in that area, but when we talked with them about the challenges we were facing―specifically around technology last year―they came in with a solution that was exactly what we were looking for. It worked out well for us.”
BLD Brand’s growth comes primarily through acquisitions, and they recently were working on a major transaction, their largest at that time. “I wanted to find a firm that we could trust to help us navigate the details,” explains Pak. “Again, RSM was that firm. We had no idea that they offered transactional advisory services, but once we did, we set up the engagement and it was a great experience.”
“There are a lot of professionals out there who are more transactional,” notes Pak. “Meaning they get in, they get out, they just get their work done and they are good to go. With RSM, we are engaged throughout the year. Because of that, I consider them an advisor, not just the guys who do your taxes or audits your books. That's not the way our relationship works.”
“For middle market companies, RSM is the right firm. They have all the professional and industry knowledge you need to solve problems and grow your business.”