10 Point Capital only invests in franchisors with between 30 and 300 units and is typically the first investor in these companies alongside the founders, Tom Wells, managing partner at 10 Point Capital, said. These businesses have already gotten through the challenge of scaling into multiple markets, have enough data to be able to provide unit-level economics and have already figured out their brand valuation, Wells said. The private equity firm does one deal a year, and looks for high-growth concepts that tend to be in secondary and tertiary markets, Wells said.