Many of your questions are valid...but also the same question s...

Many of your questions are valid...but also the same question s could be put about a lot of stocks on the exchange....even Harvey Norman..in a low margin business like that, how can a franchise model work?

Dentists...1300 smiles and the pac one doing ok...yet similar questions could be put. Perhaps AMA where they were just rolling up panel beaters is another that in theory shouldn’t work. Perhaps u should just buy stocks that likes of marsc jimmysomeone or is it c, and Madamswer invest in..they like the “ moat “ type ones, and am sure they have done very well.
If shine can be well managed, they are still a buy in my opinion