POSITION SUMMARY The Senior Director, Portfolio Management owns the health, growth trajectory, and economic performance of Panera’s franchised café portfolio. The role sits at the center of the franchise growth agenda: identifying where the system can profitably expand, deciding which franchise partners are capable of carrying that growth, structuring and closing the agreements that commit it, and standing behind the administrative and compliance engine that keeps the portfolio in good order. The Senior Director is expected to read a franchisee’s P&L, balance sheet, and cash flow statement without translation, form an independent view of that operator’s capacity to invest and to weather stress, and defend that view in front executive leadership. The role leads a two-person Franchise Services team and partners closely with Franchise Operations, Strategy, Development, Legal, and Finance. Location: Newton, MA (hybrid), moving to Weston, MA in July 2027 KEY RESPONSIBILITIES Portfolio Growth & Development • Partner with Market Strategy, Franchise Development, and Franchise Operations to assess each franchisee’s growth potential and trajectory, and to mine the system for new Area Development Agreement (ADA) opportunities. • Build and maintain the forward pipeline of ADA commitments, including whitespace prioritization and market-by-market development capacity. • Negotiate and close ADAs and ADA amendments; bring deals through the Franchise Development Council for approval. Franchisee Financial Health & Underwriting • Financial statement analysis — Analyze franchisee P&Ls, balance sheets, and cash flow statements to assess profitability, liquidity, leverage, and debt service capacity. • Capacity to invest — Establish and apply the financial standards a franchisee must meet to be approved for expansion, transfer, or renewal, including net worth, liquidity, coverage ratios, and committed capital. • Portfolio surveillance — Maintain a running view of financial health across the franchised base; identify deteriorating operators early and bring them forward with a recommended course of action before distress becomes a workout. • Valuation — Partner with Finance to value existing assets, prepare evaluations, and make Right of First Refusal (ROFR) recommendations. Transfers, M&A, and Transactions • Own the franchise transfer process and policies end to end; guide buyers and sellers through the process and hold both sides to standard. • Evaluate and screen prospective franchisees for brand alignment, operating capability, and financial capacity to invest. • Manage the development process from initial contact through commitment and franchise agreement signing, including meetings, presentations, and negotiations. • Support refranchising transactions and franchisee-to-franchisee acquisitions, including transaction structuring and diligence coordination. Franchise Administration & Compliance • Oversee the Franchise Services function — franchise administration, compliance, café approvals and closures, renewals, onboarding, and fee administration — delivered through the Senior Manager and Manager, Franchise Services. • Ensure governance of ADAs and Franchise Agreements, including development milestone tracking, renewal processes, and required financial submissions. • Oversee franchise fee collection, debt facility reviews, and unique financial arrangements (e.g., dough distribution, delivery agreements). • Ensure the team partners effectively with Contract Administration on annual FDD preparation and regulatory alignment. • Hold accountability for data integrity and CRM discipline across the franchise development pipeline. Governance, Reporting & Team Leadership • Develop the agenda for the monthly Franchise Development Council and present deals, portfolio health, and pipeline status. • Provide regular reporting to senior management on the state of the business, risks, and opportunities. • Maintain detailed records of franchise development activity — lead progress, agreements, compliance status, and financial detail. • Lead, develop, and set standards for a two-person Franchise Services team; build the function’s capability rather than absorbing its work. • Participate in franchisee business reviews alongside Franchise Operations. QUALIFICATIONS — EXPERIENCE • 10+ years in a franchised environment, including 5+ years of direct franchise development experience. • Demonstrated experience leading and developing a team. • Proven deal experience: sourcing, structuring, negotiating, and closing development or transfer agreements. • Strong command of the FDD, franchise law fundamentals, and franchised-industry best practices. • Track record of applying financial analysis to commercial decisions — not delegating it. • Fluent reading and interpretation of the three primary financial statements: income statement, balance sheet, and statement of cash flows. • Working command of credit and coverage concepts — EBITDA and adjusted EBITDA, leverage, debt service coverage, working capital, liquidity, and capital structure. • Comfort challenging a franchisee’s numbers directly and constructively. • Bachelor’s degree in business, finance, accounting, or a related field. MBA, CPA, CFA, or comparable finance training strongly preferred. Equal Opportunity Employer: Disabled/Veterans Competitive Pay $207,723 - $236,804 annually Additional Description :