At some point in our lives, many of us have imagined stumbling across hidden treasure or a long-lost artifact at a flea market or garage sale.
I know I have, and that hope is fueled by real-life examples of people doing exactly that. There are countless stories (and I’m sure you’ve heard of at least one) where someone unknowingly buys a valuable old painting for the price of a cup of coffee.
Of course, the term ‘treasure’ can mean many things. Most people immediately think of a pirate’s stash, a chest full of gold coins and jewels. But in reality, old family photographs or documents can be just as priceless to the right person. Often, these items carry stories that make them even more intriguing.
That’s probably what Randy Guijarro had in mind when he spent $2 at a garage sale for an old photo album, filled with what seemed to be ordinary memories.
The photos, clearly aged with time, appeared vintage due to their black-and-white tones. However, what no one realized was that one of those pictures contained a detail that would transform it into an extraordinary find.
Randy selected the album simply because the photos seemed cool and unique to him.
Once home, he began flipping through the images, when he came across a face he instantly recognized.
The face was none other than Billy the Kid, the infamous outlaw of the Wild West. Billy the Kid, or William H. Bonney, was one of the most notorious outlaws, shot dead in 1881 at the young age of 23 after a life on the run.
Not only was this a remarkable historical artifact, but Randy’s discovery was also worth a fortune.
Reports later confirmed that the photo Randy purchased for a mere $2 might be valued at an astounding $5 million!
Subway makes Big Announcement about its future, after 58 years they are…
Subway announced that it is selling itseIf to Roark Capital, a private equity firm whose two holding companies already own an impressive collection of fast-food chains. Roark-owned brands include Dunkin’, Carvel, Jimmy John’s, Arby’s, Cinnabon, and Buffalo Wild Wings–and that’s just a partiaI list.
Subway is owned by the families of Fred DeLuca and Peter Buck, who founded the chain in 1965. At the time, Buck was 34. DeLuca was 17 and trying to raise money for college. Buck Ient him $1,000 and suggested they start a sandwich shop.
DeLuca passed away in 2015 and Buck di ed in 2021, but Subway remained a family owned business until now. It must have been a wrenching decision to give up ownership of the chain. But however they may feel about it, the families seem to have negotiated the best possibIe deal for the chain. Every business owner looking to sell can learn from their approach.
Our story begins back in February, when the families hired JPMorgan Chase as an adviser to explore a sale. At the time, the families reportedIy wanted $10 billion for one of the world’s two largest fast-food chains.
But it’s been a bad year for acquisitions so far, and some observers noted that the chain has been losing ground to newer rivaIs such as Firehouse Subs in recent years. With its shares of U.S. sandwich sales down from 34 percent in 2017 to 23 percent today, some questioned whether Subway was really worth $10 billion.
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