Omar Simmons: Exaltare Capital Managing Partner On Value Creation, Scaling Franchises, and Opening Doors for Others
For Episode 2 of NEXT, host Michael Sonnenfeldt sits down with Omar Simmons, Managing Partner and Co-Founder of Exaltare Capital Partners, to unpack what it really takes to build, scale—and eventually exit—franchise businesses.
Omar’s story starts far from private equity. Raised in inner-city Boston by a single mother in subsidized housing, he learned early how to compete, adapt, and “sell his first product”—himself. That mindset carried him from captaining Princeton’s track team to earning an MBA with honors from Harvard Business School, and ultimately to operating at scale as CEO of ECP / Planet Fitness, where he helped grow one of the largest developer-operator platforms from 15 to 115+ locations across the U.S. and Canada.
In this episode, Omar and Michael dig into the franchise model as a powerful engine for wealth creation—why it works when it works, what most investors misunderstand, and how scale and geography can actively de-risk a business. They also explore Omar’s practical approach to leadership: how he evaluates grit, what managers can and can’t change in people, and why employee onboarding and engagement are often the most overlooked levers in unit-level performance.
The conversation culminates in Omar’s candid reflections on when to sell—how investor timelines, COVID shock, and concentration risk shaped his decision to take chips off the table while staying aligned to the next phase of growth. Omar also shares lessons from his philanthropic work with the Franchise Ascension Initiative, expanding ownership pathways for underrepresented entrepreneurs.
Whether you’re scaling a franchise platform, leading frontline teams, or weighing the timing of an exit, this episode delivers grounded insight from someone who has lived every phase of the journey.
Topics:
01:55 — Growing up in inner-city Boston: family, housing, and early lessons
03:55 — The role of love, community, and sports in shaping resilience
05:05 — Cold-calling Princeton: betting on yourself early
06:55 — Mentorship, peer groups, and learning without a traditional playbook
09:45 — Paying mentorship forward: coaching, leadership, and legacy
12:05 — What makes franchising such a powerful business model
15:00 — Centralized learning vs. decentralized ownership in franchises
16:10 — Can grit be taught? How Omar evaluates drive and adversity
18:40 — Hiring, leadership limits, and knowing when people won’t change
19:05 — Spotlight on Understood.org and supporting learning differences
20:55 — The “gold standard” franchisors and why fit matters more than brand
24:00 — Risk in the eye of the beholder: investing, intuition, and expertise
27:10 — COVID, concentration risk, and surviving extreme uncertainty
28:30 — Employee engagement, retention, and why caring actually scales
31:00 — Scaling Planet Fitness from 15 to 100+ locations
33:00 — Selling the business: timing, COVID shock, and liquidity decisions
35:30 — Life after the exit: identity, rhythm, and redefining purpose
38:00 — The Ascension Franchise Initiative: expanding ownership access
41:30 — Measuring success through ownership and wealth creation
44:00 — Racism, progress, and hope in America today
47:00 — Profit vs. purpose: why it’s a false choice
49:00 — Gratitude, giving back, and generational responsibility
50:20 — What’s next for Omar in this stage of life
51:30 — Advice to his younger self
52:30 — Tip jar: spiritual practices and recommendations
Mentioned:
TIGER 21 is the premier peer membership organization for ultra-successful entrepreneurs, investors, and executives. Through confidential forums and shared experience, members gain perspective on wealth, leadership, and life beyond success.
Omar’s podcast recommendation — The Rest is History
Omar’s Franchise Accelerator Program: Franchise Ascension Initiatitive
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