Pros
Enthusiastic, work-hard-play-hard culture, great experience for working within a large corporate organization and supporting a large, complex set of franchises. A strong desire to be innovative and meet the business challenges facing them. Most corporate employees are devoted to the company and there is a family feel. Strong ethics - I never witnessed a whiff of unethical behavior in my 5+ years there.
Cons
Because of it's passion for traditions, corporate management has trouble creating true change where it is needed. Also, while the family culture can be wonderful, relationships play too big a part with the franchisees' respect (or lack of) for their corporate counterparts. Those who "came up through the restaurants" are sometimes given preferential treatment and are put into positions for which they do not have the skills or talent. I found compensation to be low compared to other companies that hire for my area of expertise.