I wouldn't say your "plan" is flawed. I would say it's not within Jillian's skill set or risk profile to do something like that.

Based on what I have seen of her businesses, I think she likes things a little cleaner, less complicated, and less risky. She's a fitness and health person, not so much a financing/speculating type as a main strategy (yes, GIGL is a health related concept) but this approach is just too far outside her wheelhouse.

Plus, I don't see her playing hardball with Parsi, buying him out.

Lastly, I don't see Parsi giving up control at all.

It's just an opinion.