In this episode, host Susan Black-Beth sits down with franchise executive and operator Liberty Bernal to examine what happens when private equity ownership intersects with franchise culture. Drawing from Liberty’s experience selling her brand to PE, they unpack the emotional, operational, and leadership consequences of rapid change inside franchise systems.

Key themes include:

For Operators (Franchisors & Franchisees)

• Set expectations early: Transparent conversations about risks, change, and performance standards build long-term credibility.

• Be visible in the field: Face-to-face engagement can accelerate trust recovery in distressed systems.

• Qualify harder in development: It is better to decline a candidate than onboard a misaligned operator.

For Investors (Private Equity, Family Offices, Independent Sponsors)

• Field engagement is a strategic activity: Board expectations should explicitly support executive time in market.
• Pace discipline: Slowing development to stabilize operations can increase long-term return through improved royalty durability and reduced churn.

• Support infrastructure ROI: Investment in training, onboarding, and coaching lowers failure rates and protects brand equity.

Your Host

Susan Black-Beth, is the Founder and Managing Partner of Auspicious Owl Group and a lifelong Franchise Activist. She’s sat in every seat from the tailgate of a pick-up truck at her car wash franchise to the boardrooms where the most difficult questions are being asked. 

Guest Bio

Liberty Bernal is a franchise executive, advisor, and speaker with more than 30 years of experience across franchise development, operations, marketing, and leadership. She has worked with both emerging and established brands, helping founders and leadership teams build scalable systems, strengthen culture, and grow with intention. Currently serving as President and COO of Sweet Influencers, Liberty works at the intersection of franchising, technology, and brand growth, helping franchise brands modernize how they attract and support franchisees. She also advises founders and leadership teams on structure, strategy, and sustainable expansion. Known for combining operational expertise with emotional intelligence, Liberty brings a human-centered perspective to franchising. Her work focuses not just on building businesses, but on helping people build lives that align with who they actually are. Outside of work, Liberty is a wife and mom who prioritizes family, health, and living a life that feels as good personally as it looks professionally.

Support Owl’s Edge Podcast:  

Hit the subscribe button, follow the show, and leave a comment with your biggest takeaway! 

If you know a franchise owner/operator or an investor who is seeking their business “Edge,”  share this episode with them today.

Show Notes:

Follow Auspicious Owl Group on LinkedIn 

https://www.linkedin.com/company/auspicious-owl-group/ 

Connect with Susan Black-Beth on LinkedIn

https://www.linkedin.com/in/susan-e-blackbeth/ 

Connect with Liberty Bernal on LinkedIn:

https://www.linkedin.com/in/libertybernal

Challenged Athletes Foundation:

https://www.challengedathletes.org/

How do you build a franchise system that stands the test of time?  It starts with strong and active communication.  In this premiere episode, we sit down with the legend who opened the very first Great American Cookies franchise, Doc Cohen, to uncover the secret to creating a thriving franchise system.

This podcast will help you bridge the gap between being smart and being wise.

Doc shares a truth that every private equity investor and franchise owner needs to hear: "Franchising is a leadership-by-influence business... if you think you can just give orders because you own the brand, you've already lost."

Your host, Susan Black-Beth, is the Founder and Managing Partner of Auspicious Owl Group and a lifelong Franchise Activist. She’s sat in every seat from the tailgate of a pick-up truck at her car wash  franchise to the boardrooms where the most difficult questions are being asked. 

What You’ll Learn: Looking to the Past to Inform Your Future

For Franchise Operators: 

• The Secret to Influence: How to get your ideas to be heard and for your  boots-on-the-ground experience to be valued.

• Legacy Protection: Practical ways to protect your business value 

• The Profit Secret: Why supporting the system is of benefit to you. 

For the Private Equity Investor:

• The ROI of Trust: Why franchisee profitability is the crucial KPI

• Partnership vs. Payroll: Why the traditional corporate "Command and Control" playbook fails in franchising and how to shift to a high-growth partnership model.

• Translating the Vision: How to turn your EBITDA and IRR goals into a vision franchisees want to be champions of. 

Guest Bio:

Lawrence “Doc” Cohen, is a foundational legend of the industry. He opened the very first door for Great American Cookies in Lafayette, Louisiana, in the late 1970s. Doc has seen every cycle of the franchise system and came out on top, eventually serving as the Chairman of the International Franchise Association (IFA) and becoming the first-ever franchisee inducted into the International Franchise Association’s Hall of Fame. Doc is a trusted source for anyone trying to navigate the relationship known as franchising. 

Stop assuming. Start knowing. Get the Edge.

Subscribe & Follow: 

Don't miss the premiere of the show that bridges the translation gap between franchise operators and private equity investors.  

Hit the subscribe button, follow the show, and leave a comment with your biggest takeaway! 

If you know a franchise owner/operator or an investor who is seeking their business “Edge,”  share this episode with them today.

Show Notes:

Follow Auspicious Owl Group on LinkedIn 

https://www.linkedin.com/company/auspicious-owl-group/ 

Connect with Susan Black-Beth on LinkedIn

https://www.linkedin.com/in/susan-e-blackbeth/ 

Connect with Doc Cohen on LinkedIn

https://www.linkedin.com/in/doccohen/ 

Support the Fight Against Blood Cancers 

https://bloodcancerunited.org/ 

The Bridge Builder Poem

https://www.poetryfoundation.org/poems/52702/the-bridge-builder 

Have you ever wondered how to turn industry-leading "smart" into the lasting "wisdom" that drives extraordinary growth?The Owl’s Edge Podcast is the definitive space where ambitious franchise operators and private equity investors come together to unlock new levels of success and partnership.

Hosted by Susan Black-Beth, founder and managing partner of Auspicious Owl Group, this podcast is her mission to bridge the "translation gap" between the boardroom and the break room.

By bringing vital insights out from behind closed doors, Susan helps both sides of the table learn to speak the same language to improve outcomes for every stakeholder involved.

What you will get from The Owl’s Edge:

• Lived Wisdom: Move beyond data points to understand the "lived experiences" that inform the future and challenge traditional outcomes.
• Access to Legends: Gain exclusive access to "institutional knowledge" from the icons and legends who built the franchise business model from the ground up.
• Competitive Advantage: Learn from the challenges others have already navigated—such as building trust and strengthening communications—to grab a competitive edge in your own market.
• A "Rising Tide" Perspective: Discover why the best outcomes happen when investors and operators row in the same direction to protect and grow the brand together.

We believe that there are very few business problems being solved for the first time.

By sharing these stories and frameworks, we can ensure that institutional capital and local franchise legacies don't just coexist—they thrive.

Subscribe and follow The Owl’s Edge podcast wherever you listen to your favorite shows.

Let’s swoop in and let’s get wise!