In this episode of the Profitable Franchisees podcast, TraceyLeak discusses the intricacies of time management, emphasizing that while time itself cannot be managed, how we utilize it can be. She introduces various strategies for effective time management, including prioritization, delegation, and the creation of a 'not negotiable hour' to focus on important tasks without interruptions. Tracey also highlights the importance of understanding one's 'why' in business to guide decision-making and maintain focus on what truly matters.

For more information: www.traceyleak.com

Chapters

00:00 Understanding Time Management

02:47 Prioritization and Productivity

05:42 Delegation vs. Abdication

09:03 Procrastination and Its Causes

11:46 Getting Organized for Success

15:05 Defining Your 'Why'

17:57 Time Management Strategies

24:08 Implementing Not Negotiable Time

27:01 Creating Effective To-Do Lists

Takeaways

You can't manage time, only how you use it.

Time management is about personal management.

Finding the right strategy for time management is key.

Prioritization is essential for effective time management.

Busy work is not the same as productive work.

Delegation requires clear instructions and expectations.

Understanding your 'why' helps in prioritizing tasks.

Creating a structured schedule can enhance productivity.

A 'not negotiable hour' can significantly improve focus.

Regularly reviewing and adjusting your strategies isimportant.

#timemangement #franchise #franchisor #franchisee#productivity #podcast #franchiseesuccess #worklifebalance

In this episode of the Profitable Franchisees podcast, hostTracey Leak chats with Daniel Mesiti, a seasoned franchisee from Boost Juice, to discuss the intricacies of working with younger generations in the workforce. They explore practical strategies for hiring, inducting, and leading young employees, emphasizing the importance of treating them as individualsrather than stereotypes. Daniel shares insights on building a positive work culture, the significance of effective leadership, and the long-term impact of early employment experiences on young people's lives. The conversation highlightsthe need for ongoing learning, setting clear expectations, and fostering personal connections to enhance employee engagement and retention.

To contact Daniel:   https://www.linkedin.com/in/daniel-mesiti/

Chapters

00:00 Introduction to Generational Dynamics in Franchising

03:00 Dan's Journey with Boost Juice

05:50 Understanding the Younger Generation

08:44 Hiring Young Team Members

11:47 The Importance of Induction

14:46 Leadership Qualities Over Generational Labels

17:59 Profitability and Hiring Younger Staff

23:03 Building a Productive Team: The Importance ofContinuity

24:17 Understanding Employee Motivation: Aligning Goals

26:39 Coaching and Development: Nurturing Young Talent

31:39 Creating a Positive Work Environment: Leadership andFun

35:00 Impactful Stories: The Long-Term Influence of FirstJobs

40:44 Advice for Franchisees: Investing in Personal Growth

Takeaways

It's essential to treat employees as individuals, not justby their generational labels.

Hiring young talent requires a focus on attitude and valuesrather than just experience.

Induction processes are crucial for setting expectations &ensuring employee success.

Building a positive work culture is vital for employeemotivation and retention.

Leaders should engage with their teams regularly to maintainrapport and connection.

Understanding the reasons behind employees' motivations canenhance productivity.

Effective leadership involves coaching & guidingemployees through their development.

Setting clear boundaries and expectations helps youngemployees thrive.

Investing in personal growth and learning is key to businesssuccess.

Creating a supportive environment can lead to long-termemployee loyalty and growth.

For more information: www.traceyleak.com

#franchisee #franchise #franchisor #generationaldynamics#leadership #hiring #employeeretention #workplaceculture #induction #youngtalent #profitability #training

In this episode of the Profitable Franchisees podcast, hostTracey Leak discusses the critical considerations for franchisees looking to expand from one location to multiple locations. She emphasizes the importance of understanding the motivation behind expansion, evaluating profitability and cash flow, and ensuring that the first location is not overly reliant on theowner. Tracey also highlights the need for a solid marketing plan, exit strategies, and the potential for flipping underperforming franchises as a strategy for growth. The conversation is rich with insights and practical advice for franchisees at any stage of their journey.

For more information: www.traceyleak.com

Chapters

00:00 Introduction to Scaling Your Franchise

02:46 Understanding Your Motivation for Expansion

06:02 Profitability Considerations for Multiple Locations

08:43 Operational Readiness for a Second Location

12:03 Strategic Location Selection

15:05 Testing Your Business Systems

18:07 Exit Strategies and Future Planning

21:04 Marketing and Cash Flow Projections

22:19 Final Thoughts on Multi-Unit Ownership

Takeaways

Start with understanding your motivation for expansion.

Profitability may not double when adding a second location.

Evaluate the cash flow and profitability model beforeexpanding.

Your first location should be running smoothly beforeconsidering a second.

Assess how reliant your first location is on your presence.

Have a strong marketing plan for the new location.

Consider your exit strategy when expanding.

Flipping underperforming franchises can be a viablestrategy.

Don't overestimate what can be achieved in the new location.

Plan and prepare to step up as a business owner.

#franchise #multi-unitfranchise #franchisee #franchising#businessstrategy #businessexpansion #franchisesuccess

In this episode of the Profitable Franchisees podcast, Traceychats with Wendy Lloyd Curley, a franchisee with BNI and a professional speaker, about effective networking strategies for franchisees. Wendy shares her journey with BNI, emphasizing the importance of building relationships and making connections rather than just selling. The conversation covers practical tips for preparing for networking events, starting conversations, crafting a compelling introduction, and following up with potential referral partners. Wendy also highlights the significance of understanding one's target market and unique selling proposition to attract the right connections. The episode concludes with key takeaways and advice for franchisees to enhance their networking efforts and ultimately grow their businesses.

To contact Wendy:  www.strategicnetworking.com

Chapters

00:00 Introduction to Networking and BNI

02:58 Wendy's Journey as a Franchisee

05:49 Preparing for Networking Events

08:59 Identifying Your Target Market

11:59 Expanding Your Networking Circle

14:50 Effective Conversation Starters

17:52 Crafting Your 60-Second Introduction

24:48 Introduction to Wendy's Keynote Speaking

26:50 The Power of Networking and Relationships

28:56 Making Connections: From Networking to Collaboration

32:48 Building Trust and Rapport in Business

36:10 Navigating Sales Conversations

38:56 Follow-Up Strategies for Networking

41:10 Quality Over Quantity in Networking

43:42 Key Tips for Franchisees

46:20 Conclusion and Resources

Takeaways

Networking is about making connections, not just selling.

Having the right mindset is crucial before attendingnetworking events.

Know your target market and what makes you unique.

Practice your introduction to clearly communicate who youserve.

Follow up with connections to maintain relationships.

Quality relationships are more important than quantity innetworking.

Be interested in others to build rapport.

Use LinkedIn to connect and follow up after events.

You can over network; choose events wisely.

Read the franchise manual and seek mentorship for success.

For more info:  www.traceyleak.com

#franchise #franchisee #franchisor #networking #businessgrowth #BNI #relationshipbuilding #networkingstrategies #businessreferrals #localareamarketing

In this episode, Tracey Leak discusses the five biggest mistakes franchisees make that hinder their profitability. She emphasizes the importance of following the franchise system, maintaining a positive attitude, being organized, managing expectations with franchisors, and understanding financial metrics. Through practical examples and insights, Tracey provides actionable advice for franchisees to enhance their business performance and profitability.

Chapters

00:00 Introduction to Franchisee Success

05:47 The Importance of Following the System

12:37 Mindset Matters: The Impact of Attitude

18:19 Organization and Planning for Profitability

24:38 Managing Expectations with Franchisors

Takeaways

Franchisees often fail to follow the established system,which is crucial for success.

A negative attitude can significantly impact businessprofitability.

Being organized and having a clear plan is essential forrunning a successful franchise.

Franchisees should manage their expectations regardingfranchisor support.

Understanding financial metrics, such as conversion rates,is vital for business growth.

Participation in franchise events and utilizing availableresources can enhance success.

Franchisees must focus on what they can control and let goof what they cannot.

Collusion among franchisees can create a negativeenvironment that hinders success.

Positive communication and mindset can lead to betteroutcomes in business.

Continuous learning and adaptation are key to maintainingprofitability.

For more info:  www.traceyleak.com

#franchise #franchisee #podcast #franchisesuccess#profitability #businessmistakes #mindset #organisation #franchisor

In this episode of the Profitable Franchisees podcast, Tracey interviews Ben Davis, a unique multi-unit, multi-brand franchisee in Australia. Ben shares his journey from being a casual employee at Athlete's Foot to becoming a successful franchisee with multiple locations. The conversation delves into the importance of understanding business numbers, making data-driven decisions, and balancing work with family life. Ben emphasizes the need for franchisees to focus on controllable factors in their business and the significance of fostering a positive culture within their teams.

https://www.theathletesfoot.com.au/

https://www.citycave.com.au/

Chapters

00:00 The Journey of a Multi-Unit Franchisee

11:47 Understanding the Numbers: Key to Success

23:24 Building a Strong Team Culture

35:28 Future Aspirations and Work-Life Balance

Takeaways

Ben started his franchise journey with Athlete's Foot whilestudying at university.

He emphasizes the importance of customer service andbuilding relationships.

Ben expanded to multiple locations based on strategicplanning and market opportunities.

Understanding numbers is crucial for franchise success andprofitability.

Controllable items like stock management can significantlyimpact profitability.

Data-driven decisions can lead to better product offeringsand increased sales.

Balancing business responsibilities with family time isessential for overall well-being.

Open communication and transparency with staff foster apositive work culture.

Franchisees should focus on what they can control amidstexternal challenges.

A positive mindset can help navigate tough businessenvironments.

For more info:  www.traceyleak.com

#franchisee #franchise #multi-unit #businessgrowth#customerservice #cashflow #datadrivendecisions #familybusiness #profitability#franchisesuccess #management #podcast

In this episode of the Profitable Franchisees podcast, hostTracey Leak discusses the critical first 90 days for new franchisees. She emphasizes the importance of following the system, asking for help, and finding a rhythm in business. Tracey provides practical tips for simplifying the approach, planning weekly, building relationships with peers, and navigating advice from experienced franchisees. She encourages new franchisees to overcome challenges by focusing on solutions and utilizing available resources forsuccess.

Chapters

00:00 Introduction to the Franchise Journey

10:03 Building Momentum and Work Ethic

18:00 Finding Your Rhythm and Support

25:33 Asking the Right Questions and Backing Yourself

Takeaways

The first 90 days are crucial for franchisee success.

Every franchisee's journey is unique, despite similarsystems.

Following the established system is essential for success.

Asking for help is not a sign of weakness; it's necessary.

Finding your rhythm in business takes time and effort.

Simplicity is key in the early stages of business.

Regular planning meetings with yourself can enhance focus.

Building relationships with peers can provide valuablesupport.

Always verify advice from experienced franchisees with headoffice.

Focus on solutions rather than excuses to overcomechallenges.

For more info:  www.traceyleak.com

#franchise #franchisee #first90days #businesssuccess#franchisingtips #franchisegtraining #businessplanning #mentorship#franchisesupport #peertopeer

In this episode, Tracey Leak discusses the four stages ofhiring a successful team for franchisees. She emphasizes the importance of understanding who to hire, conducting effective interviews, implementing a thorough induction process, and providing ongoing support and development for new employees. By focusing on personality traits and cultural fit rather than just skills, franchise owners can build a more cohesive and effective team.

Chapters

00:00 Introduction to Hiring for Success

05:09 Stage One: Defining the Ideal Candidate

10:57 Stage Two: The Interview Process

17:28 Stage Three: Induction and Training

23:40 Stage Four: Ongoing Development and Integration

Takeaways

Stage one is about understanding who you need to hire.

Focus on personality traits, not just skills.

Group interviews can save time, but one-on-one is oftenbetter.

Induction is crucial for new hires; have a plan.

Use the 'see one, do one, teach one' method for training.

Check in regularly with new employees to support theirdevelopment.

Hiring is about finding trainable individuals, not justskilled ones.

Create a culture of support and ongoing training.

An A to Z book can help new hires with common questions.

Prevention in hiring leads to better long-term employeeretention.

For more info: www.traceyleak.com

#franchise #franchisee #hiring #interviewprocess #teambuilding #induction #franchisesuccess #team

In this episode of the Profitable Franchisees podcast, host

To contact Evan:

https://www.linkedin.com/in/evan-gill-44aa4956/

Chapters

00:00 The Resurgence of Physical Marketing

10:15 Innovative Strategies in Local Area Marketing

17:31 Maximizing Print Marketing Investments

20:09 Keys to Success as a Franchisee

Takeaways

Physical marketing is making a comeback post-COVID.

People are craving personal connections after digital

Innovative promotional items can enhance marketing efforts.

Quality graphic design is crucial for effective print

Different types of paper stock can impact brand perception.

Local area marketing can significantly boost business

Catalogs and flyers can have a long shelf life with

Networking and personal touches can lead to better business

Investing in quality marketing materials pays off in the

Combining digital and physical marketing strategies is

For more info:  www.traceyleak.com

#franchisees #franchise #podcast #physicalmarketing #localareamarketing #printmarketing #marketingstrategies #businessgrowth #promotionalproducts #customerengagement #marketinginvestment #networking #marketing

In this episode of the Profitable Franchisees Podcast, host

To contact Jodi:  https://alchemycoaching.com.au/

Chapters 

00:00 Introduction to Mental Health in the Workplace

02:56 Jodie's Journey: From IT to Mental Health Advocacy

06:01 The Stigma of Mental Health: A Shared Experience

08:44 Strategies for Improving Mental Health in the

11:40 Innovative Approaches to Workplace Wellbeing

15:04 Supporting Colleagues: How to Approach Conversations

17:52 Happiness Hacks: Simple Ways to Boost Wellbeing

20:54 Finding Passion Outside of Work

23:45 The Power of Giving Back

27:04 Conclusion: Breaking the Stigma Around Mental Health

Takeaways

Mental health is a crucial topic often overlooked in

50% of Australians will experience a mental health disorder

Exercise is the number one strategy for improving mental

Mindfulness practices can significantly enhance wellbeing.

Social support is essential for mental health.

Creating a supportive workplace culture is vital for

Effective communication can help identify colleagues in

Gratitude practices can lead to increased happiness.

Finding passions outside of work is important for mental

Volunteering and giving back can improve personal wellbeing.

For more info:  www.traceyleak.com

#mentalhealth #workplace #coaching #wellbeing #support  #happiness #communication #volunteering