What does it take to turn a struggling franchise into a billion-dollar retail empire?

Today, we have Steve Murphy, the mastermind behind Winmark Corporation's stunning transformation. Steve shares how inefficiencies in operations can significantly impact profitability and the importance of effective marketing and staff training in keeping inventory in check and maximizing margins.

Steve also underscores the importance of understanding financials beyond just monthly reports, highlighting how financial metrics can dynamically improve operations. As well as optimizing KPIs to significantly boost profitability without additional sales efforts.

Steve Murphy, has been in the franchise industry for over 20+ years. He currently is an independent investor in real estate, venture capital and emerging franchise concepts. Steve serves as a Board Member for BaseCamp Franchising and for Homefront Brands®. Steve had previously worked at Winmark Corporation for over 18 years. He had served as President of Franchising since 2006, helping to grow publicly traded Winmark to over 850 franchisees and 1,250 locations and over $1.1 Billion in retail sales. 

So, if you are ready to discover the secrets of unique inventory management, the power of community-focused franchisees, and the indispensable insights that every aspiring franchisor and franchisee must know then today’s episode is for you!


Connect with Steve


LinkedIn - https://www.linkedin.com/in/stevenmurphy65/

Episode Highlights:

• Steve’s insights on inefficiency and what it costs

• Unique inventory management challenges for retailers

• The role of franchisees

• Understanding key financial metrics

• Optimizing KPIs for profitability

• Challenges in resale

• Financial goals and objectives

Connect with Tracy

Personal LinkedIn: https://www.linkedin.com/in/tracy-panase/

JBF LinkedIn - https://www.linkedin.com/company/jbfsale

JBF Franchise System - https://jbfsalefranchise.com/

Email: [email protected]

Connect with Shannon

Personal LinkedIn - https://www.linkedin.com/in/shannonwilburn/

JBF LinkedIn - https://www.linkedin.com/company/jbfsale

Have you wondered how private equity can transform your franchising journey or why timing your exit strategy is as critical as choosing the right franchise?

Today, Alicia Miller is sharing some golden nuggets on scaling your franchise, understanding private equity’s role and most importantly, planning your exit strategy ahead of time.

And if you are confused when it comes to private equity, Alicia breaks it down into understandable bite size pieces. She explains how less than 20% of franchisors get private equity investment and what qualities these firms are looking for - like a strong management team, profitability and great cash flow potential.

And if that wasn’t enough, Alicia gives the lowdown on crucial metrics like the EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) and why it’s a big deal for valuations. 

Alicia Miller is the Founder and Managing Director of Emergent Growth Advisors, a boutique strategic advisory firm working at the intersection of franchising and private equity. She supports founders and franchise management teams facing growth, disruption, or transformation challenges, and helps them accelerate their businesses. She also advises private capital firms pre- and post-transaction on strategy and value creation initiatives and co-invests alongside her partners. As a former multi-unit franchisee, she brings a franchisee’s perspective and operating experience into every engagement.

So, if you are ready to uncover the secrets to scaling, sustaining and successfully exiting your business as well as learning about the financial intricacies of franchising that could be the game-changer for your business then today’s episode is for you!

Connect with Alicia

Website: www.emergentgrowthadvisors.com 

LinkedIn: www.linkedin.com/in/milleralicia/ 

Instagram: https://www.instagram.com/bigmoneyinfranchising/

Twitter: https://x.com/BigMoneyInFran

Amazon: https://a.co/d/coVmI6W

Episode Highlights:

• Importance of private equity

• Understanding what qualities private equities look for

• Have a plan and an exit strategy ready

• Financial preparedness and financial challenges

• Strategic focus on exit strategies and private equity roles

• Viewing a business from a buyer’s perspective

• Importance of business valuation

• Preparing a business for sale

• Strategies for emerging brands when selling

• Role of advisors in franchising

Connect with Tracy

Personal LinkedIn: https://www.linkedin.com/in/tracy-panase/

JBF LinkedIn - https://www.linkedin.com/company/jbfsale

JBF Franchise System - https://jbfsalefranchise.com/

Email: [email protected]

Connect with Shannon

Personal LinkedIn - https://www.linkedin.com/in/shannonwilburn/

JBF LinkedIn - https://www.linkedin.com/company/jbfsale

What if the key to success lies in changing your mindset?

Today's guest, Catherine Monson, shares invaluable lessons on leadership, the importance of a positive mental attitude, and effective communication within franchises. Catherine’s leadership journey is marked by dedication to franchisee profitability and a profound commitment to ethical leadership and meaningful franchise support.

Catherine also shares her personal struggles and triumphs, such as overcoming depression and maintaining a positive mindset despite difficult circumstances. Her candid reflections on her "Undercover Boss" experience reveal gaps in company operations and how she addressed those challenges head-on.

Catherine Monson brings more than 40 years of franchising and leadership experience with multiple brands. Catherine is the CEO of Propelled Brands, a multi-franchisor with over 1,200 locations globally including FASTSIGNS, My SALON Suite, Camp Bow Wow and NerdsToGo. Catherin is a past chair of IFA and a member of the IFA Board of Directors from 2008 to 2023 and was an IFA Hall of Fame inductee in 2024.

So, if you are ready to listen in as Catherine shares how she turned challenges into triumphs, her powerful mindset techniques, and the pivotal moments that have shaped her career then today's episode is for you.

Connect with Catherine Monson:

Catherine’s YouTube - https://www.youtube.com/catherinemonson

Catherine’s Email - [email protected]

Catherine’s assistant - [email protected]

The sign that Catherine holds up during the interview is a framed picture with 5 texts of line. It read as 

PMA

GPB

SM

SoU

NSL

Episode Highlights:

• Catherine Monson’s career journey
• Importance of transparent communication
• Victim vs victor mindset
• Importance of positive mental attitude
• Weekly motivation videos for franchisees
• Balancing act of leading multiple brands
• Balancing empathy with business decision-making
• Characteristics of highly successful people 
• Catherine’s experience on Undercover Boss

Connect with Tracy

Personal LinkedIn: https://www.linkedin.com/in/tracy-panase/

JBF LinkedIn - https://www.linkedin.com/company/jbfsale

JBF Franchise System - https://jbfsalefranchise.com/

Email: [email protected]

Connect with Shannon

Personal LinkedIn - https://www.linkedin.com/in/shannonwilburn/

JBF LinkedIn - https://www.linkedin.com/company/jbfsale

Imagine launching a thriving global franchise during a period of personal loss and financial struggle. 

How do you transform hardship into prosperity, not just for yourself, but for an entire network of franchisees?

Today’s guest, Dustin Hansen, is diving into lessons he learned while building a thriving business, and diving into his philosophy of fostering community and transparency within franchise networks. Dustin shares how involving franchisees in decision-making processes and maintaining open communication channels can significantly enhance brand equity and trust.

 

Dustin has cultivated an award-winning career in franchising through his people-centered approach to building winning organizations. Dustin has the unstoppable combination of knowledge, experience and drive to guide franchise organizations to achieve their full potential.  

Dustin’s unique perspective comes as a result from being a co-founder of the global franchisor InXpress, leading InXpress as CEO (12 years) to more than 550 franchise locations in fourteen countries approaching $500M in systems sales. Through his leadership InXpress won top awards of Global Franchise Awards in 2021, 2022, 2023 and ranks in the top 100 largest global franchise brands (#100). 

So, if you are ready to understand the importance of building relationships based on trust, the importance of peer-to-peer relationships within the franchising system and how that involvement with fellow franchise owners can lead to exponential growth then today’s episode is for you!

Episode Highlights:

• Franchise unity and brand value

• Dustin Hansen’s career and transition

• Leadership, transparency and the importance of building trust

• Dustin Hansen’s approach to franchising

• Franchisee relationships and emotional investments

• Recruitment and onboarding challenges in franchising

• Transparency and trust in franchise management

Connect with Tracy

Personal LinkedIn: https://www.linkedin.com/in/tracy-panase/

JBF LinkedIn - https://www.linkedin.com/company/jbfsale

JBF Franchise System - https://jbfsalefranchise.com/

Email: [email protected]

Connect with Shannon

Personal LinkedIn - https://www.linkedin.com/in/shannonwilburn/

JBF LinkedIn - https://www.linkedin.com/company/jbfsale

How do you run a successful franchise? It often looks like identifying blind spots that inhibit growth, taking strategic pauses, and embracing the journey while expecting the unexpected. 

Today’s guest, Steve Greenbaum, dives into the concept of “blind spots” in business which equates to those challenges that often pop up out of nowhere in our business. Steve shares how an emerging business, Tootl, was using spreadsheets to manage transportation logistics which was unsustainable when it comes to scaling.

And what do you do when something is unsustainable? For Steve it meant hitting the pause button on franchise development in order to develop much needed tech and have solid processes in place before resuming sales.

Steve, also discusses the intricacies of balancing operational consistency with innovative growth and discusses his motto of when we know better we do better.

So, if you are ready to navigate the blind spots, scale sustainably and transform unexpected obstacles into stepping stones for growth then press play and listen in!

Steve Greenbaum is the founder and CEO of PostNet International Franchise Corporation, where he led the brand’s expansion to over 660 franchises across the US and 10 countries. Today, Steve is a board board member, advisor, investor, and experienced EOS practitioner, who enjoys equipping franchisors and their leadership teams with the tools and strategies needed to overcome obstacles and take their business to the next level. Steve was awarded the International Franchise Association’s Entrepreneur of the Year award in 2003. 

Connect with Steve:

[email protected]

Episode Highlights:

• Challenges and solution in franchising

• Addressing blind spots when it comes what is inhibiting your growth

• Tootl’s strategic pause in franchising

• Gradual scaling by granting a limited number of franchises

• Key success factors for franchisors

• Financial challenges and risks with franchising

• Broker networks and franchisee relations

Connect with Tracy

Personal LinkedIn: https://www.linkedin.com/in/tracy-panase/

JBF LinkedIn - https://www.linkedin.com/company/jbfsale

JBF Franchise System - https://jbfsalefranchise.com/

Email: [email protected]

Connect with Shannon

Personal LinkedIn - https://www.linkedin.com/in/shannonwilburn/

JBF LinkedIn - https://www.linkedin.com/company/jbfsale

Curious how an average person with average work ethic can achieve extraordinary success in franchising?

With decades of experience navigating the complexities of the franchise landscape, our guest David Barr is bringing a wealth of knowledge and a candid perspective on the realities of franchising.

David Barr is the Chairman and majority owner of PMTD Restaurants and sits on the board of directors of a variety of public and private entities, both domestic and international, with a focus on consumer facing companies. David describes himself as a franchise board member, franchisor, franchisee, supplier, and an advocate for the franchise industry.

Today, David shares the concept of the "hell zone," where franchisees often find themselves in financial and managerial turmoil. Yet, he doesn’t stop at just identifying the problem; David recommends growth strategies and a clear vision to not only navigate but transcend these challenges.

David also underscores the vital importance of understanding one’s "why" in business, and shares his emphasis on having a unique business model with strong unit-level economics.

So, if you are ready for practical advice, having a blueprint for navigating the complex and rewarding world of franchising, and fostering strong leadership this episode is for you!

Connect with David:

Email: [email protected]

Episode Highlights:

• Introduction to David Barr and his acquisition of 2 KFC franchises and his role at Pizza Hut and Great American Cookies

• The “Hell zone” concept for franchisees

• Growth and sustainability in franchising

• Advice on having a growth vision

• Understanding long-term commitment for franchisees

• Importance of understanding one’s “why”

• Franchising success and challenges

• Value of analyzing successes and failures

• Importance of a “hedgehog” or core purpose

• Challenges and realities in franchising

• Misconceptions about quick financial gains in franchising

• Capital and effort required for multi-location franchises

Connect with Tracy

Personal LinkedIn: https://www.linkedin.com/in/tracy-panase/

JBF LinkedIn - https://www.linkedin.com/company/jbfsale

JBF Franchise System - https://jbfsalefranchise.com/

Email: [email protected]

Connect with Shannon

Personal LinkedIn - https://www.linkedin.com/in/shannonwilburn/

JBF LinkedIn - https://www.linkedin.com/company/jbfsale

Have you ever wondered how a working mom’s frustration led to a nationwide revolution in early childcare and a thriving franchise?

Jo Kirchner joined Primrose in 1990 as Vice President and became President and CEO in 1999. Her lifelong mission is to deliver a nurturing environment and a quality learning foundation to help children become confident adults who love who they are and what they do.

Under Jo’s leadership, Primrose has grown from four schools in metro Atlanta to more than 500 schools nationwide and she has been awarded the International Franchise Association (IFA) Entrepreneur of the Year Award in 2023.

Today, we are diving into Jo’s journey of transforming early childhood education, how she built a thriving franchise, embraces continuous improvement, and how she’s making a community impact that’s changing lives across the US.

Hear how Jo’s passion, perseverance, and a bit of marketing magic can turn a personal challenge into an entrepreneurial triumph.

So, if you are ready to be inspired and learn how you can make a difference in your community by embracing quality, consistency and continuous growth then today’s episode is for you.

Connect with Jo:

LinkedIn - https://www.linkedin.com/in/kirchnerjo/

Episode Highlights:

• Jo Kirchner’s journey and transformation of Primrose Schools

• Jo’s role in pioneering experiential learning and fostering community involvement through the Primrose Children's Foundation.

• Jo discusses the entrepreneurial challenges of balancing ambition with realistic expectations

• Advocacy for early education

• Proprietary play-based curriculum that sets Primrose schools apart

• Journey of growth and franchising at Primrose schools

• Continuous improvement over chasing perfection

Connect with Tracy

Personal LinkedIn: https://www.linkedin.com/in/tracy-panase/

JBF LinkedIn - https://www.linkedin.com/company/jbfsale

JBF Franchise System - https://jbfsalefranchise.com/

Email: [email protected]

Connect with Shannon

Personal LinkedIn - https://www.linkedin.com/in/shannonwilburn/

JBF LinkedIn - https://www.linkedin.com/company/jbfsale

What does it take to foster real trust and passion in a franchise? 

Today’s guest, Shane Evans is an accomplished entrepreneur and franchisor, best known as the Co-Founder of Massage Heights, a premier membership-based massage and skincare company. With a passion for enhancing well-being, Shane has cultivated a culture of elevated wellness that touches the lives of people, members, and communities.

As the visionary leader behind Massage Heights, Shane developed the retail model and guided its growth into a privately held family business with 115+ operating units across the United States and Canada.

Shane is sharing the power of genuine appreciation, respect and love that should be in every franchise. As well as meaningful ways to engage franchisees, the importance of transparency as well as how to hold our boundaries, and Shane shares why she enforces the “Grandma Rule”.

And Shane shares her return as CEO of Massage Heights after a challenging break and opens up about the hurdles and how franchisee feedback was the driving force behind her return.

So, if you are ready to listen in as Shane dives deep into core values of leadership, the significance of appreciation, and the necessity of transparency in nurturing successful franchise relationships then press play and listen in!

Connect with Shane:

LinkedIn - https://www.linkedin.com/in/shane-franson-evans-9964639/

Massage Heights website - https://www.massageheightsfranchise.com/leadership-team/shane-evans/

Episode Highlights:

• Embracing emotional aspects of leadership

• The importance of transparency in leadership

• Utilizing advisory committees to build trust and transparency

• Quick expansion and membership model of Massage Heights

• What Shane learned by being on Undercover Boss

• Challenges and insights of stepping back into the CEO role at Massage Heights

• Practical tools for effective leadership

Connect with Tracy

Personal LinkedIn: https://www.linkedin.com/in/tracy-panase/

JBF LinkedIn - https://www.linkedin.com/company/jbfsale

JBF Franchise System - https://jbfsalefranchise.com/

Email: [email protected]

Connect with Shannon

Personal LinkedIn - https://www.linkedin.com/in/shannonwilburn/

JBF LinkedIn - https://www.linkedin.com/company/jbfsale

If you don’t do something that differentiates you, you don’t even get a look, much less an opportunity.

In today’s episode we are diving into strategies for franchise success. We are starting off with the importance of thinking outside the box and how we can be creative about drawing attention and sales into our business. As well as always being a life-long learner as a leader and the importance of meaningful connections within the franchise space. 

Today’s guest, Stan Friedman, is currently the co-founder, managing member and chief development office of ZorForum and serves on the (IFA) Educational Foundation’s Leadership Council and Board of Trustees. Stan is an “outside the box” thinker and has been a long-time proponent of diversity in franchising. 

Stan is renowned for his unconventional, attention-grabbing strategies that help him stand out in a crowded market and his ability to build strong relationships and leverage out-of-the-box strategies, such as using tax credits to aid inner-city franchise development.

So, if you are ready to harness the power of relationships and networking within the franchising industry, learn out-of-the-box strategies, and tap into the significance of meaningful connections and continuous learning then today’s episode is for you!

Connect with Stan

LinkedIn - https://www.linkedin.com/in/4stanfriedman/

Website - https://sensiblefranchising.com/

Podcast - https://franchisetodaypodcast.com/

Episode Highlights:

• Stan’s transition into franchising

• Emphasis on building relationships within the franchising industry

• Importance of maintaining long-term connections

• Impact of out-of-the-box thinking on franchise success

• Stan’s unconventional tactics to differentiate himself

• Overview of ZorForum and it’s goals

• Importance of peer-to-peer mentorship without competition

Connect with Tracy

Personal LinkedIn: https://www.linkedin.com/in/tracy-panase/

JBF LinkedIn - https://www.linkedin.com/company/jbfsale

JBF Franchise System - https://jbfsalefranchise.com/

Email: [email protected]

Connect with Shannon

Personal LinkedIn - https://www.linkedin.com/in/shannonwilburn/

JBF LinkedIn - https://www.linkedin.com/company/jbfsale

When it comes to owning a franchise the most important thing you can do to set yourself up for success is to do your due diligence.

And the most effective way to do your due diligence is with FranNet's 7-step process that sets you, the potential franchisee, up for long-term success.

Today, we are joined by Jania Bailey who joined FranNet in 2006 and in 2015 assumed the role of CEO of FranNet. Under her leadership, she has led the company through unprecedented growth and has established FranNet as the most respected voice in the franchise consultant industry in North America and is a certified franchise expert. 

Jania is diving into the 7-step process that she uses to set you up for success as well as clearing up the most common misstep she sees with potential franchisees and diving deep into factors like risk tolerance, financial performance, and the emotional impact of running a franchise.

So, whether you are a potential franchisee or an emerging franchisor this episode is packed with actionable steps for long-term success.

Connect with Jania:

Phone # 502-719-8349

Email: [email protected]

LinkedIn: linkedin.com/in/janiabailey

Episode Highlights:

• The 7-step process of FranNet

• Common shortcuts taken by prospective franchisees

• Characteristics of a good franchisee-franchisor match

• Knowing your risk tolerance when as a franchisee

• Financial considerations when buying a franchise

• Insights on the Franchise Disclosure document (FDD)

• Responsible franchising practices

• Importance of franchises understanding key performance indicators (KPIs)

• Understanding the emotional investment of a franchise

Connect with Tracy

Personal LinkedIn: https://www.linkedin.com/in/tracy-panase/

JBF LinkedIn - https://www.linkedin.com/company/jbfsale

JBF Franchise System - https://jbfsalefranchise.com/

Email: [email protected]

Connect with Shannon

Personal LinkedIn - https://www.linkedin.com/in/shannonwilburn/

JBF LinkedIn - https://www.linkedin.com/company/jbfsale