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The Franchise Leaders Forum Podcast
Welcome to "The Franchise Leaders Forum," the ultimate podcast for entrepreneurs navigating the intricate world of franchising, brought to you by industry veterans Tracy Panase and Shannon Wilburn. This podcast is your go-to resource for franchise leadership insights, practical strategies to build and scale your franchise, and firsthand experiences from those who live and breathe franchising every day.
Leading the conversation is Tracy Panase, the dynamic force behind the Just Between Friends Franchise System. Tracy, who previously excelled as a top franchisee, took over the leadership reins in December 2022. Under her guidance, the brand is reaching new heights, emphasizing a strong culture, supporting franchisees, and ensuring families across the country can say “YES” to everything their kiddos need and want. Her fresh perspective and unwavering commitment to excellence make her a formidable voice in the franchising community.
By her side is Shannon Wilburn, the visionary co-founder of Just Between Friends. Starting from a simple idea in her living room in 1997, Shannon grew the company into a thriving network of over 150 locations. Her decision to pass the leadership to Tracy has infused the company with new energy and direction, and together, they bring a wealth of knowledge and passion to the podcast.
In "The Franchise Leaders Forum," Tracy and Shannon dive deep into the good, the bad, and sometimes the ugly aspects of franchising. Each episode features candid discussions, expert interviews, and real-life stories from successful franchise leaders who have faced and overcome challenges. Listeners will gain valuable insights into effective leadership, growth strategies, and the nuances of franchise operations.
Whether you're a franchisor, franchisee, or aspiring to enter the franchising world, this podcast addresses the pain points and challenges you face. From understanding franchise dynamics to learning how to support and grow your franchisees, Tracy and Shannon provide actionable advice and inspiration.
Tune in to learn from the experiences of others, gain new perspectives, and equip yourself with the tools to navigate your franchising journey with confidence.
Join us on "The Franchise Leaders Forum" and become part of a community dedicated to leadership, growth, and success in franchising.
This podcast will provide answers to questions and topics like:
- Tips for Franchisees, Franchisors and vendor partners
- How to scale a franchise business
- Why is leadership important in franchising?
- How do I grow my franchise business?
- What are the trends in franchising?
- What is the challenge of franchising?
- How do I get involved in a franchise business?
- Franchise success stories
- Franchise marketing strategies
The Franchise Leaders Forum Podcast
Navigating Unit Economics and KPIs in Franchising with Steve Murphy
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: podcast@jbfsale.com
Connect with Shannon
Personal LinkedIn - https://www.linkedin.com/in/shannonwilburn/
JBF LinkedIn - https://www.linkedin.com/company/jbfsale