Profitable Franchisees
By Tracey Leak
Each episode is packed with actionable insights, insider tips and the stories that will ignite your entrepreneurial spirit.
Tune in and transform your franchise business into a powerhouse of profitability.
Make sure you subscribe today so you get notifications on new episodes that are released weekly.
S2 E24 Maximising Franchise Relationships for Profitability
In this episode of the Profitable Franchisees podcast, host Tracey Leak discusses how franchisees can maximize their relationships with franchisors and leverage available systems to enhance profitability. She emphasizes the importance of following established systems, reigniting the initial excitementfor the franchise, and utilizing strengths and weaknesses effectively. Tracey also highlights the value of field support, effective marketing strategies, and peer-to-peer learning within the franchise community.
For more info from Tracey: www.traceyleak.com
Chapters
00:00 Maximizing Franchise Relationships
05:27 Understanding Strengths and Weaknesses
14:46 Peer-to-Peer Learning in Franchising
21:48 Continuous Improvement and Growth
Takeaways
Maximize your franchise relationship for better profitability.
Business is simple; often we complicate it ourselves.
Follow the established systems to ensure success.
Revisit the reasons you joined the franchise to reignite passion.
Utilize your strengths and acknowledge your weaknesses.
Leverage field support for insights and growth opportunities.
Engage in local marketing to complement national campaigns.
Peer-to-peer learning is a significant advantage in franchising.
Learn from the successes and mistakes of others.
Maintain a positive relationship with the franchisor for better support.
#franchise #franchisee #profitability #franchiseesupport #marketing #franchiserelationships
Selling with Confidence to Increase Profits with Tony Meredith (S2 E23)
In this episode of the Profitable Franchisees podcast, host Tracey Leak speaks with Tony Meredith, a business coach specializing in sales strategies for business owners. They discuss the importance of conversion rates, maximizing average transaction values, empowering sales teams, and thecritical role of follow-up in the sales process. Tony shares actionable insights and strategies to help franchise owners improve their sales performance and customer experience.
To Contact Tony: http://tonymeredithcoaching.com.au/
For more info from Tracey: www.traceyleak.com
Chapters
00:00 Introduction to Sales in Franchising
01:29 The Importance of Conversion Rates
10:07 Understanding Sales Mistakes
15:59 Overcoming Fear of Rejection
19:22 Increasing Average Transaction Value
24:11 Delighting Customers: The Key to Memorable Experiences
25:17 Empowering Your Team: The Role of Delegation in Sales
29:00 Building Product Knowledge: The Foundation of Sales Confidence
32:43 Strategic Training: Planning for Sales Success
36:15 The Fortune is in the Follow-Up: Persistence Pays Off
40:18 Mindset Matters: Controlling What You Can in Sales
Takeaways
Sales cures all, especially when profitable.
Tracking conversion rates is essential for improvement.
Focus on existing customers for easier sales opportunities.
Listening is more important than talking in sales.
Sales is about helping customers, not just selling to them.
Follow-up is crucial; most sales happen after multiple contacts.
Empower your team to sell effectively.
Training and planning are key to successful sales.
Value must exceed price for a transaction to occur.
Consistency and persistence lead to sales success.
#franchise #franchisee #podcast #sales #conversionrate #salesstrategies #salestraining #customerexperience
How to create a team culture to thrive! With Katrina Johnson (New Sky Consulting) (S2 E22)
In this episode of the Profitable Franchisees podcast, hostTracey Leak speaks with Katrina Johnson from New Sky Consulting about the importance of creating a thriving team culture within franchises. They discuss the definition of culture, the significance of values, and the role of trustedleadership in fostering a positive work environment. Katrina introduces her culture matrix, which helps business owners assess their current team dynamics and identify areas for improvement. The conversation emphasizes the need forstructured systems to support team culture and the importance of onboarding new team members effectively. Overall, the episode provides actionable insights forfranchisees looking to enhance their business culture and team performance.
To contact Katrina: https://newskyconsulting.com.au/
For more info from Tracey: www.traceyleak.com
Chapters
00:00 Introduction to Team Culture in Franchising
03:07 Defining Culture for Small Business Owners
06:06 The Importance of Connection and Structure
09:04 Navigating the Culture Matrix
12:03 Steps to Improve Team Culture
14:54 The Role of Leadership in Culture
18:01 Family vs. Team Dynamics
21:01 Establishing and Living Values
23:54 Inducting New Team Members into Culture
27:05 Common Mistakes in Building Culture
30:06 Conclusion and Key Takeaways
Takeaways
Culture is how we show up for ourselves and each other.
Your culture as a leader is designed and needs clarity.
Blissful ignorance can lead to risks if structure is absent.
Toxic chaos is the worst environment for a team.
Values must translate to behaviors, not just words on awall.
Induction should include values and the 'why' behind thebusiness.
Trusted leadership is crucial for team success.
Relinquishing control is a challenge for many leaders.
Onboarding should foster connection and understanding ofculture.
Regularly revisit and protect your established culture.
#franchise #franchising #franchisee #podcast #teamculture#culture #leadership #HR
The Role of Leadership in Franchise Success (S2 E21)
In this episode of the Profitable Franchisees Podcast, Tracey Leak discusses the critical role of leadership in franchise success. She emphasizes that leadership is not merely a title but a set of skills and behaviours that must be demonstrated. Tracey explores the importance of making tough decisions, developing a personal leadership style, and encouragingleadership qualities in others. She also highlights the inevitability of mistakes in leadership and the importance of learning from them to foster growth and profitability in franchise operations.
For more information: www.traceyleak.com
Chapters
00:00 Understanding Leadership Beyond Titles
02:30 The Importance of Leadership Skills
07:07 Calmness and Decision-Making in Leadership
09:24 Identifying Leadership Traits
12:25 Developing Your Leadership Style
14:58 Learning from Mistakes as a Leader
Takeaways
Leadership is not just about having a title; it's aboutdemonstrating skills.
Unofficial leaders can emerge in teams, and it's crucial tobe the recognized leader.
Even solo operators have a leadership role within theirfranchise group.
Leadership can be learned through observation andexperience.
Making tough decisions is a key trait of effective leaders.
Being calm under pressure is essential for good leadership.
Understanding your own leadership style is important forgrowth.
Leaders should encourage leadership qualities in theirteams.
Mistakes are part of leadership; what matters is how yourespond to them.
Successful franchisees often have a well-defined leadershipstyle.
#leadership #franchisesuccess #franchise #franchisee#leadershipskills #developingleaders #leadershipstyle #franchiseeprofitability
Why is goal setting keeping you stuck? with Cindy Koehler (Mind Garage) (S2 E20)
On this episode of the Profitable Franchisees Podcast, Tracey interviews Cindy Koehler about why goal setting is keeping you stuck.
Cindy takes the time to explain how we see ourselves in the present moment and how this doesn't actually help us to move into the person who is achieving the goals we have set - how our minds can hold us back.
With the science behind why this happens along with practical strategies, Cindy helps us navigate our on actions, behaviours and thoughts so that we can start setting goals and achieving them without things like self sabotage and imposter syndrome.
To contact Cindy: www.mindgarage.com.au
Free Resources from Cindy:
Manifest YOU - https://www.dropbox.com/scl/fi/7vea4ulz0tdpirpji8gfm/Manifest-YOU-Morning-Meditation-Theory.wav?rlkey=i38xm5for542xjt8iqiwfc6kn&dl=0
Morning Meditation to Release the Old - https://www.dropbox.com/scl/fi/bhft2xqpa1tvelc2lvqmp/Morning-Meditation-2-Release-the-Old-Theory.wav?rlkey=eoy94j77qme57nx7393piqpfx&dl=0
For more information from Tracey:
www.traceyleak.com
#franchise #franchisee #franchising #goalsetting #mindset #businesssuccess
Mastering Time Management for Franchisees (S2 E19)
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
Working with the Younger Generations with Daniel Mesiti (Boost Juice) (S2 E18 )
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
Scaling from Single to Multi-Unit Franchisee (S2 E17)
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
How to network & get business with Wendy Lloyd Curley (BNI) (S2 E16)
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
The 5 Biggest Mistakes I See Franchisees Make (S2 E15)
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
How to grow your franchise by knowing your numbers with Ben Davis (Athlete’s Foot & City Cave) (S2 E14)
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/
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
Your First 90 Days as a Franchisee (S2 E13)
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
The 4 Stages of Hiring (S2 E12)
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
Physical Marketing in a Digital World with Evan Gill (Kwik Kopy) (S2 E11)
In this episode of the Profitable Franchisees podcast, host Tracey Leak speaks with Evan Gill from Kwik Kopy about the resurgence of physical marketing in a digital world. They discuss how local area marketing strategies, innovative print marketing techniques, and the importance of personal connections can significantly enhance a franchisee's business. Evan shares successful examples of physical marketing campaigns and emphasizes the need for quality in print materials. The conversation highlights the synergy between digital and physical marketing, encouraging franchisees to invest wisely in their marketing strategies for better customer engagement and business growth.
To contact Evan: https://kwikkopy.com.au/location/qld/eagle-farm
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 overload.
Innovative promotional items can enhance marketing efforts.
Quality graphic design is crucial for effective print marketing.
Different types of paper stock can impact brand perception.
Local area marketing can significantly boost business visibility.
Catalogs and flyers can have a long shelf life with customers.
Networking and personal touches can lead to better business relationships.
Investing in quality marketing materials pays off in the long run.
Combining digital and physical marketing strategies is essential.
For more info: www.traceyleak.com
#franchisees #franchise #podcast #physicalmarketing #localareamarketing #printmarketing #marketingstrategies #businessgrowth #promotionalproducts #customerengagement #marketinginvestment #networking #marketing
Mental Health In Business with Jodi Brown (Alchemy Coaching) (S2 E10)
In this episode of the Profitable Franchisees Podcast, host Tracey speaks with Jodi Brown about the critical topic of mental health in the workplace. Jodi shares his personal journey from IT to becoming a mental health advocate, discussing the stigma surrounding mental health issues and the importance of open conversations. They explore practical strategies for business owners to support mental health, including exercise, mindfulness, and social support. Jodi emphasizes the need for a supportive workplace culture and effective communication when approaching colleagues in need. The conversationalso touches on happiness hacks, the significance of finding passion outside of work, and the transformative power of giving back through volunteering. Together, they aim to break the stigma around mental health and promote a healthier work environment.
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 Workplace
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 workplaces.
50% of Australians will experience a mental health disorder in their lifetime.
Exercise is the number one strategy for improving mental health.
Mindfulness practices can significantly enhance wellbeing.
Social support is essential for mental health.
Creating a supportive workplace culture is vital for employee satisfaction.
Effective communication can help identify colleagues in need.
Gratitude practices can lead to increased happiness.
Finding passions outside of work is important for mental health.
Volunteering and giving back can improve personal wellbeing.
For more info: www.traceyleak.com
#mentalhealth #workplace #coaching #wellbeing #support #happiness #communication #volunteering #franchise #franchisee #podcast
Mastering your Profitability (S2 E9)
In this episode of the Profitable Franchisees podcast, host Tracey Leak discusses the essential strategies for mastering franchisee profitability. She emphasizes the importance of focusing on profit rather than just revenue, the necessity of measuring profitability through regular P&L reviews, and actionable strategies to increase profitability. Tracey provides insights on understanding profit centers, managing cash flow, and breaking down financial goals into manageable activities. The episode serves as a comprehensive guide for franchisees looking to enhance their business profitability.
Chapters
00:00 Understanding Profit and Self-Sabotage
07:05 Setting Profit Goals and Measuring Success
14:13 Analyzing P&L for Better Profitability
21:45 Maximizing Profit Potential in Business Dips
Takeaways
Profit is essential for personal and business growth.
Focus on profit goals instead of revenue goals.
Regularly measure and review your profitability.
Understand your P&L as a working document.
Turn expenses into percentages for better insights.
Identify your most profitable products or services.
Cash flow management is crucial for profitability.
Work on business dips to maximize profit potential.
Break down financial goals into daily activities.
Aim for repeat business to enhance profitability.
For more details: http://www.traceyleak.com
Keywords
#franchiseeprofitability #profitgoals #measuringprofit #P&L #cashflowmanagement #businessstrategies #revenuevsprofit #franchisesuccess #profitabilitytips #financialmanagement #franchise #franchisee #podcast
Building Lasting Relationships for Profit with Leisa Gill (BNI) (S2 E8)
In this episode of the Profitable Franchisees podcast, host Tracey Leak speaks with Leisa Gill from BNI about the critical importance of building relationships in business. They discuss how relationships with customers, suppliers, and team members can lead to greater success and profitability. Leisa shares her insights on purposeful networking, the time investment required to build lasting relationships, and the return on investment that comes from nurturing these connections. The conversation also highlights the role of BNI in helping franchisees grow their businesses through effective networking and relationship-building strategies.
For more information on BNI, go to www.bni.com.au
Chapters
00:00 Introduction to Building Relationships in Business
02:33 The Importance of Relationships for Success
05:23 Networking vs. Building a Network
08:14 The Time Investment in Relationships
11:11 Real-Life Examples of Relationship ROI
14:28 Tips for Accelerating Relationship Building
17:11 Maintaining Long-Term Relationships
20:21 Building a Strong Team through Relationships
23:01 The Role of BNI in Networking
26:21 Final Thoughts on Relationship Building
Takeaways
Building relationships is essential for business success.
People do business with individuals, not just brands.
Networking should focus on building trust and connections.
Investing time in relationships pays off in the long run.
Purposeful networking is different from casual networking.
Understanding your clients' needs helps serve them better.
A strong network can lead to significant referrals.
Treat your team with appreciation and respect.
Clear communication and expectations are vital for team success.
Surround yourself with like-minded individuals to foster growth.
For more details: http://www.traceyleak.com
#businessrelationships #networking #franchiseesuccess #BNI #customerrelationships #teambuilding #referrals #localmarketing #relationshipbuildingstrategies #trustinbusiness #franchise #franchisee #localareamarketing #marketing
Digital Local Area Marketing and Getting the Basics Right with Taylor Fielding (TFM Digital) (S2 E7)
In this episode of the Profitable Franchisees podcast, Tracey talks with Taylor Fielding from TFM Digital to discuss the importance of local area marketing for franchisees. They explore how understanding the local audience through data can enhance marketing strategies, the integration of digital and traditional marketing methods, and practical steps for franchisees to start their marketing journey. Taylor emphasizes the need for ongoing marketing efforts and the significance of genuine customer engagement to drive business success.
To contact Taylor: www.tfm.digital
Chapters
00:00 Introduction to Local Area Marketing
03:49 Understanding Your Audience Through Data
06:56 Creating Effective Marketing Campaigns
09:43 Leveraging Digital Platforms for Local Marketing
12:52 Navigating the Tech of Digital Marketing
16:52 Measuring Marketing Success Beyond Vanity Metrics
19:53 Exploring Diverse Digital Marketing Strategies
23:02 Getting Started with Local Area Marketing
24:51 The Importance of Consistent Marketing
27:55 Collaborating with Franchisors for Better Marketing
Takeaways
Local area marketing is essential for franchisee profitability.
Understanding your audience through data is crucial for effective marketing.
Digital marketing tools can help franchisees connect with their local community.
Creating personas based on local demographics can guide marketing strategies.
Franchisees should leverage both digital and traditional marketing methods.
Always-on marketing is necessary to stay top-of-mind with customers.
Collaboration with local businesses can enhance marketing efforts.
Franchisees should utilize available resources and tools for audience profiling.
Tracking actual business drivers is more important than vanity metrics.
Engaging with customers genuinely can lead to better marketing outcomes.
For more details: http://www.traceyleak.com
#franchising #localareamarketing #digitalmarketing #audienceprofiling #marketingstrategies #franchiseesuccess #marketingtools #customerengagement #marketingcampaigns #socialmedia #franchise #franchisee #franchisemarketing
Achieving your Goals in 2025 (S2 E6)
In this episode of the Profitable Franchisees podcast, host Tracey Leak discusses effective strategies for setting and achieving goals in the new year. She emphasizes the importance of personal commitment to goals, the need for focus, and the significance of breaking down larger goals into manageable steps. Tracey also highlights the role of accountability, the impact of procrastination, and the necessity of celebrating successes to foster a supportive environment for achieving goals.
Chapters
00:00 Setting Goals for the New Year
05:36 Creating Effective Goals
11:41 The Importance of Accountability
17:41 Celebrating Achievements and Supporting Others
Takeaways
Setting goals requires personal commitment and focus.
Many people abandon their New Year's resolutions within 90 days.
Prevention is better than cure when it comes to goal setting.
It's important not to set too many goals at once.
Breaking down goals into smaller steps makes them more achievable.
Accountability is crucial for staying on track with goals.
Procrastination often signals deeper issues that need addressing.
Allow yourself to achieve your goals and recognize your worth.
Celebrating the success of others can help build a supportive network.
The new year is an opportunity to set meaningful goals and achieve them.
For more details: http://www.traceyleak.com
#goalsetting #NewYearsresolutions #accountability #personaldevelopment #businessstrategies #success #motivation #productivity #franchisebusiness #achievinggoals #franchise #franchisee
Review Your Year (S2 E5)
In this episode of the Profitable Franchisees podcast, host Tracey Leak discusses strategies for setting up for a successful 2025. She emphasizes the importance of self-assessment, reflecting on the past year, analysing strengths and weaknesses, and creating a support system. Tracey encourages listeners to revisit successful habits, conduct a financial analysis, and identify what energized them in the past year to replicate success moving forward.
Chapters
00:00 Setting the Stage for 2025
05:36 Strengths and Weaknesses Analysis
12:39 Financial Analysis and Profit Opportunities
19:51 Planning for Support in 2025
Takeaways
Reflect on the past year to set better goals.
Identify what worked and what didn't in your business.
Focus on strengths to enhance business performance.
Revisit successful habits that may have been abandoned.
Analyze your P&L for profit opportunities.
Recognize the importance of cash flow alongside profit.
Identify sources of positive energy in your business.
Create a start, stop, change, or let go list.
Establish a support system for the upcoming year.
Hit the reset button to move forward with clarity.
For more details: http://www.traceyleak.com
#franchisee #businessstrategy #goalsetting #self-assessment #financialanalysis #strengths #weaknesses #support #2025planning #reflection #profitability #franchise
Turning Profits into Personal Financial Freedom with Sloan Wilkins (Executive Financial Coaching) (S2 E4)
In this episode of Profitable Franchisees, host Tracey Leak speaks with Executive Financial Coach Sloan Wilkins about the importance of financial wellbeing for franchisees and small business owners.
Sloan shares his personal journey into financial coaching, emphasizing the need for good financial habits and effective budgeting tools.
He discusses strategies for eliminating debt, the significance of having a profit plan, and how business owners can support their team's financial wellbeing.
The conversation highlights practical tips for achieving financial success both personally and professionally.
Chapters
00:00 Introduction to Financial Wellbeing
02:51 Sloan's Journey to Financial Coaching
06:05 Building Good Financial Habits
08:56 Tools for Effective Budgeting
12:12 Eliminating Debt and Planning for the Future
14:59 The Importance of a Profit Plan
17:45 Supporting Team Financial Wellbeing
21:05 Conclusion and Key Takeaways
Takeaways:
Financial wellbeing is crucial for franchisees and small business owners.
Good financial habits contribute significantly to personal finance success.
Budgeting should be viewed as a spending plan to encourage positive behaviour.
The debt snowball method helps eliminate debt effectively.
Emergency savings provide peace of mind and financial security.
A profit plan prioritizes profit and ensures business sustainability.
Investing in team financial wellbeing can improve retention and productivity.
Regular financial discussions within couples can enhance financial management.
Setting up separate accounts for profit and taxes helps manage finances better.
Small actions lead to significant financial improvements over time.
Sloans details:
Email: sloan@everydaymoney.live
Website: www.everydaymoney.live
#financialcoaching #personalfinance #budgeting #debtelimination #profitplanning #financialwellbeing #smallbusiness #franchisees #financialhabits #wealthmanagement #franchise
Unlocking the Power of Your Local Area Marketing (S2 E3)
In this episode of the Profitable Franchisees podcast, host Tracey Leak discusses the critical role of local area marketing in growing a franchise business.
She emphasizes that franchisees must actively engage in local marketing efforts rather than relying solely on the franchisor's branding.
Tracey provides insights on understanding the target audience, leveraging community engagement, and utilizing micro communities for effective marketing. She also highlights the resurgence of old school marketing strategies and offers practical tips for franchisees to enhance their local marketing efforts.
Chapters
00:00 Introduction to Local Area Marketing
08:47 Understanding Your Target Audience
14:11 Leveraging Micro Communities
20:37 Conclusion and Next Steps
Takeaways:
Local area marketing is essential for franchise growth.
Franchisees should not rely solely on franchisor marketing.
Understanding your target audience is key to effective marketing.
Community engagement can significantly boost local marketing efforts.
Micro communities can be targeted for more effective marketing.
Old school marketing strategies are making a comeback.
Quality of social media followers is more important than quantity.
People need multiple exposures to a business before purchasing.
Sponsorship should be meaningful and connected to the community.
Franchisees should leverage existing marketing systems and strategies.
#localareamarketing #franchisebusiness #marketingstrategies #communityengagement #targetaudience #microcommunities #oldschoolmarketing #marketingtips #franchisegrowth #marketingROI #marketing #franchise
Making It Happen with Dan Cahill (Jim's Mowing) (S2 E2)
In this episode of the Profitable Franchisees podcast, host Tracey Leak interviews Dan Cahill, a successful franchisee turned franchisor with Jim's Mowing.
Dan shares his inspiring journey from working long hours at McDonald's to building a thriving lawn mowing business. He discusses the challenges he faced, including financial struggles and burnout, and how he overcame them through hard work and determination.
Dan emphasizes the importance of creating high demand for services, maintaining a routine, and providing excellent customer service.
His story highlights the potential for success in franchising and the value of resilience and adaptability in business.
Chapters:
00:00 Introduction to Dan Cahill's Journey
01:28 From McDonald's to Jim's Mowing: A Life Change
04:48 The Hard Work Behind Success
08:04 New Chapter
08:18 Building a Thriving Business
15:05 Transitioning from Franchisee to Franchisor
21:52 Expanding Territories and Opportunities
28:51 Key Messages for Franchisee Success
Takeaways:
Dan started his career at McDonald's, working long hours.
He faced financial struggles before joining Jim's Mowing.
Dan borrowed money from his mother-in-law to start his business.
He worked seven days a week for the first year and a half.
Burnout led Dan to restructure his business for sustainability.
He focused on building regular mowing rounds for consistent income.
Dan became the first franchisee to reach 500 five-star reviews.
He transitioned from franchisee to franchisor with Jim's Mowing.
Dan emphasizes the importance of creating high demand in business.
A set routine is crucial for success in entrepreneurship.
#franchising #businesssuccess #Jim'sMowing #entrepreneurship #work ethic #franchisee #franchisor #customerservice #businessgrowth
Welcome Back - Let's Reboot the Podcast! (S2 E1)
In this episode of the Profitable Franchisees podcast, host Tracey Leak shares her journey of creating the podcast to support franchisees with valuable strategies and success stories. She reflects on personal challenges, including caring for her mother, which led to a hiatus from the podcast.
However, encouragement from listeners and a touching encounter with a franchisee inspired her to reignite the podcast, promising exciting new content and interviews to help franchisees thrive.
Chapters
00:00 Introduction to the Profitable Franchisees Podcast
02:53 Personal Journey and Motivation Behind the Podcast
05:45 Impact of the Podcast on Franchisees
08:58 Future Plans and Commitment to Franchisees
Takeaways:
The podcast aims to provide powerful strategies for franchisees.
Tracey shares her personal journey and challenges faced during a difficult time.
Listener feedback has reignited Tracey's passion for the podcast.
The importance of community support during tough times is highlighted.
Tracey plans to introduce more coaching programs for franchisees in 2025.
The podcast will feature success stories from various franchisees.
Free resources can still provide high value to listeners.
Tracey emphasizes the importance of multitasking while learning through podcasts.
Listeners are encouraged to subscribe and share the podcast with others.
Tracey invites potential guests to share their stories on the podcast.
#franchise #businessstrategies #podcast #successstories #coaching #franchiseesupport #businessgrowth
Ep 50 - Merry Christmas
I just wanted to take a moment of your time to express my gratitude for listening to the podcast and wish you a Merry Christmas!
In this episode, I'll take you through the same questions I would ask of a franchisee asking me in person. How to work out for yourself if a marketing campaign is a good one to do or not.... and we are not talking in terms of marketing, but in terms of return on investment.
Ep 42 - Plan for 2020 Now #3
Yes it is November, but we are talking about how to plan and set up your 2020 for success. Don't wait until the 1st of January to start planning your year... now is the time! This is the third instalment to this 4 instalment series 'Plan for 2020 Now'.
Remember to come grab the latest issue of the Profitable Franchisees - The Monthly Insider. I bring to your a business lesson each month to add more value to you and best of all.... it's 100% FREE. www.ProfitableFranchisees.com
Ep 49 - Positioning Statements
So do you find that you get to the end of a sales appointment and you don't know how to close the sale, ask for the sale and you basically walk away from the sale, making a friend, rather than a sale? Yes, I've done that too!
In this episode, I'm going to take you through how to position the sales appointment at the start to help you lead your prospect to make a decision and to make it far simpler for you to ask for the sale.
This will be helpful for anyone that needs to make sales, but in particular, those that are selling a service.
In this episode, I'll take you through the same questions I would ask of a franchisee asking me in person. How to work out for yourself if a marketing campaign is a good one to do or not.... and we are not talking in terms of marketing, but in terms of return on investment.
Ep 48 - Building with Team with Debbie Rains
This interview with Debbie from Travel Associates is so interesting. Running 6 stores plus a work from home team in Far North Queensland for a long time, Debbie has seen many ups and down in the world that have directly affected the travel industry. This is a great podcast to learn how to work in a 'people' business and how to operate a multi-store franchise business.
Remember to come grab the latest issue of the Profitable Franchisees - The Monthly Insider. I bring to your a business lesson each month to add more value to you and best of all.... it's 100% FREE. www.ProfitableFranchisees.com
Ep 47 - Why loyalty will take you far.
Loyalty - a value that is so important in business and more so in franchising. In this episode I explore so thoughts about loyalty and how it relates to being a profitable franchisees.
In this episode, I'll take you through the same questions I would ask of a franchisee asking me in person. How to work out for yourself if a marketing campaign is a good one to do or not.... and we are not talking in terms of marketing, but in terms of return on investment.
Ep 46 - More than Coffee with Damien Gallagher
What a great chat I got to have with Damien from Shingle Inn on how he has built up his successful business in Victoria. Damien shared some great insights and tips for ALL franchisees, not just those in food and beverage. Absolutely one to put on the must listen to list for sure.
Remember to come grab the latest issue of the Profitable Franchisees - The Monthly Insider. I bring to your a business lesson each month to add more value to you and best of all.... it's 100% FREE. www.ProfitableFranchisees.com
Ep 45 - Should I do this marketing campaign?
One of the most asked questions I get is when a franchisee is considering doing a marketing campaign and then they ask 'Should I do this marketing campaign?"
In this episode, I'll take you through the same questions I would ask of a franchisee asking me in person. How to work out for yourself if a marketing campaign is a good one to do or not.... and we are not talking in terms of marketing, but in terms of return on investment.
Remember to come grab the latest issue of the Profitable Franchisees - The Monthly Insider. I bring to your a business lesson each month to add more value to you and best of all.... it's 100% FREE. www.ProfitableFranchisees.com
Ep 44 Plan for 2020 Now #4
Yes it is November, but we are talking about how to plan and set up your 2020 for success. Don't wait until the 1st of January to start planning your year... now is the time! This is the fourth and final instalment to this 4 instalment series 'Plan for 2020 Now'.
Remember to come grab the latest issue of the Profitable Franchisees - The Monthly Insider. I bring to your a business lesson each month to add more value to you and best of all.... it's 100% FREE. www.ProfitableFranchisees.com
Ep 43 - KPIs... what are you measuring?
KPIs (Key Performance Indicators) are crucial for every business, but what are you measuring? Let's talk KPIs and what you should be looking for when deciding which KPIs to measure plus some helpful hints and tips on KPIs.
Remember to come grab the latest issue of the Profitable Franchisees - The Monthly Insider. I bring to your a business lesson each month to add more value to you and best of all.... it's 100% FREE. www.ProfitableFranchisees.com
Ep 41 - Stop Complaining
Complaining in your business never helps you to grow a better, more profitable business. Here are some thoughts, ideas and tips to help you more because as humans, we all complain, but how can we do less of it and how can we avoid those that do complain.
Remember to come grab the latest issue of the Profitable Franchisees - The Monthly Insider. I bring to your a business lesson each month to add more value to you and best of all.... it's 100% FREE. www.ProfitableFranchisees.com
Ep 40 - Plan for 2020 Now #2
Yes it is November, but we are talking about how to plan and set up your 2020 for success. Don't wait until the 1st of January to start planning your year... now is the time! This is the second instalment to this 4 instalment series 'Plan for 2020 Now'.
Remember to come grab the latest issue of the Profitable Franchisees - The Monthly Insider. I bring to your a business lesson each month to add more value to you and best of all.... it's 100% FREE. www.ProfitableFranchisees.com
Ep 39 - Facebook Ads for Local Area Marketing
Are you using Facebook ads in your Local Area marketing plan? What are the best ways to use them? Will they work? Let's talk about it....
Remember to come grab the latest issue of the Profitable Franchisees - The Monthly Insider. I bring to your a business lesson each month to add more value to you and best of all.... it's 100% FREE. www.ProfitableFranchisees.com
Ep 38 - Plan for 2020 Now #1
Yes it is November, but we are talking about how to plan and set up your 2020 for success. Don't wait until the 1st of January to start planning your year... now is the time! This is the first instalment to this 4 instalment series 'Plan for 2020 Now'.
Remember to come grab the latest issue of the Profitable Franchisees - The Monthly Insider. I bring to your a business lesson each month to add more value to you and best of all.... it's 100% FREE. www.ProfitableFranchisees.com
Ep 37 - Confidence is Key
Often asked what is important to have in business and I believe that confidence is key to success. Not arrogance or over confidence, but more a quiet confidence. Let's explore this a bit further.
Remember to come grab the latest issue of the Profitable Franchisees - The Monthly Insider. I bring to your a business lesson each month to add more value to you and best of all.... it's 100% FREE. www.ProfitableFranchisees.com
Ep 36 - Business in Focus with Joel Adamson
In today's episode we talk with Joel Adamson from Real Property Photography (the current Franchisees of the Year for the brand). Joel had some great points on building relationships and asking 'Is there anything else I can do?'.
Remember to come grab the latest issue of the Profitable Franchisees - The Monthly Insider. I bring to your a business lesson each month to add more value to you and best of all.... it's 100% FREE. www.ProfitableFranchisees.com
Ep 35 - Are you 100% Committed?
A big one to ask yourself.... are you 100% committed? Are you playing to win or playing to not lose? Let's talk about it!
Remember to come grab the latest issue of the Profitable Franchisees - The Monthly Insider. I bring to your a business lesson each month to add more value to you and best of all.... it's 100% FREE. www.ProfitableFranchisees.com
Ep 34 - Long term success with Keenan Archer
In this episode, I get to chat with Keenan from Minuteman Press. He has been a franchisee for 19 years and with that comes a wealth of experience and knowledge. Such a great interview - no matter what stage you are at in your business! One to listen to for sure.
Remember to come grab the latest issue of the Profitable Franchisees - The Monthly Insider. I bring to your a business lesson each month to add more value to you and best of all.... it's 100% FREE. www.ProfitableFranchisees.com
Ep 33 - Come with Solutions
In this episode I'm talking to you about some strategies to help with team (new and old) and also to help yourself when you go to the Franchisor or Head Office team with a question.
This one will be a great lesson if you have team ALWAYS asking questions of you.
Remember to come grab the latest issue of the Profitable Franchisees - The Monthly Insider. I bring to your a business lesson each month to add more value to you and best of all.... it's 100% FREE. www.ProfitableFranchisees.com
Ep 32 - Running a good business with Glenn Kiddle
Was great to get to interview Glenn Kiddle from Hire a Hubby. I've met Glenn a number of times at events and he always has so many great tips and hints for franchisees, so it was time that I interviewed him for the Profitable Franchisees Podcast.
Glenn was fresh off a plane from a few weeks off, including attending the Hire a Hubby conference where he received a number of awards, including Franchise of the Year... for the second year!
Remember to come grab the latest issue of the Profitable Franchisees - The Monthly Insider. I bring to your a business lesson each month to add more value to you and best of all.... it's 100% FREE. www.ProfitableFranchisees.com
Ep 31 - Getting through Frustration in your business.
Well, for something a little different, today I take you through my real life process for overcoming frustration in business.... why different? Because that is what I was experiencing this day.
Remember to come grab the latest issue of the Profitable Franchisees - The Monthly Insider. I bring to your a business lesson each month to add more value to you and best of all.... it's 100% FREE. www.ProfitableFranchisees.com
Ep 30 - Lead and Lag with Soon Khoo
So excited to interview Soon from ChaTime who was recently named Western Australian Franchisee of the Year! How exciting :)
Great interview with Soon and some great little 'nuggets' to take away for your business.
Remember to come grab the latest issue of the Profitable Franchisees - The Monthly Insider. I bring to your a business lesson each month to add more value to you and best of all.... it's 100% FREE. www.ProfitableFranchisees.com
Ep 29 - What can you see for me?
One of my favourite questions to ask is what this episode is all about. Something that my coach got me to ask all those years ago before I became a coach.
This question is perfect for franchisees to ask their business support team at head office.
Want to know the full question? Get listening :)
Remember to come grab the latest issue of the Profitable Franchisees - The Monthly Insider. I bring to your a business lesson each month to add more value to you and best of all.... it's 100% FREE. www.ProfitableFranchisees.com
Ep 28 - The business of people with Esther Colman
Today I'm excited to bring you this interview with Esther Colman, Franchisee with the HR Dept. Not only do I get to pick Esther's brain on her business, I also ask her some questions about HR and employment which I think will be valuable for everyone. I even learnt something new.
Come check it out - great interview.
Remember to come grab the latest issue of the Profitable Franchisees - The Monthly Insider. I bring to your a business lesson each month to add more value to you and best of all.... it's 100% FREE. www.ProfitableFranchisees.com
Ep 27 - Character
Over the last 15 years of coaching, I've found that there is one vital thing in every business owner (franchisee or not) where if you don't pass this test, your business will go downhill.... fast.
Come check out this episode to ensure you are on track and won't fall into this trap.
Remember to come grab the latest issue of the Profitable Franchisees - The Monthly Insider. I bring to your a business lesson each month to add more value to you and best of all.... it's 100% FREE. www.ProfitableFranchisees.com
Ep 26 - Stepping up with Emily Slevin
What a delight to have Emily on the podcast today. Emily is from Aussie Pooch Mobile and we talk not only about working with animals but also how Emily stepped up and took on the master franchise for the state.
Remember to come grab the latest issue of the Profitable Franchisees - The Monthly Insider. I bring to your a business lesson each month to add more value to you and best of all.... it's 100% FREE. www.ProfitableFranchisees.com
Ep 25 - Don't get too concerned with change in the franchise
Change is something that is always going to happen in business... and life! So it is not unreasonable to expect that over your time as a franchisee within your brand that you will see and experience changes in the system, processes or even legislative changes that will impact how you run your business.
In today's episode, I talk to you about how to work through that change and why you should keep the focus on your business.
PS. Sorry... I have a bit of a cold!
Remember to come grab the latest issue of the Profitable Franchisees - The Monthly Insider. I bring to your a business lesson each month to add more value to you and best of all.... it's 100% FREE. www.ProfitableFranchisees.com