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: Davidbarr@pmtd.com
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
Franchise Directory - https://www.sba.gov/document/support-sba-franchise-directory
Franchise Registry - https://www.franchiseregistry.com/
Current SBA SOP - https://www.sba.gov/document/sop-50-10-lender-development-company-loan-programs
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
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