FranchiseU!

In this episode of FranchiseU!, Dr. Kathy Gosser and Dr. Isabel Botero joined by Bonny and Marcus Shelton, who share their incredible journey as multi-generational KFC franchisees. The Sheltons recount the inspiring history of Bacon Enterprises, Inc., starting with Bonnie's father in the 1960s, through their significant contributions to the KFC community, and culminating in the successful exit from their family business. They discuss the keys to their success, including family unity, clear communication, and strong ethical values. The Sheltons also share their strategies for managing a family-owned business, the importance of transparent operating agreements, and their comprehensive approach to ensuring the well-being of their employees during the sale. This episode provides valuable insights into maintaining family harmony while achieving business success.Time Topic00:00 Introduction and Co-Host Welcome00:20 Meet the Shelton Family: Multi-Generational KFC Franchisees01:27 Bonnie's Story: The Early Days of Bacon Enterprises04:10 A Family Business: Challenges and Triumphs07:14 Marcus's Journey: From Childhood Memories to Business Leader12:10 The Next Generation: Roles of the Shelton Daughters15:27 Growth and Leadership: Expanding the Franchise18:25 Working Together: Family Dynamics in Business22:46 Balancing Family and Business23:12 Leadership and Conflict Resolution27:35 Values and Principles in Family Business28:34 Decision to Sell the Business31:20 Navigating the Sale Process37:36 Celebrating and Reflecting on Success40:03 Advice for Family Businesses42:58 Final Thoughts and Gratitude

In this episode of FranchiseU!, Dr. Kathy Gosser speaks with Jamie Krasnov, CEO of Apex Leadership Company, about his journey from finance to philanthropy-driven entrepreneurship. Krasnov discusses his background in private equity, his passion for franchising, and the innovative fundraising solutions provided by Apex Leadership. Apex conducts fun runs and other events at schools to raise funds significantly while teaching leadership, fitness, and wellness. Krasnov explains the franchise model, emphasizing its low entry cost and the support provided to franchisees. Apex aims to serve thousands of schools, driven by a mission to build future leaders and support underprivileged communities. Jamie Krasnov is a dedicated business leader who currently holds the position of CEO at Apex Leadership Company. In this role, Krasnov has been instrumental in steering the company's strategy and execution to increase value to the Apex franchisees and Apex schools across the nation. His determination to elevate the company’s led to the brand seeing an outstanding 200% revenue increase since he took stepped into the role as CEO in 2021. Before his tenure at Apex, Krasnov founded Heritage Operating Partners, a private equity firm supported by other operators concentrated on fast-growing franchisors. Prior to Heritage, Krasnov served in various investing roles across private equity, public equity, and investment banking for a decade. He graduated with honors from the University of Texas. Krasnov resides in Houston, Texas, where he enjoys spending time with family and his two dogs.

In this episode of FranchiseU!, Dr. Kathy Gosser has a speaks with Erika Wasser,co-founder and CEO of Prospr, a groundbreaking app designed to streamline communication, shift management, and culture building in multi-unit operations. They delve into the challenges of effective communication within franchises, especially with hourly team members. Wasser shares her journey from TV hosting to entrepreneurial ventures, highlighting the creation of Prospr. The discussion covers the app's features, such as scheduling, accountability measures, and an engaging bulletin system, emphasizing its significant ROI and impact on employee retention. Wasser also touches on the importance of adapting communication methods to modern needs and her vision for the future of Prospr.Time Topic00:00 Introduction and Episode Teaser01:23 Meet Erica Wasser: Entrepreneurial Journey06:00 The Birth of Prosper at Work07:16 How Prosper at Work Enhances Communication10:33 Innovative Features of Prosper at Work12:42 Building a Positive Work Culture15:47 Adapting to Modern Learning Styles16:44 Challenges in Workforce Engagement17:49 Customizing Prosper for Brands18:22 Franchisor vs Franchisee Engagement19:02 Addressing Franchisee Pain Points22:04 The Importance of Communication and Culture27:37 Future Innovations for Prosper28:58 Reflections and Closing Thoughts

In this episode of FranchiseU!, Dr. Kathy Gosser speaks with Michael Seaman,co-founder and CEO of Swipesum, a comprehensive payment processing and merchant services consultancy delivering innovative auditing solutions to businesses nationwide. Seaman founded Swipesum in 2016 with his brother, Stephen, to serve as Chief Payments Officer for businesses nationwide, combining industry knowledge, AI and proprietary software to create a transparent payments strategy that optimizes payment processing fees. The company has been recognized by the Inc. 5000 as one of the fastest-growing privately held companies in the U.S. and by Entrepreneur as a 2024 Top Franchise Supplier. Before starting Swipesum, Seaman worked at Worldpay after graduating from Samford University where he earned a place in their Athletics Hall of Fame as a pole vaulter. In the episode Seaman shares his early entrepreneurial experiences, including an Etsy business and niche products, and how his upbringing influenced his career. Seaman explains Swipesum's unique approach in helping businesses, particularly franchises, with merchant services and payment solutions. He delves into the company's use of AI to optimize services, their transparent pricing structures, and how they've earned top franchise supplier ratings. He also highlights the importance of human touch in customer service despite AI advancements. Seaman discusses his journey from college entrepreneur to heading a technology company specializing in payment processing solutions. The episode concludes with a look at the future of Swipesum and reflections on Michael’s professional journey and insights into the franchise industry.

In this episode of FranchiseU!, Dr. Kathy Gosser speaks withWill Cantrell, a seasoned employment and franchise attorney, regarding the intricacies of franchise law. Cantrell, Founding Partner of Cantrell Schuette, P.A. is a nationally recognized leading attorney in handling complex disputes, litigation, and trials. Apart from his background in general commercial litigation, he specializes the areas of employment law, partnership and shareholder law, and franchisee/dealership law. Cantrell is a graduate of FSU College of Law (J.D., magna cum laude, 2008), where he was selected for the Order of the Coif, graduating in the top five percent of his law class. He also received a master’s degree in international economics from FSU (M.A., cum laude, 2005) After law school, Cantrell obtained a coveted judicial clerkship with the Honorable Hugh Lawson, United States District Court Judge for the Middle District of Georgia. Gosser and Cantrell discuss due diligence for potential franchisees, emphasizing the importance of consulting existing franchisees and being cautious of sales pitches. He highlights key elements of the Franchise Disclosure Document (FDD) to review, including financial disclosures and the experience of those running the franchise. Additionally, Cantrell touches on the implications of joint employer rule changes by the NLRB and how proposed alterations could affect the franchise model. He advises new franchisees on negotiating franchise agreements and underscores the need for legal support when entering a franchise agreement. Cantrell also reflects on his career, expressing pride in building a successful law firm specializing in employment and franchise law. 

In this episode of FranchiseU!, Dr. Kathy Gosser and Co-Host with Dr. Isabel Botero speaks with Aaron Engler, President of Border Foods, a large family-owned Taco Bell franchisee, and Mollie Sommer, Community Engagement and Outreach Specialist. Engler and Sommer share their backgrounds, professional journeys, and the roles they have undertaken in the family business which operates over 250 Taco Bell restaurants with 7,000 employees. Sommer details her transition from various positions in Chicago to a year-long stint at a Taco Bell restaurant, eventually moving into community engagement. Engler discusses his expansive journey from failing out of college twice to taking on multiple roles within Border Foods to eventually leading it for nearly 20 years. They explore the entrepreneurial spirit, governance, and family dynamics that define Border Foods. The discussion highlights key values like family, teamwork, and accountability, and emphasizes the importance of communication in family businesses. They also discuss initiatives such as a unique two-story drive-thru Taco Bell named 'Defy' and their generous community outreach efforts.

In this episode of FranchiseU!, Dr. Kathy Gosser speaks with Kenny Rose the Founder and CEO of FranShares. After Rose shares his experience on the TV game show, The Price Is Right, Gosser and Rose discuss how franchises represent amazing investment opportunities and uniquely benefit investors, operators, and local communities. FranShares is an innovative investment platform democratizing access to franchise ownership. With over a decade of experience in finance and franchising, Rose has worked with over 600 franchise brands across 100+ industries. As a Certified Franchise Executive (CFE) with the International Franchise Association (IFA), Rose is recognized for his expertise in franchise evaluation and deploying capital to maximize returns and operational efficiency. Rose began his career at Merrill Lynch after earning a degree in Financial Services from San Diego State University. While there, he acquired his FINRA Series 7 and Series 66 licenses and specialized in wealth management for high-net-worth individuals. His passion for entrepreneurship led him to join the world’s largest franchise brokerage, where he guided aspiring franchise owners through the evaluation and acquisition process. He later founded Semfia, a brokerage focused on income-generating, manager-run franchises. Under Rose’s leadership, FranShares bridges the gap between investors and the franchise economy, fostering wealth creation through fractional franchise investments. His insights on franchising have been featured in Forbes, Business Insider, ABC, The Hustle, American Express, and the Amazon-featured book, “More Than Just French Fries.” His work has reached over 300 million people worldwide.

In this episode of FranchiseU!, Kathy speaks with Onyi Odunukwe. The discuss Odunukwe’s unique journey from studying nursing to becoming a successful entrepreneur in the tanning salon industry as CEO of Glo Tanning. Despite initial family disapproval and an industry marred by bad press, Odunukwe’s perseverance led him to build over 100 salons that offer a range of services beyond tanning, including red light therapy. Odunukwe’s emphasizes the importance of technology in running Glow Salons efficiently, the need for franchisees to become or provide committed operators, and his own innovative business model leveraging real estate. Odunukwe also discusses the challenges of staffing and the 'Own Your Future' program, which helps employees become store owners. The episode sheds light on the significance of relationships in franchising and maintaining high standards and low costs for services.

In this episode of FranchiseU!, Kathy discusses the critical role of family-owned businesses in the global economy with Dr. Isabel Botero, an expert in family business and a professor at the University of Louisville. Dr. Botero shares her insights on the unique challenges and opportunities faced by family-owned franchises, emphasizing the importance of early preparation, effective communication, and strategic planning for generational transitions. The conversation covers topics including onboarding the next generation, fostering collaboration among siblings, and the impact of family dynamics on business operations. Dr. Botero also highlights the significance of involving children in the business from a young age and she provides practical advice for current business owners on how to mentor and gradually involve their successors. The episode aims to equip franchise owners with essential strategies to ensure their family business thrives across generations. If you have any questions about Family Business and Franchising, send me an email to franchisemgmt@louisville.edu.

In this episode of FranchiseU!, Kathy sits down with Shawn Brady, the HR Director of Harman Management Corporation, the first franchisee of Kentucky Fried Chicken (KFC). Brady shares his 51-year career journey, from starting as a shy 15-year-old to becoming a key figure in the corporation’s human resources and training services. He discusses the deep-rooted culture of the brand, the importance of treating employees well, and how Harman Management has maintained its values over the decades. Brady offers insights into the history of KFC, its unique franchising structure (relevant to Harman Management). He highlights the evolution of the company, its current state, and future aspirations - including its unique partnership practices and recognition programs. Brady also provides advice on understanding franchise partnerships and the importance of knowing contractual obligations. The episode emphasizes the significance of people and culture in achieving long-term success in the franchise business.