Cision PR Newswire
Creating Brand History: Just Between Friends Franchise Sold to New CEO Tracy Panase
News provided byJust Between Friends Franchise System, Inc.
Jan 24, 2023, 10:24 AM ET
Leading Pop-Up Consignment Franchise Enters New Era with 15-Year Franchisee Purchasing the Company
READING, Pa., Jan. 24, 2023 /PRNewswire/ -- Just Between Friends, North America's largest and leading children's and maternity pop-up consignment community marketplace, makes a historic brand announcement: the sale of the company to newly appointed CEO, Tracy Panase. Effective immediately, Panase has purchased the company and stepped into the role of CEO. This monumental news comes off the heels of a successful year with nine new franchise agreements, 317 total consignment sales events across the U.S., and accumulating more than $41 million dollars in systemwide sales in 2022.
Panase was first introduced to the world of franchising in 1999 when she and her husband became franchisees of Cookies by Design. She then discovered Just Between Friends in 2008, signing on as a franchisee in Reading, PA. Since she had experience in the franchise space and belief in the Just Between Friends concept, Panase quickly found success and soon bought three additional territories throughout the greater Philadelphia area.
With a longstanding history with Just Between Friends, Panase has already played an instrumental role in its success. Over the past 14 years, she and her husband have grown to be the largest revenue producer in the system, having joined the 'Million Dollar Club' back in 2012. Panase's husband has taken over as sole owner of their Just Between Friends local operations so she can focus solely on the role of CEO and franchisor.
"Stepping into the role of franchisor was a natural next step of this journey and one that I am extremely honored to take," said Panase. "I instantly resonated with the solution Just Between Friends was providing as a parent – and now I am able to utilize my franchisee experience to make a stronger impact on the brand as franchisor. I look forward to sharing my experience as a franchisee with the system, help other families achieve their entrepreneurial dreams, and lead the brand into its next era of growth."
Former CEO and Co-Founder, Shannon Wilburn, will take on the role of Brand Ambassador where she will provide strategic advisement for the next three years. Just Between Friends became a franchise in 2003 and has since grown across 31 states with more than 151 locations under Wilburn's leadership.
"Seeing Just Between Friends grow from our first sale in a living room 25 years ago to a national franchise has been more than a dream come true," said Shannon Wilburn, Co-Founder and Brand Ambassador of Just Between Friends. "Tracy is the exact right person to pass the torch to and I'm confident she will continue to enhance the legacy we've built while taking the business to new heights."
Now after purchasing the franchise system, Panase looks to make Just Between Friends a household name through strategic partnerships with synergistic brands and providing greater access to families through building out a robust franchise development pipeline.
At a Just Between Friends sale, parents and grandparents can shop rows and rows of baby and children's shoes, toys, clothing, maternity, and baby equipment at 50 - 90% off retail prices, and as a consignor, they can sell items and earn from 60 - 70% on item sales. At the end of each Just Between Friends sale, items are donated to local organizations which help local women, children and families, serving groups that provide clothing closets, crisis centers, transitional emergency care, food banks and many other services.
For more about Just Between Friends and its franchise opportunity, visit https://jbfsalefranchise.com/.
Just Between Friends (JBF) is North America's largest and leading children's and maternity pop-up consignment community marketplace and is the only franchise in this vertical to employ an industry-leading safety and recall expert. Just Between Friends provides a resource for families shopping or selling items for a variety of reasons – from saving money on a strict budget to family trips – as well as providing a sustainable resource in the consignment sale space. What began as a sale between a few mom friends, including former CEO, Co-Founder and Brand Ambassador Shannon Wilburn in 1997, has grown into a nationwide phenomenon with more than 151 franchises in 31 states.
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SOURCE Just Between Friends Franchise System, Inc.