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OWNER -TO- OWNER
AUGUST 2024
www.franklinbuildingsupply.com | 208-514-2200 | 9222 W. Barnes Dr., Boise, ID 83709
RISKS AND REWARDS OF COMPANY OWNERSHIP Riding the Wave
Just a couple of months ago, Franklin gathered as friends and coworkers to share a meal and celebrate the fantastic opportunity of being employee-owners. I hope you enjoyed the event because being an employee-owner is worth celebrating. This may be hard to see in day-to- day activities, but in my 26-year professional career, Franklin is entirely different from any company I’ve worked for. Employee-owners like you are not just a part of the company but are central in decision-making around safety, equipment, facilities, and operations. At the employee-owner celebration, after revealing the share price, Levi discussed why and what it means for Franklin’s share price to decrease. Here are a few points as refreshers and to keep in mind over the coming years. Firstly, life is full of risk. Many will define risk as “the possibility of suffering loss or injury”; however, this only tells half the story. I like to think of risk as possible loss and/or reward. A vacation has risks of bad weather or cancellations, along with the rewards of
exciting adventures and lifelong memories. Friendships risk sadness or heartbreak with the reward of happiness and support. A Franklin owner risks time and energy for the reward of money and accomplishment. The reward is because of the risk, which is why Franklin’s stock price can go up and down, and that’s okay. Most savings accounts pay very low interest because there is no risk. Companies and their stock are the default investment option worldwide because of the tradeoff between risk and reward. Part of thinking like an owner is understanding that business and investments are long-term activities. It takes years to build a solid customer base, establish a new truss plant, or develop ourselves for new roles and responsibilities. Franklin embodies all these aspects, and as owners, it’s crucial to adopt a long-term perspective. Franklin’s first stock price in 2016 was $6.97. Seven years later, at $54.80, Franklin stock averages an annual return of 98%. Compare this to the U.S. stock market of around 11%–15%. The general economy is another significant factor impacting a company’s value and share price. If there is a lot of economic activity, companies and their stock will be worth more, as there is a more significant opportunity for success. Just like when a sports team is having a winning season, and everyone is cheering them on, more people want to be part of the action when the economy is doing well. The housing market in 2023 had the lowest number of new homes for sale
on record and over 16% down from 2022, impacting almost all companies, including Franklin, in the housing market. As much as we would like Franklin’s share price to go up every year, it’s part of the challenge to accept the bad news along with the good news. I hope there will be questions and concerns if the stock price goes up and up every year with no bad news. The great thing about the Franklin ESOP is that employee-owners receive more stock shares each year. This increases the total account balance, which is what matters the most. As we all know, the housing market can be volatile, and Franklin understands and accepts this risk. The coming months may pose challenges that are difficult to predict. However, our collective efforts as employee- owners in demonstrating and upholding Franklin’s core values of Safe, Guide, Wow, and Strive will undoubtedly have the most significant impact on our stock price in 2024 and beyond. Your company is prepared and resilient in the face of these challenges.
–Aaron Price
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HIGH FIVES!
Guide From: Cody Huft, Jerome Transfer Yard
To: David Inocencio, James Bird, Tim Morrell, Jerome Transfer Yard I just wanted to take the time to thank each of these individuals this morning. These fine gentlemen have done above and beyond what the job calls for in their day-to-day tasks; they have also been extremely helpful and extraordinarily generous. Every single day, they teach me something new and help me in my own personal growth, never withholding information and always providing wisdom and insight at all the right times. Whenever I think of the words “high five,” I think of these guys. Always embodying the meaning of team in almost every occasion. Thanks, guys, for all your help and patience. Wow From: Kyle Whalen, McCall To: Yard and Drivers, Truss Delivery Team, McCall I would like to give a BIG high five to the McCall Yard Crew and Driver for their great work on the Buildsmith/Dunstan Project in River Ranch Subdivision. Also, a big shoutout to the Franklin Truss Delivery Team for the double trucker they pulled off for the same job! Our builder was very pleased with the first load coming out. Strive From: Eric Heiden, Burley To: Shane Amen, Burley Shane had shown me how he likes to do take-offs as part of my estimator training. Today, I was having some issues, and he told me that the way he showed me was just how he preferred to do them. He then explained a few alternative ways to do them and to do whichever way was fastest and easiest for me. Thanks to him, I not only know how to do my new job, but I now know how to do it as efficiently as possible.
Easy From: Zac Luker, Burley To: Ethan Crane, Burley
Ethan has gone above and beyond to track down a missing door for a customer that was accidentally delivered to the wrong job site. He took on the role of Sherlock Holmes and tracked the product down better than a bloodhound. And today, he took on that role again tracking down a special order electrical box for a customer with skills rivaling the Hardy Boys. I reckon he’s better than Nancy Drew! Thanks for all you do, Ethan! Safe
From: Alex Evans, TVID Exterior To: Jared Choat, TVID Exterior
Jared is on an installation job, and I received a call from the neighbor across the street who has been observing the build of this home since it began. The homeowner said he has never seen a worker move with caution and care yet with so much hustle. The homeowner also complimented FBS, saying that he recognizes we take safety seriously, and it shows in the work all our installers are doing. He followed that up by saying that it is refreshing and motivating to see safety and care being taken seriously in the world we live in today. He continued to compliment Jared, saying that he could tell how much attention to detail and care Jared puts into his work. You are the man, Jared. Keep up the good work, brother! We are all lucky to have you on our team.
FBS COMMERCIAL LOCATION HIGHLIGHT
Has anyone been driving around and noticed what looks to be a newly stocked lumber yard, only to drive by a few weeks later to see a multifamily community, office building, or retail space taking shape? That commercial work is an essential segment of the industry we operate in. While our core business is in the residential construction segment, involvement in both sectors provides a significant competitive advantage since these segments often run in opposite building cycles. Our ability to understand and adapt to these internal cycles is a key factor in our business growth and financial health. As an owner, this strategic planning is music to my ears. Commercial-type projects are more extensive in almost every sense, from the sheer amount of material required to the extensive planning and design phases through construction. It is common for these projects to take up to 24 months from the initial bid to the end of the construction phase.
Our commercial team in the Treasure Valley consists of Steven Morgan, Scott Alpha, John Weitenstiener, and Spencer Davis. Steven Morgan has been a member of our sales team for almost six years. He came to FBS from the commercial construction world, where he was a project manager. Scott Alpha is the other member of the sales team. He is rapidly approaching his first anniversary with us. He led the sales effort for a large commercial construction company, specifically within the modular sector of the industry. John Weitenstiener is 36 years into his career with Franklin. He has an almost unreasonable amount of experience with everything related to the construction industry and deep knowledge of what FBS has to offer and how we can make building easier for the customer. This makes John the perfect fit for our commercial team.
Spencer Davis has been with FBS for six years. He started as a driver at the Boise door shop and then moved to the sales counter at the Boise location, where he learned the business. He has now moved into the account coordinator role, supporting Scott and Steve. By leveraging the strengths of our diverse team, particularly our commercial team, we can navigate the complexities of the construction industry, capitalize on cyclical opportunities, and continue to deliver exceptional results for our customers.
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SORE THUMBS … At our company, being an employee-owner means more than just holding a stake in the business. It’s about embodying a sense of pride and
of pointing out problems, and supporting your colleagues because their success is your success. When someone walks through our facilities, they should immediately notice the dedication and care we put into our work. Employees who don’t understand or embrace this should stand out like a sore thumb! Let’s take pride in our roles and show what it means to be an employee-owner. Remember, when we work with the mindset of owners, we contribute to a thriving company that benefits all of us. So, next time you clock in, ask yourself: “How can I OWN my job today?” By doing so, you’re not just working for a paycheck — you’re building a future for yourself and your fellow owners. – Anthony Henry EO GUIDE
responsibility in everything we do. Every warehouse swept, handle set received, truss plate set, and order shipped represents our shared commitment to excellence and our collective future. We are fortunate not to have some family’s name on the front of our buildings or have some conglomerate trying to wring every drip out of our stock prices. Imagine the difference it makes when each task is approached with the mindset that the success of the company directly impacts YOUR financial success. This isn’t just a job; it’s your business, your legacy, and your family’s future. Employee ownership should shine through in our daily tasks. It means going the extra mile to ensure quality, finding solutions instead
SEPTEMBER BIRTHDAYS
LOCATION - EMPLOYEE - YEARS SEPTEMBER ANNIVERSARIES
Burley Burley
Quintin Luker Jacob McBride Jess Johns James Thomas Eddie Gonzalez Keven Sanchez Tyler March TJ Richardson Lexi Langenfeld Tristen Benavidez Hunter Whitaker Louie Perkins Ethan Wilson Frances Buchanan
1 1 1 1 1 1 1 1 1 2 2 2 2 2 3 3 3 3 3 4 4 4 4 4 4 5 5 6 6
Sandi Palmer Justin Blaha Darwin Kossman Linda Szerwo Dale Amen Alan Lundholm Oliver Ott Miguel Sanchez Macias Barney Florence Nick Lang Dallas Sorenson
6 6 7 7 7 7 7 7 8 8 8 9 9
Corporate Corporate
Melissa Gray Glenn Robinson Aleks Pavlovic Rene Davila Kent Jobe Devyn Williams Jason Green Dan Diehl Bobby Taylor Jesus Gastelum Mitchell Thompson Julianne Meehan Hunter Williams Andrew Block Alex Brown Jeremy Pierce Austin Rosales Maggie Jimenez Josh Anderson Dakota Caudill Omar Granados Sarah Spence Alexander Neubauer
Hunter Whitaker Greg Dick Michael Brown Ciriaco Castillo Jordan Shaffer Rachel Spurgeon Trevor Lovejoy Skylar Phillips Alex Hatfield Shawn Kimball Becky Bartels Landon Lee Chris Mhire Robert Smyer Frances Buchanan Anthony Healey
1 1 2 2 3 4 4 5 5 5 6 7 7 8 8 8 8 8 9 9 9
18 19 20 20 20 20 20 20 20 21 21 22 23 23 23 23 24 24 24 25 25 26 26 26 27 27 29 29 29 30 30 30 30
Boise Boise Burley Caldwell Truss
Jerome Truss Jerome Truss Jerome Truss Jerome Truss McCall Caldwell Truss Jerome Truss Fruitland Pocatello McCall TVID - Interior Boise Burley Jerome Truss Pocatello Boise Finish Bellevue Pocatello Twin Falls Twin Falls TVID - Exterior
Caldwell Caldwell
Corporate Twin Falls McCall Sawtooth Door Bellevue Corporate Caldwell TVID - Interior Pocatello Boise Boise Finish Twin Falls Boise Finish Corporate Jerome Truss Elko Fruitland Boise TVID - Interior TVID - Exterior McCall
Kyle Whalen Lindsay Ross Cory Griffith Robert Smyer Pablo Cruz
11 11 11 12 12 13 15 16 20 21 22 23 27 32 41
Alicia Allen Scott Way Jason Rice Isaac Serratos Gregory Nicolaisen Nathan Bruns David Casillas Maldonado Quintin Luker Kris Hudson Arman Jader Pour Marhaba Mohammad Aziz
Mark Romero Jared Wallace
Brandyn Williams Gregory Nicolaisen
Cory Christensen Kevin Montgomery Jose Martinez Jake Ruffridge Lana Bryan Scott Ranstrom
10 10 12 13 14 14 14 15 17 17 17 17 18
Taylor Jefferies Trevor Abrams Michael Purcell Amanda James Javier Ramirez Jesslynn Lund Vinny Pettit Daniel Loseke Collin Bautista Art Diaz Byron Hinson
Ramon Negrete Adam Hinshaw Chad Beebe Elliot Fuller
Jeff Keeney Bryce Luker
Michael Alaniz Kyler Tegethoff Christian Anderson Derek Taylor Jason Vieth Dylan Shields Dathan Williams
Brady Kowitz Xavier Garcia Freddie Caldera Frank Cardenas
Corporate Corporate Boise Corporate Fruitland
Libby Walters Tom Mosgrove James Dowen Scott Penrod
Zach Phillips Jose Linares
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PRSRT STD US POSTAGE PAID BOISE, ID PERMIT 411
www.franklinbuildingsupply.com 9222 W. Barnes Dr. Boise, ID 83709
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Riding the Wave of Company Ownership
High Fives!
FBS Commercial
Sore Thumbs …
September Birthdays and Anniversaries
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Robert in the Spotlight
Our team members make all the difference. As the faces of Franklin Building Supply, they greatly impact both our customers and team members. Working alongside individuals who genuinely care about their colleagues and customers is always a pleasure. This dedication to fostering a supportive and collaborative environment is second to none. We are proud of the mutual respect, positive atmosphere, and camaraderie our employees bring to the table. Robert McCormick, a Lead Load Builder at our Twin Falls location, has contributed to our success for four years. In a leadership role, he creates house packs for contractors and customers, but he wears many hats — he’s pretty much everywhere at all times! He jumps into any project to help out where he can and positively impacts his team. For Robert, his main priority is to ensure he and his team members make it home safely each day to their families (or dogs, in his case). Outside of work, he loves to get outdoors and get his hands dirty in his yard and rose bushes. He’s a video gamer and also enjoys jamming out to old-school rock, blues, or soul music. FEATURING: ROBERT MCCORMICK IN THE SPOTLIGHT
Robert, we are thrilled to have you as an integral part of our Franklin Building Supply family. Here’s to many more years of success!
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