Key ideas from Joan Barnes

• Joan Barnes started Jimboree in 1976 after seeing a kids' gym program at Berkeley YMCA and thinking 'this is not really kid appropriate'
• By 1986, Jimboree had $15 million in revenue and 400 franchises, but the franchise model was fundamentally flawed and unsustainable
• Hasbro called off their acquisition deal at the last minute with Joan sitting in a New York hotel room: 'The deal is off. We're not coming'
• The retail store concept saved the company - combining Jimboree play centers with branded clothing stores in shopping malls
• Joan sold 70% of her company for $1 million while in eating disorder treatment, keeping 30% that later became worth millions after the IPO
• Jimboree went public in 1993 at $20 per share, closing at $38 on the first day, and was eventually acquired by Bain for $1.8 billion in 2010