When freshly squeezed juice retailer Jamba Inc. reports its quarterly results early next month, the potential is there for more franchising of its Jamba Juice store locations, as well as more share buybacks, reports The Deal's senior writer Ron Orol. All of this is thanks, in part, to a recently concluded campaign from activist investors that resulted in two of the dissidents being added to the company's board. After threatening a proxy contest, Glenn Welling, of Engaged Capital LLC, and JCP Investment Management LLC's James Pappas were both added to Jamba's board in January, with the stated purpose of getting the company to consider franchising most of their company-owned stores. And while Welling and Pappas are only two voices on a nine-person board, their presence a little over half a year later appears to be having the desired impact: Jamba CEO James White recently announced that the company is on track to reach its goal of 90% franchised stores and only 10% company-owned units by the end of the year, a move that is expected to generate between $60 million and $70 million in cash. Emeryville, Calif.-based Jamba also announced recently that it has hiked its share repurchase authorization from $25 million to $40 million and that it planned to use some of the proceeds from the franchising initiative to buy back shares.