Cuppy's Coffee Sold!
Mr. Robert Morgan and Ben Doyle have stepped down. The current president, Mr. Doug Hibbing, will be interim president until a replacement can be found.
Mr. Nabors had been providing consulting services to Cuppy’s franchise system for over a year on operational issues, including the setting up of a purchasing co-op of goods and services for franchisees.
The new owner gave a short interview to Blue MauMau discussing the immediate challenges the company has. Mr. Nabors states, "We are curtailing franchise sales. We are focusing our efforts on opening stores that have been sold. And we will focus on making profitable our open stores."
Elite, the construction arm that builds Cuppy's properties, has been embroiled in disagreements with Cuppy’s depositors and franchise owners. The organization took on deposits from a number of investors, but controversy erupted when franchises were not purchased and deposit money was not returned.
Nabors declares, "We are fully aware of the refund challenges faced by the organization and we are addressing those and evaluating those on a case-by-case basis and look forward to resolving those as quickly as possible."
Mr. Nabors will provide more details on the acquisition in an interview with this journal on Tuesday.
- Franchise topic:
Actually, I would beg to differ with this response. If you are looking to invest your money in a new franchise company, you would want to know the financial status of said company.
This is one of the things that i always looked at with Cuppy's/Medina/Elite. They didn't show consolidated financials, so a prospective franchisee has no clue how 'strong' the company really is because expenses may be in one of the other companies that doesn't have to be disclosed in the ufoc/fdd. We saw that Elite didn't have the cash reserves to pay back refundable deposits, and it sounds like the other companies didn't have it either for intercompany loans.
Knowing the true state of the company after this purchase would be valuable to a prospective franchisee.
for all these bamboozled folks to go get the same bankruptcy lawyer and couple an aggressive bankruptcy lawyer with an aggressive franchise litigator.
A street smart bankruptcy lawyer coupled with an aggressive franchise litigator can clean Cuppy's clock - make life so impossible for Cuppy's that Cuppy's has to start doing something remedial or lose the entire franchise system.
In bankruptcy court the franchisees can repudiate the franchise agreements and leases, or they can repudiate the franchise agreements and do something else with the leased premises. They can also assert claims in bankruptcy against those who done 'em wrong, even if they aren't the owners now.
Will they get together and pony up some resources to get it done? Probably not. They will in all likelihood just continue to whine and complain, and in the end just get ground out one at a time. --
Richard Solomon, FranchiseRemedies.com, has over 45 years experience with franchise litigation and crisis management. He is a graduate of The Citadel and The University of Michigan Law School
Richard Solomon, FranchiseRemedies.com, has over 45 years experience with franchise litigation and crisis management. He is a graduate of The Citadel and The University of Michigan Law School
Cuppy's franchise owners have been operating their stores for less than a year. I would think almost all are hoping that their stores can be successful. I don't think that there are a lot of disgruntled franchise owners.
They are not at the whining stage yet. That's coming.
It seems to me that it is important to emphasize that Doug Hibbing is staying ONLY until a replacement can be found for exactly the point you make -- the need by the firm to make a clean break from Cuppy's past.
Judging from his action, the new owner, who used to frequently post here, seems to insitinctively understand the problems of "keeping the same old people there to do the same dirty work". I would imagine that is why it was announced that Morgan, Doyle and soon Hibbing are going or gone.
That sends a strong message to me - and I think the franchise network and the market - that there is a new owner in charge, and of new beginnings.
Deja vu all over again? Perhaps.
But let's see what happens this week.
Paul Steinberg
Franchisee Attorney, New York City, Ph: 212-529-5400
Paul Steinberg, Franchisee Attorney, New York City, Ph: 212-529-5400
OK, so one Guest compares Dale Nabors to God and one calls him a telemarketer.
We do know that he's moved on from telemarketing, but I'm not qualified to say how he compares to God. Only Jim Amos can make that judgment.
Paul Steinberg
Franchisee Attorney, New York City, Ph: 212-529-5400
Paul Steinberg, Franchisee Attorney, New York City, Ph: 212-529-5400
but if you are an advocate of relative state formulation, it necessarily follows that yes, in some instances, God is now indeed in charge of a small coffee franchise.
Cuppy's should try selling additional related products, like scrotal prosthetics. The name fits perfectly.--
Richard Solomon, FranchiseRemedies.com, has over 45 years experience with franchise litigation and crisis management. He is a graduate of The Citadel and The University of Michigan Law School
Richard Solomon, FranchiseRemedies.com, has over 45 years experience with franchise litigation and crisis management. He is a graduate of The Citadel and The University of Michigan Law School
"Does you not want to give..."
Sometimes I think Southerners speak a different language, bless their hearts.
What great news!
I believe you will do the right thing for all of Cuppy's stakeholders.
Cuppy's has tremendous potential, and you have the knowledge and skills to enhance the value, and the integrity to share that value among all the stakeholders.
I look forward to learning more about it.
Jim Coen
877-469-3002
Blog: Lets Talk Franchising
Jim Coen is the Executive Director of the New England Franchise Association
Jim Coen
877-469-3002
Blog: Lets Talk Franchising
Executive Director of the New England Franchise Association
President, Dunkin Donuts Independent Franchise Owners (DDIFO, Inc.)
If our guest was impressed with Jim Nabors lifetime accomplishments in regards to leading a franchise, then he probably is not the guy to judge whether Dale has the right leadership stuff or not.
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