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Dear Franny Answers Franchisee Operational Questions
This forum has been created so that guests and members can write to Dear Franny about franchisee operational issues and questions. Dear Franny is a panel of franchise experts and thought leaders who are selected by the editor to answer questions. And then, of course, our members and guests are free to post remarks.
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Five Guys UFOC
Does anyone have a copy of a recent Five Guys UFOC? Thank you. Michael J. Lockerby FOLEY & LARDNER LLP Washington Harbour 3000 K Street, N.W., Suite 500 Washington, D.C. 20007-5143 Direct Dial: 202.945.6079 Cell: 804.399.6089 Fax: 202.672.5399 E-mail: mlockerby@foley.com Admitted to practice in the District of Columbia and the Commonwealth of Virginia2007 UFOC?
The 2007 UFOC is here: http://134.186.208.228/caleasi/search.asp?TASKNAME=xshowDocs&PackageID=239466
As for the 2008, FDD why not write them directly and make a reasonable request?
Michael Webster PhD LLB
Franchise News
Jimmy John's Gourmet Sandwiches
Dear Franny, Do you have the scoop on Jimmy John's Gourmet Sandwiches??? I have a couple of partners interesting in this concept. ThanksWhere can I get a UFOC document for Jazzercise to review?
I would like to review the Jazzercise UFOC (FDD) but can't find it online. I requested it from the company but did not receive a response. Where or how can I get a copy of the complete document to review? Thanks.Jazzercise FDD
You can get it here:
http://134.186.208.228/caleasi/search.asp?TASKNAME=xshowDocs&PackageID=262127
Michael Webster PhD LLB
Franchise News
20% Rule
Does any know of a ruling that states as a franchisee you are allowed to purchase up to 20% outside the sole-preferred vendor so long as it does not infringe on propriety product?20% Rule
Did you ever get an answer here?territory identification
Are franchise geographic territories (for business services) available in the public domain or is this something that needs to be purchased through a vendor.Blue Coast Financial
Does anyone have info about Blue Coast Financial, please? Fredblue coast financial
I'm looking for information on blue coast as well. Have you learned any thing? so far I don't have very much. a little negitive but not much. Dave Austin daustin11@earthlink.netBlue Coast Financial
RUN. I was taken for a ride and lost $20K, plus many months and other dollars invested in their 'programs'. Don't get me wrong - the programs are legit - but they (Blue Coast) promised the moon, and all I got was a moon pie smack in the face. RUN, don't walk, to the nearest exit!Blue Coast
You are not alone. I am in the same boat. Their promises are empty and expensive. They charge you for everything like brochures, training, etc. and no guarantee at all. you also pay for leads that are worthless and unqualified. Plus your fee % keeps changing.Blue Coast Financial
I got the same moon pie smack in the face. I would be interested in hearing more about your experience. Give me a call at 646 345 2685 or let me know how to reach you. Thank you.Re: Blue Coast Financial
Thanks for you time today. Mike Price 713 391 45 46Blue Coast
Fred
I am ready to sign up with these folks as an affiliate, maybve we can share some information.
Thanks
Bob Anthes
Blue coast Financial
I have a Blue Coast Financial Business that I am looking to sell. They are a great company, however, it is not for me. I would be willing to get into great detail about the services they offer.Blue Coast
Did you sell you franchise? Thanks JimBlue Coast
I'm interested, please send me more information.Blue Coast Financial
I am looking to purchase this franchise and would like to talk. Let me know if you are still looking to sell. pesherllc@gmail.com.Blue Coast
Have you purchased Blue Coast yet? Please let me know. ThanksBusiness For Sale
How much are you selling it for? What is it about the business that is not for you, I just want to make sure it would be fit for myself. Thanks.Blue Coast
I am considering joining Blue Coast and wanted to get some perspective from someone who has already joined. If you do not mind donating a few minutes of your time and experience, I would like to find out more from you. Please contact me at anytime at 301-325-9566 or email me at gpierpont@gofirsthome.com Thanks, Gary PierpontBlue Coast
I would like to know more about your Blue Coast business. I am getting ready to sign on with these folks as an advisor.
Please feel free to call or email me.
banthes@hotmail.com
561-779-3177
Bob Anthes
Blue Coast
I am currently in discussions with Blue Coast. I would be interested in talking. My number is 972-788-4188. mike.nevins@swbell.net.Blue Coast Financial Group
I have been interested in an opportunity such as this and would like information. I am particularly interested in learning whether their claims have been substantiated and if the support is really as strong as they suggest in their promotional pieces. In addition, I need to learn about the earnings opportunities. Please feel free to contact me either by email or cell. I look forward to hearing from you. Don Foley foleydonald@sbcglobal.net (317) 341-2892 Cell PhoneBlue Coast Financial
I'm aware they seem to think they're a business opportunity but not a franchise. I'm unclear why they don't think they're a franchise.UFOC and Fraud
If a section 4 of UFOC (prior litigation) has this statement "No litigation is required to be disclosed in this offering circular" and you recently found out that in fact there are 12 lawsuits, is the entire document fraud?blue coast financial
are you refering to blue coast having 12 lawsuits?Prior litigation
"If a section 4 of UFOC (prior litigation) has this statement "No litigation is required to be disclosed in this offering circular" and you recently found out that in fact there are 12 lawsuits, is the entire document fraud?"
There are a few more details one would need to know. Were these suits by franchisees against the franchisor? Were they underway (or completed) by the time the UFOC was published?
Prior litigation
Thank you for your prompt response. Details-all 12 were prior to us signing. And the majority are for breach of conract/warranty. In reading rule 436.1 section (4)(ii) "Has, at any time during the previous seven fiscal years, been held liable in a civil action resulting in a final judgment or has settled out of cour any civil action or is a party to any civil action...." All 12 lawsuits name either the name of company or the two principals. From your statement, are you suggesting that this only applies to franchisees?re: Prior litigation
"From your statement, are you suggesting that this only applies to franchisees?"
No. I'm simply trying to look at the materiality of the litigation.
re: Prior litigation
Thank you again - I feel better already. Now (1) if lawsuits were not disclosed on UFPOc is that fraud. And (2) If that is the case, does that make the entire franchise agreement invalid. Thank you.misrepresentation or material omission
Misrepresentation/material omission is a basis for rescinding a contract. What state's law applies to the contract?UFOC and Fraud
The state is California and thank you again, I should use misreprsentation/material omission instead of fraud. Where do I start and what are the remedies?UFOC and Fraud
California's franchise statute provides for rescission in the case of wifull violations and/or damages. You should get an attorney. That may be a California attorney or an attorney where you're located, depending on various factors. Call me if you'd like. As the saying goes: "I know people."
Thank you
As the saying goes "When one door closes, a window opens" Thank you for your website and for giving me and others like me hope. A greedy franchisor can take all your monetary possessions-but they can't break you. What's your direct number and best time to call?direct dial
206-676-7513
Today after 11:00 PDT is fine.
You are wonderful!
Thank you. Do you know of a ruling that states as a franchisee you are allowed to purchase up to 20% outside the preferred vendors so long as it does not infringe on propriety product?Fun Bus - Fitness Fun on Wheels
Has anyone heard or does anyone know anything about the Fun Bus franchise?House Cleaning services
Can someone give me the skinny on house cleaning franchises. Molly Maids,Maids Service etc. I am consdering buying one. ThanksTry Molly Maids
Try molly maids ----------------- Senorlimpio.com House Cleaning PhoenixAnyone have an opinion on "Batteries Plus"?
Good, bad or otherwise.Batteries Plus
Like any financial investment, as well as something that will take over a big piece of your life, you need to take the time to really determine not only what the business is about, but how it may fit your needs and vice-a-versa. Batteries Plus has been around for 20 years, in fact I believe the offer of $20,000 off the franchise fee is still in effect marking the event. The idea seems sound, there is sales on the internet to consider, sales by every other retailer of some portion of the product line. The plus of Batteries plus seems to be the broad line from watch batteries to automobile batteries. Google +"Batteries Plus"+"lawsuits", and you may be surprised how clean they seem to be compared to many other franchisors. Just don't think it is all light work as some of the batteries are heavy and come to you by the pallet load requiring a suitable delivery entrance and storage area plus some physical strength and agility. Talk to as many franchisees as possible and decide if this is for you. I think the name is a big plus, I have considered trying to knock off the concept but have been held back by not being able to come up with an effective name that describes the business as well and sourcing the wide range of batteries is a large chore as well.Who to believe?
Husband and I looking into franchise purchase. Every franchisor we have spoken with have spun a story that sounds WAY tooooo good to be true. I keep asking myself "if there is that much money to be made running the units, why doesn't corporate just keep 'em?" Don't know who to believe anymore. Did a little research and believe I know the appropriate industry (#3 in fastest growth) but then spoke with 'franchise consultant' (who I don't think is really out for my best interests because he's pushing one toooo hard. Kickback?) who is leading me in another direction. When I indicated a strong desire for that industry he then gave us an option for a franchisor that is only 1-1/2 years old. The one we liked, and found on our own, has been around 12 years but admits to a 20% termination rate per year. Consultant says that is way too high as national average for franchises is between 8-10%. I'm reading the failure rate of franchises is near the same as any new business, around 85% I don't know who to believe anymore. HELP How do you find a franchise?re: Who to believe?
The one thing you should realize based on your post is you do not need a franchise referral broker! So terminate your acquaintance with him and begin your own search. You will be better served by your own efforts.
The Truth Shall Set You Free!
TIF
"HELP How do you find a franchise?"
That's the wrong question. Your question should be: "HELP! How do I enter this industry?"
No one should set out with a goal of buying a franchise in my opinion. Buying a franchise might be the best available way for some to enter a particular field or industry, but it is rarely the only way.
Re: Who to believe?
Yourself! A large dose of caveat emptor is always a good idea especially for a significant investment like a business or franchise.
How much capital/cash do you have to invest?
How much money have you set aside for pre-purchase investigation and professional advice?
The Truth Shall Set You Free!
TIF
Termination of Franchisee - ceasing business operations
Any tips on termination of a franchise agreement? What typically happens, what franchisors want agreed to... We do know there will be a NDA, in all likelihood. We know we technically have to abide by the contract we originally signed. We are trying to negotiate it a little as there is no way (chapter seven) that we can pay royalties/advertising for the remainder of the contract. But other than that, we are looking for any advice. We have notified our vendors that we will be paying them in full. We are trying to finish work for all of our customers. We have notified the few employees we do have. We have never closed a business before. No hard feelings against the franchisor, just not a viable business model in our area. Thanks in advance.Consult a Debt Settlement Service
Termination of Franchisee Guest: This is the time to talk to a professional debt settlement service company. Jim Herst has blogged on Blue MauMau and he's obviously good at what he does, with many years of experience, including with the franchise industry. Here's his website: http://www.performancesourceinc.com/ Here's one of Jim's blogs: http://www.bluemaumau.org/the_franchisee_with_insurmountable_lease_and_its_satisfying_amendment Mr. Herst has written that BMM readers can call him without obligation. That call may save you a lot of money and headaches. From what I understand, the window of opportunity in your situation is quite short, and it looks like you may be there right now. Consult him before you say anything at all to your franchisor about terminating your agreement.Termination Advice
Here is what I would advise: go and talk to the lawyer who did your pre-purchase due diligence and ask him or her what their advice would be.
Michael Webster PhD LLB
Franchise News
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