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Joey Matthews You are what?

You are the vice president of Menchies franchising yet you hide it from public view,

Why?

Are you a franchise broker speculator who takes money from weak people and sell them crap franchises?

quiznos

HI. Quiznos never appeared to dedicate itself to mastering the two key metrics in franchising: franchisee relations and franchisee profitability. We at Franchise Performance Group would welcome the opportunity to discuss helping quiznos reinvent their brand and alter their future.

Joe Mathews
Franchise Performance Group

Franchise Times Courts Quiznos Attorney Ric Cohen

Today's Franchise Time Beth McEwen posts an email from Quiznos attorney Ric Cohen about the apparent settlement of 12 Quiznos legal actions by franchisees in Denver.

http://www.franchisetimes.com/news/March-2014/13-Plaintiffs-Settle-Cases-Against-Quiznos/index.php#comments

Beth didn't say it, but reading between the lines, here is what Ric said:

These Quiznos plaintiffs had no chance. We threatened to countersue them, and besides they couldn't see anyway due to their participation in the 2010 action. Small franchisee groups and attorneys run out of money.
And besides, Quiznos is out of money. I'm sure glad I'm done representing Quiznos since there is risk I might not be paid.

A Quiznos Conversation

I know this looks bad Wall Street guy but I, Dcik Schaden, can turn this around. I just want to say one word to you. Just one word. Are you listening? Waffles. Not plastics. Waffles. Exactly how do I mean? Waffles my boy. There's a great future in waffles. Think about it. Will you think about it? Waffle sandwiches. Waffle wraps. Waffle appetizers. Waffle waffles. Waffles for breakfast, lunch, and dinner. Waffles in, waffles out of my talking oven. Waffle love. Waffle churn.

PQMWWAFFLES

Waffles? You CAN NOT be serious. They've already tried breakfast! I'm not sure why that didn't take off like delivery, torpedoes, bullets, Sammie's, chili, the pepper bar, switching from coke to Pepsi, cheaper meat, more expensive cheese, green and red logo, red and green logos, the marketing rats, the talking toaster, soup, and now the new savor PASTA. In hind sight, waffles may be the saving grace compared to all this other crap. You're right...Waffles ARE the future. (& closures)

Prove Q's Model Works

I just did. See my comments below. It's all about selling the sizzle and waffles. When you put your faith in just meat and cheese your chasing the magic bean. Stop and think about WAFFLES. Waffles are the future.

Prove Q's Model Works

"Surprised" visitor can always put his money where his mouth is. Buy one and show the rest of us how it's done. Of course Schaden bad mouthed franchisees for years. Just like you. Then the smartest guy in the room put his "investors'" money where his mouth was and started opening corporate locations a few years back. They all failed in the first six months because overcharging franchisees is the only way to make money in this system. Q admitted as much in the settlement with franchisees a few years back. Those "investors" who bought the sirens song will get pennies on the dollar from the bankruptcy judge. And I laugh at them all. And I laugh at you for being a Schaden tool. Hahahahahahahahahahahaha

Surprised!

I'm just amazed at what I am reading. I've been enjoying their quality toasted subs at their excellent franchise locations for over a decade now. How can you not make money with this model? It can't be the employees or ownership's fault. Between the economy, Obamacare, and the liberal business media, I just can't believe things ARE THAT bad.

Must be operator error. Let's get this thing turnaround people!

Harsha, Harsha, Harsha!!

Doing for Quiznos what he did for Friendly's!!

Mmmm...Bankruptcy

The Next Ad Campaign

Lightweight CEO & Former Hairdresser

Where's Greg McDonald now?

I don't think you do

I don't think you do

The solution...

Its all about "Fit" and "Books"

Bring Back Schaden

He's the guy most responsible for Quiznos' collapse. Let him sink in the mess that he created. And bring back Greg Brannanman. This guy was touted as a turnaround guru who did business in a Christian way. The anti-Schaden if you will who was going to fundamentally change the business model. He turned out to be nothing but just another Schaden water boy and "investor". Hopefully the Wall Street Journal or CBS will do an expose on Q and Schaden's other franchising efforts, like 123 Fitness, but I'm not holding my breath.

Joe Matthews Are you Kidding Me?

He is the vice president of Menchies yogurt and does franchise sales work work with Chem-Dry.

Mr. Blue MauMau's picture

CBS: "Quiznos preparing to file for bankruptcy"

Reporter Bruce Kennedy reports this morning on CBS MoneyWatch that Quiznos' may have a possible filing of bankruptcy (see below).

Janet Sparks was quoted.

Part of problem has been the company's years of disputes with its franchisees, some of whom who say Quiznos overcharges them for food and supplies. In 2009 Quiznos agreed to settle a series of class-action lawsuits by its franchisees for about $95 million.

Another lawsuit, filed last year by a group of store owners, accused Quiznos of devising "a way to steal hundreds of millions of dollars from its store owners each year by creating pass-through companies, such as American Food Distributors."

That plan, the lawsuit continued, allowed Quiznos "to add significant hidden mark-ups to the food, paper and other supplies that franchise owners were contractually obligated to buy from Quiznos, marketed as the 'Mandated Essential Goods'."

For the past several years, Quiznos has aggressively sought to expand overseas, and currently has locations in 30 countries outside the U.S. But back home for Quiznos, "it just seems the system continues to go downhill," said reporter Janet Sparks, who has been covering the restaurant chain for years and writes for Blue MauMau, a news site for franchise owners.

"These are people who have bought into this system, and there are thousands that have lost everything," she noted.

Quizos franchise owners approached for this article declined to comment.

Read the complete article here.

How to fix?

They should read STREET SMART FRANCHISING. By Joe Mathews

Who to Blame?????

I blame BUTTONS!!!

free to veterans

Have they not suffered enough, now we are going to bankrupt them when they return by given them a Quiznos...dear God is there anything they won't do to steal a dollar...

Q CEO looking for a job?

"Mr. Mathis was attending the International Franchise Association’s annual convention in New Orleans this week." - Article

While his company is in crisis, I suspect that it is even more urgent for Quiznos' current CEO to network at the International Franchise Association annual conference. After all, that's where he can find franchising companies that would like to hire the sort of leadership displayed at Quiznos. Let's call it "The Q Leader".

Hot garbage

Hot garbage

MMMMM Toasted

Here comes the (bankruptcy) judge, here comes the (bankruptcy) judge. Hahahahahahahahahaha. And just remember the guy most responsible for Quiznos' demise is trying to duplicate Q. Schaden's current effort is Smashburgers. Stay far, far away.

Quiznos is trash

Quiznos is trash

Oscar P Hoot's picture

I'd gladly pay you $40M Tuesday

My keen ear is hearing insiders whisper that Quiznos has roughly $40 million in EBITDA (cash flow) for 2013 but unfortunately has $60 million in interest payment of their renegotiated $600 million in debt to repay by Monday. Will holding company Avenue Capital find the money in the next few days? It is possible.

But more worrisome is that the collapsing sandwich chain and its shrinking royalty stream from franchisees will make payment of further outstanding debt by the franchisor more troublesome as time wears on.

This reminds me of what my old pal Wimpy once said, slightly rephrasing his now famous line for the benefit of Quiznos' noteholders:

I'll gladly repay you $4.00 Tuesday for a hamburger  already discounted and renegotiated $6.00 Quiznos today.

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