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Red Robin
For guests and members who want to comment or get information on Red Robins restaurant chain.
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Red Robin Experience/ Due Diligence
I was hoping someone who's spent time in the chain either as a franchisee (past or present) or general manager would be willing to share their thoughts on the business? I'm interested in any thoughts you'd be willing to share, but am particularly interested in the relationship between Red Robin Corporate and the Franchisees. I appreciate your responses.
Why don't you simply apply and request ab FDD?
Why go on a website like BMM asking questions about a specific company when you can send an application to Red Robin and receive their Franchise Disclosure Document (FDD) that contains the names of current and former franchisees?
Additionally, Red Robin (NasdaqGS: RRGB) is a public company which also may be helpful to you as well.
RR and DD
This isn't due diligence: you are simply looking to confirm your views. Probably don't even know it.
Michael Webster PhD LLB
Franchise News
Getting Input from Ex-Franchisees
Michael seems to be getting a little testy of late. We cannot know if this person just wants confirmation to buy.
The post presents a good problem. If they contact Red Robin for a UFOC, the sales people will begin to incessantly call to persuade to invest. And when one is in the initial research stage, that may not be what one wants.
Because Red Robin is large, CalEasi of California, and probably other states, exempt Robin from registering disclosure documents. That brings up two conundrums...
Confirmation Bias
Bob;
The best way to get a UFOC is simply to wait until after July 1st, 2008 and then have someone you know ask for it directly.
The new FTC Rule requires production. It will dramatically change the way DD is done.
As for being testy, our boy/girl could have simply looked up the website and read: "Thank you for your interest in franchise opportunities with Red Robin. Currently, there are no Red Robin franchise territories available and Red Robin is not actively franchising to new franchise partners, including internationally."
Oops.
Michael Webster PhD LLB
Franchise News
Where to Get Disclosure Documents
Disclosure documents can be purchased at Frandata.com for $250.
Some disclosure documents are available for free at FreeFranchiseDocs.com. But I do not see Red Robins on their disclosure document list today.
Ex-franchisee Listings
Franchise experts and legal eagles can comment about how reliable the listings of ex-franchisees are in Item 20, list of outlets. It should be noted that a list of ex-franchisees is a hot item of contention for franchisee investors. A seperate forum has been created on the accuracy of the reporting of Item 20 and the ease of franchise churning without being detected among some franchisors.
It should be noted that Item 20 format has changed in the new franchise disclosure document for 2008. In one of the tables in the updated Item 20 format, franchisors are supposed to list ex-franchisees in the past 3 years. The federal government or registration states do not read or monitor the accuracy of those reports.
This is great news
Franchisors are suppose to list ex-francisees in the past 3 years.
This is great news
Franchisors are suppose to list ex-francisees in the past 3 years.