FranNet's Top Franchisors Need Review
FranNet proudly displays the names of "successful" franchise systems it promotes to the public. Upon review of the list and given this writer's history with one of the systems mentioned, there are questions regarding information used in determining these "industry leaders."
FranNet of New England, one of the largest franchise consulting operations in the area, announced that 52 percent of the franchises it represents were named among the Top 500 Franchises by Entrepreneur.com in its 31st Annual Top 500 Franchise report. - BusinessWire
It would be beneficial to all at BMM if franchisees from the systems listed in this article comment about the franchisors to get a better read on the situation. Perhaps my experience with my franchisor will not be borne out by franchisees from other systems.
In the op-ed piece Blue MauMau, Mavi Marmara and the Net, Peter Silverman discusses his belief that most franchisees are happy with their systems. Among the systems listed by FranNet is a franchise that has lost about a third of its sites (yes, actually closed) in the last 2 years PLUS an additional number equal to half of the closed sites that were "transferred" (many for less than $20,000 - including one owned by the adult offspring of the franchisors who was unsuccessful even with his years of experience at corporate). Many more are near bankruptcy given the phone calls I have recently received.
I ask the intrepid contributors and readers of BMM to discuss this in more detail. If you are writing commentary for the first time please note you do not have to fill in your email address or provide any identifying information. Just comment as a "Guest".