Seeking stories of franchise locations that didn't work out as planned for tool kit
I am part of a new organization called IS Franchising 4 You. We are a completely unbiased, educational company aimed at creating a supportive community and a network of available experts for franchisees. We are NOT taking money from any franchise operation...and it will stay that way.
We have a tool kit put together aimed at helping people navigate the franchise purchase minefield. We are in the process of putting together a second edition and need some help.
We would like to hear from a few people who have had or are having an experience with a franchise that didn't turn out as planned. Everything from an operation that fell apart...to one or two aspects that weren't what you expected. Maybe a little reflection on how it could have gone differently. We're hoping to help people not make the same mistakes. Rather than make up fictional accounts, we though it better to hear from real people.
If you think you might be interested, drop me a line at [email protected] We'll protect your identity!
Meantime, check out the website too...www.ISFranchising4You.com. Maybe we'll see you on the message boards...which recently opened up!
Thanks a bunch in advance!
Eagle boys Mildura
I had my house paid off after many years of hard work. I was looking for some financial stabilitity a new challenge and this was a so called cash cow . The plan buy set up the store , live off the minimum put all money back into the store to build the business and pay it off and then put a manager in and live off the profits partial retirement.
No No No, buy franchise set up shop with some problems but that was the easy part. Grand opening with just one trainer and 1 week to train new staff. Thousands of dollars of food waisted due to oven temperature problems and in experienced staff. Internet problems , Got smashed as everyone in town wanted pizza which was great but the staff and store could not cope. One trainer. First month , struggle to pay food bills and then first 3 months could not pay bank money back , then the GST bill and for the next 3 years of not building a future but trying to save my house working 90 hours. Week to get the cogs under control. What a nightmare and the franchise wanted their commission the bank want their money the rent the wages the food costs then the floods hit , everyone wanted a slice of the pizza and their was none left for me and I was doing all the work. I could earn more money sitting on the beach all day than opening the store. Could not sell no escape, mentally strained, financially screwed and body buggered with no more to give. Lossing my house and family brake up was my reward . No one to help me living in a caravan park with no money depressed and no one to fight for me. I see stories of people loosing their home to fire and how tramatiic it was well what about people that work hard and loose their home, we can't put an insurance claim in and get money to rebuild. We don't get warning the fire is coming. We don't get community support or councilling . We don't get hand outs we are not thought of in yet the community was always getting our support when we were in business with discount pizza and free pizza to fund raisers. I think there is a gap and no offence I am not saying that people who loose their house to fire is not as traumatic it is but who is there to help the people who loose their homes to these franchises while they continue to operate. There should be support from the franchises, more ownership of the distress they caused.