Maine source of frustration. Maine Franchise Owners Association (MFOA) seeks anecdotes of local franchise owner troubles.
Many Maine residents have found both a profitable living and vibrant job creation for their region via franchised businesses. Others have been less fortunate – facing financial ruin from a franchise model that did not work or a franchisor that didn’t care. Franchise failure often leads to financial ruin, loss of home and even, due to stress, end of marriage or even suicide.
The Maine Franchise Owners Association (MFOA) is dedicated to seeking better protection and identifying best practices for franchise owners in the state. MFOA seeks your anecdotes of Maine franchise trouble, and failure.
You can write your Maine story in the remarks below in this forum.
The Maine Franchise Owners Association (MFOA) with offices on 415 Congress Street, Portland, ME, includes franchise owners and sponsors throughout the State of Maine. Franchise members are affiliated with various brands and in many different industries – from fast foods to professional services.
“Franchise failure is often devastating to both the franchise owner, employees and the communities they serve,” noted Jim Coen, Executive Director of Maine Franchise Owners Association. He added, “The Maine Franchise Owners Association seeks to improve conditions that lead to franchise success. By hearing the painful, personal stories from those who have experienced frustration and failure, we can help create better conditions and greater chances for future success and job creation.”
Please also share a personal story of franchise failure by calling Jim Coen at (207) 274-2046, visit MaineFranchiseOwners.org, or email Jim@MaineFranchiseOwners.org.
Six Tim Hortons franchises were closed in Maine last month
<p>Tim Hortons now has only 25 franchise-owned stores in Maine. In December alone, the Portland Press Herald reports that six closed:</p>
<p>The closing of restaurants in Portland, Brunswick, Lewiston, Augusta, Rockland and Skowhegan leaves Tim Hortons with 25 coffee, doughnut and sandwich restaurants in the state, said Brynn Burton, a spokesman for the company’s U.S. operations.</p>
It is franchisees money at stake!
Brynn Burton, a spokesman for the company’s U.S. operations. said "All the restaurants in Maine are owned by franchisees".
The brand lost future revenue*, maybe even some brand value, but the franchisees lost the money.
*Some franchisors choose to chase failed franchise owners for royalties that the franchisor claims they are due, even if the business is closed. In the hotel sector it is referred to as liquidated damages.