The franchise industry is unique in so many ways, but that is not always good. For most, buying a franchise, next to buying their home, is the biggest investment they will make. Unlike all other investments they make, they risk everything in buying a franchise, every asset they own, and then some. You ask, how […]
Is Dickey’s BBQ Franchising’s Next Quizno’s? 28% Systemwide Churn
It’s not easy to forget the Quizno’s saga. Once one of the darlings of the franchise industry, growing through franchising to nearly 5,000 locations, but today, just under 400 in the United States. Many franchisees lost everything (investments, savings, their home), and as stores closed, eventually the franchisor filed for bankruptcy protection. Yet, has the […]
Three Stories of Maine Franchise Owners or Franchisors Doing Business in Maine
Three Stories about Quiznos, Coffee News and Dunkin’ Donuts. Quiznos: Maine franchisees of the franchising firm that earlier this month filed for bankruptcy, failed miserably under a broken business model. Some are questioning what detriment there was to their state’s economy. Analyzing the sub sandwich chain’s past franchise disclosure documents shows there was approximately $5.4 […]
Franchise Owners Beware: Despite The Myths, Franchises Can Fail
Bruce Kennedy, Benzinga Staff Writer reports that the recent Chapter 11 filings of two national restaurant chains, Sbarro and Quiznos, are drawing new focus on the opportunities and challenges faced by franchises. U.S. Census Bureau data from 2007 showed franchise businesses employed over 58 million U.S. residents, while bringing in revenues, sales, shipments or receipts of over $7.6 billion. And […]
Quiznos Goes Bankrupt My Three Observations and One Possible Salvation
Quiznos filed for bankruptcy late last week. Interesting enough the Quiznos franchise chains troubles at a time when similar sandwich franchises like Subway and others seem to be thriving. Serious flaws and seemingly fraudulent practices in the Quiznos’ business model led to the company’s demise. Here are my basic three observations for the chains seemingly […]
Failed Quiznos Franchisees Drag Maine Economy Down
Portland – As Maine Quiznos franchisees fail miserably under a broken business model, some are questioning what detriment there will be to their state’s economy. Analyzing the sub sandwich chain’s past franchise disclosure documents shows there was approximately $5.4 million in citizen economic loss. The human toll is even larger. Quiznos franchisees and their families have been and will be devastated financially and personally for the remainder of their lives. While the […]