got a bad franchise what to do?

**frankeyzee** · 11-20-2007 09:47 AM

I got a bad franchise that didn’t even have a system in place. I studied it the franchisors seem to have all the systems in place but they did not. Because of the bad service of the franchisors commissary and the high rent of the mall my debts are growing. I am planning to shut down before the year ends. Now I am seriously in debt to my dad and owe him almost a hundred thousand how do I bounce back? What do I do next?

**pjb2u** · 11-20-2007 12:02 PM

I wish I could help you! what kind of franchise is it? more info and i could try my best to help

**energycompany** · 11-20-2007 10:28 PM

I suggest you list the franchise for sale right away. Just try to recoup some of the money you have lost. The next owner may have the time it takes to wait for the business to be profitable.

Below is a website where you can list your franchise for sale for only $69.95.

Sell My Franchise Online for Only $69.95 - Franchise Buyers Network

**LiveWise** · 11-20-2007 10:44 PM

That is a good reason to research the company fully. With buying an expensive franchise, and knowing that so many businesses fail within the first year, it can lead to disaster!!! There are companies that don't care about the franchisee as long as they get their money. That is where the companies make much of their money. I have a friend that bought a franchise for $300K. It will take about 15 years just to break even--if he makes it that long. That is if he doesn't pay himself for his time involved there too. Be careful!!! Look at the cost, training, length of time to justify the cost, and talk to other franchisees. The company will paint the best picture available.

I bought a franchise with weekly training from top Business experts--One is Robert G. Allen (Best Selling Author of about 10 business books--each book has sold in the
millions.) They give plenty of coaching and training. I also like that they have a one year "Better Life Guarantee" that after one year, if my life is not better for doing business through them, they will refund 100% of my monthly fees. Can't get better than that.

**franchisebrief.com** · 12-11-2007 07:01 PM

This sound like the typical example of the buyer who fall in love with the product but doesn't dig further.

What I would recommend is listing your franchise for sale. Also look into the franchise agreement you signed. Did the franchisor do his part of the job as stated in the agreement? If not, you may want to take him to court.

**hl68** · 12-28-2007 10:06 AM

LiveWise, I was wonderning what franchise you are talking about? I would be interested to learn more about it. Thank you.

**BusinessAdviser** · 12-28-2007 11:47 AM

Top 10 Franchises for 2008 - Entrepreneur Magazine
1. 7-Eleven Inc.
2. Subway
3. Dunkin' Donuts
4. Pizza Hut Inc.
5. McDonald's
6. Sonic Drive In Restaurants
7. KFC Corp.
8. InterContinental Hotels Group
9. Domino's Pizza LLC
10. RE/MAX Int'l. Inc.

**rogercbryan** · 12-28-2007 04:55 PM

You can also go the eBay Store Route:
Snappyauctions.com
i-soldit.com

Both were ranked as some of the fastest growing franchises this year.
Each will cost about $50K-$100K to get started

**Sales33** · 01-01-2008 07:42 AM

Sonic is fast food....it's 8 out of 10

**franchisebrief.com** · 01-15-2008 03:40 PM

Originally Posted by jmenq2

Top 10 Franchises for 2008 - Entrepreneur Magazine
1. 7-Eleven Inc.
2. Subway
3. Dunkin' Donuts
4. Pizza Hut Inc.
5. McDonald's
6. Sonic Drive In Restaurants
7. KFC Corp.
8. InterContinental Hotels Group
9. Domino's Pizza LLC
10. RE/MAX Int'l. Inc.

I would not rely on these ratings!!!
I mean, how do they rank franchisors? This has never been explained. To me it seems to be ranked in entrepreneur top 500, you have to spend advertising $ with them....

**b10g** · 01-15-2008 04:24 PM

In the UK I know N5 Ltd do a number of good franchises, I should no I created one and used to work there

Quickie Products - One of the simplest, easiest and most lucrative franchises ever...
thebestof - The UKs fastest growing franchise/business opportunity - The Best Of
Raring2GO one of the UKs leading franchise opportunities. Get the work life balance.

**BusinessAdviser** · 01-15-2008 04:27 PM

Originally Posted by franchisebrief.com

I would not rely on these ratings!!!
I mean, how do they rank franchisors? This has never been explained. To me it seems to be ranked in entrepreneur top 500, you have to spend advertising $ with them....

It has been explained, just not here. Check out the magazine to have it explained to you so that you can rely on them (to whatever extent you then deem reasonable).

**6ixty6** · 02-10-2008 07:19 AM

Do they have a website?

cheers

**Paint and Air Sportz** · 02-12-2008 09:23 PM

Originally Posted by franchisebrief.com

I would not rely on these ratings!!!
I mean, how do they rank franchisors? This has never been explained. To me it seems to be ranked in entrepreneur top 500, you have to spend advertising $ with them....

Not at all, I work with 711 we havent put an ad in with Entreprenuer all year.

**NamesCody** · 02-13-2008 11:28 PM

Also, there are companies that buy out businesses that are going out of business. Given they won't give you as much as you put in but if you were looking for something to get in return, my business partner has a friend who makes millions buying companies going out of business and resales the products to others so if you are interested I may be able to get you in touch with them. Just PM me your contact information, name of business and any other details you feel relevant and I'll try to pass it along to them.