Franchisees of this Denver, Colorado based sandwich franchise have been way too nervous about their fates for way too long. How would you like to own a franchise in which your franchisor can’t seem to get it’s act together? Fun.
Franchisee Kevin Tackett, past president of the Quiznos franchisee association and operator of 8 Quiznos units in Florida stated that, “Many stores remain open only on the hope that it will get better soon, and many of them have run out of time, and money. We all just want it done.” Read
News of a possible Chapter 11 style bankruptcy can’t feel all that good if you’re a local franchise owner of Quiznos. But, it could spell relief, and give this franchise chain a chance to turn things around. I’d like to hear from some Quiznos franchisees on this.
Here’s something that you may not know, if you’re not in the franchise industry;
Quiznos has never been, “loved” inside of the industry. Actually, there are several large franchise chains that aren’t exactly loved by franchise industry types. Should I write about them? (Let me know if you’d like to read about some of the scummiest franchisors this side of the Atlantic. )
It’s too bad that word never (until recently) seems to get out about franchisors that aren’t doing a good job. Mmmmm. “Not doing a good job.” That was a little too nice. If you only knew…
Maybe I’ll share a few little known things with you in 2012.
I hope that Quiznos makes it. Let me rephrase that; I hope that the Quiznos franchisees make it. If Quiznos stellar ownership/management has to file bankruptcy, which is certainly possible, I hope that the restructuring goes well. I wouldn’t want to see thousands of franchisees lose their businesses.
Today’s lesson for would-be franchise owners;
Do Your Homework.
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"I was pretty focused on a particular franchise opportunity when I reached out to Joel Libava. In the course of a 1-hour conversation, Joel was able to ask questions and provide direct advice to help clarify the process for me and help guide me through the next steps in my vetting process. He even put me in contact with other professionals who were able to help educate me further in my particular industry. The time and money were well spent."
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