Joel Libava
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
Important! Read About All of This Franchise’s Headaches
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.
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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.
About the Author
Joel Libava is The Franchise King® — an independent franchise advisor with 25+ years in the industry, two published books on franchising, and his writing has been featured in The New York Times, Forbes, CNBC, Entrepreneur® Magazine and others. In addition, he wrote exclusively for the U.S. Small Business Administration blog for eight years. He doesn't sell franchises. Instead, Joel helps you figure out if franchise ownership is actually right for you — and if it is, teaches you his powerful, proven-to-work franchise research techniques, so you can make a smart, informed decision on a franchise to own and be your own boss.
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