Joel LibavaA small part of the franchise industry is mad at me.
I wrote a short article about an upcoming Ohio vote in November that would keep the interest rate cap for payday loans at a really fair 28%. Our Governor stepped in a few months back, and stopped the crazy practice of these nice franchise companies charging 391% APR on payday loans.
I am no mathematician, but I think 391% IS higher than 28%. Every day.
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Here is the article, and some rather colorful comments for your reading pleasure. Please feel free to add some more color.
Anyone need a loan???
If you do this, you won’t miss anything!
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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