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Forum nameFinancial Feast
Topic subjectRE: in debt up to my eye balls!
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322, RE: in debt up to my eye balls!
Posted by pscowner, Thu Jul-12-07 12:59 AM
Thanks for your input!
My franchise kinda did the same thing a few months ago. They were going to buy it from me, dirt cheap I might add, but I wouldnt get any of the money until they sold it. But then they turned around and said since you only have 4 years with a 5 year option after that it wouldnt be sellable. So they didnt help me there. And they had the nerve to say if I sold it to someone else who wanted to make it a different type of store I would have to pay $30k. They havent brought 1 prospective buyer in for me. They said they would "try". And they want me to talk good about the franchise to other prospective buyers for other locations, I dont think so! They have screwed me from day 1. They gave me "projected" numbers for my SBA loan that were so far off.. If I had anything close to reality I'm POSITIVE I would have never been approved for the loan.
Your right, the only person that wins in a franchise is the franchisor!