As unaccustomed as I am to public speaking…
The public gets franchising.
The comments prove it.
Please see an article on Ron Joyce of Tim Hortons called Tim Hortons billionaire Ron Joyce selling his yacht for $19.9 million:
Ron Joyce made a lot of money on coffee and doughnuts.
But he’s sailed into choppy waters when it comes to his 49-metre luxury super yacht.
The former owner of Tim Hortons has put his yacht Destination Fox Harb’r Too up for sale. And it looks like he 82-year-old billionaire is prepared to take a bit of a bath on it — at least $10 million.
The comment I chose to highlight when I entered it into WikidFranchis.org:
Wow!! 20 million – that’s a lot of donuts and coffee. Too bad Tim Horton wasn’t able to enjoy any of those spoils.
Multi-tradename franchisors often are (how should I say this) the least sensitive to franchisees’ investment concerns,
A very good article on Blue MauMau by Janet Sparks, Kahala Acquired in Auction by Serruya Family:
TORONTO – The Serruya family today announced that they have acquired a controlling interest in Kahala Corp., owner of Cold Stone Creamery and many other franchised brands. The transaction was completed on Monday.
The Serruya family brings substantial experience in franchising to Kahala. They are planning for growth of Kahala brands in both international and North American markets.
The new franchisors seem to have to prove something to knowledgeable franchisee advocates.
Former Cold Stone franchisee Cecil Rolle, who has been engaged in litigation with the franchisor said, “I’m hoping the acquisition of Kahala Corp by the Serruya Family is a watershed moment for Cold Stone Creamery franchisee profitability and the harmonization of the franchisor to franchisee relationship, which has been as contentious as they come. The Serruya Family will have to prove to me they are serious about the concerns of the franchisees and their families. Rolle has been an advocate for current franchisees, assisting them in profitability and other issues.
Some of the comments about the buyers from a related Globe and Mail article are speak to all the franchisees might be in for:
Have to agree with the general thrust of the other posts here. These scumbags are right up there with Marc Tellier re ability to engineer massive shareholder value destruction whilst at the same time garnering obscene riches for themselves.
i also got creamed owning their stock. Also, rode up the swisher stock that coolbrands turned into. That stock was jacked up to $10 now its at $1 again!! I will run away from anything that they are selling. No more stocks from them. won’t even try yogurtys since they r involved. Are they still doiong business deals with Jack Banqueseus aka Jack Banks who had four public shell stocks?
this post is all in my humble opinion
Franchisees have much, much less protection against opportunism than do owners of publicly traded stock.
Moral indignation is a technique used to endow the idiot with dignity.
The latest pathetic example is the entirely predictable Lick’s “fiasco”.
Please: give me a break. Like it hasn’t been happening for 30, 40 years with the full knowledge of the legal, banking and political communities. Take a look at WikidFranchise.org to hear those inconvenient life stories.
Sure when you lose big-time it hurts. but where were the tears for the thousands of others that went before you?
My experience is that the real reason many franchisees are upset about not being on the power end of the relationship. They got stuck with the shit end of the stick before they could stick the next guy.
And this may sound harsh, but they will double-cross anyone that offers help in good faith.
Drop the scales from your eyes and grow up.
I wouldn’t have seen it if I hadn’t believed it. Marshall McLuhan.
What franchisor sends this message to the retail market?
Is it in acting in bad faith by destroying all existing Lick’s franchisees’ equity?
- Who would buy any of these outlets?
- Lick’s franchisees left fuming as restaurant suddenly closed, Toronto Star, June 28, 2013 (on WikidFranchise.org)
- Lick’s founder denies chain in financial distress, Toronto Sun, June 27, 2013.
- Troubled burger chain Lick’s has closed seven locations in eight months, Toronto Life, June 29, 2013.
- Couple baffled over burger franchise lockout, CBC, June 18, 2013 (link to television coverage).
The franchise bar, with perfect foreknowledge, will take what is left of their money in what will be (in the end) a hopelessly futile attempt at legal justice in Ontario. Talk to your premier and your small business loan provider not your a franchise lawyer.
A Yogabellies franchisee gushes: “A yoga franchise gave me a business and the freedom to enjoy my family.”June 10, 2013
United Kingdom franchise advertisements frequently assume all their potential “partners” are morons.
But still franchise salespeople continue to churn the business renters and pap.
I never felt like I was fully committed to my job and definitely felt unbelievably guilty that I wasn’t being the parent I wanted to be. Until one day, after much soul searching, I decided there must be another way and I turned to the internet in search of something, anything, that I could do from home, working more flexibly.
A franchise as the out-of-the-blue Solution? For the seller, maybe:
It was at this point I stumbled across a franchised network called Yogabellies, which was offering teacher training in peri-natal yoga classes, baby massage and birth education.
A few phone calls later, I was satisfied that a franchise was the way to go. I was a little apprehensive about investing the required funds towards training and setting up my business. However, Yogabellies’s approach allowed me to set up affordable payment plans towards the training, as well as being able to start with one course or qualification at a time. It also allowed me to train while still working full-time, paying for my training before I left employment.
Peri-natal yoga classes as a profitable franchise concept over a 10 to 20 year timeframe?
My oh my oh my…