VetFran: Polishing a Turd

This colourful phrase was explained to me by my franchise lawyer as such:

When an attorney has a loser of a case, his job to put it’s best foot forward. Your job is to “polish a turd”.

All experienced judges, lawyers, even legal secretaries know it is a loser of a case but, hey, that’s the business side of running a law practice.

In this case, the VetFran program may be used to lure ex-military into a dead franchise industry. For the latest breathless media article see Veterans have edge in franchising effort.

While I have tremendous respect for the individuals within the military, I not believe success in the military will automatically translate into success within a dying industry. My experience and training would, in fact, predict the very opposite.

But prudence seldom gets in the way of selling franchises. Let VetFran speak for itself:

It is because the community of franchising wishes to honor those who have so bravely served our country that a special program called VetFran was created.

Okay…so this is primarily an humanitarian effort, is it?

So who are the players in this altruistic initiative?

  • 200 U.S. franchisors (discounts on franchise purchases),
  • International Franchise Association (U.S. franchise trade association),
  • U.S. Department of Veterans Affairs,
  • Veterans Corporation (?), and
  • U.S. Small Business Administration (Hurricane Katrina response).

Time will tell of course if this is just another way of Trapping the Trusting. Interim proof will be available if many deals fall apart when:

  • the ex-military spouses refuse to co-sign on any franchise debt or contract.

You’ve earned your meager pensions. Protect your own family as cope with navigating onto civvy street.

Don’t become trapped in SBA debts pedaled by an industry desperate to replace exiting sharecroppers.

One Response to VetFran: Polishing a Turd

  1. Carol Cross says:

    Thanks Les Stewart for telling it like it is. You were my first “teacher” and I am happy you are still out here trying to stop the inevitable slaughter of the innocents who are tricked into believing that they are investing in a business of “their own” when they purchase a franchise.

    The “Disorder in the House” goes on! I have tried to warn the veterans about franchising because they are the new targets of those who need to capture new shareholders to work in the fields. I have been blocked out of Blue Mau Mau and Franchise Pundit but I continue my march.

    Do you think Professor Scott Shane’s blog on Startup Business Failure Rates –The Real Numbers — will remain number one on the Google Search Engine for very long? The game of deliberately confusing the failure rates of first-owner franchisees will never be over for the powerful interests, will it?

    How can so few of us warn when so many are allied in suppressing the truth?

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: