One more reason Franchises are scam businesses
One more reason Franchises are scam businesses
He needs to cut his losses and get out. LPT: Never buy into a franchise business. I run a very successful handyman service for 4 years now. When I started I looked into Mr Handyman which is a franchise company. They wanted a $59,000 initial franchise fee, then a 7% royalty fee in gross monthly sales, then a 3% local marketing fee, 2% advertising fee, a computer usage fee, a 1-800 number fee and on and on. I counted 22 different fees to pay them. I took $800 and bought a basic set of tools, spent $12 a month for a website and $100 for a few road signs to get started and now I have many customers and I don’t need to share a penny with anyone. Mr Handyman even want to train you how to hire people so you can manage the business. This is idiotic because never though I do well. There isn’t and never will be enough business to hire our work and sit in an office.
My business is doing pretty well ironically. I’m a handyman specializing in fence repair. I get a lot of leads from a local fence company. Instead of tearing down a fence and installing a new one they are opting to repair the existing fence. I am a lot cheaper than brand new lol!
Also those fake Gurus are the ones making money peddling get rich quick passive income schemes to gullible fools who buy into it.
The franchisor isn’t giving them any support and they are located ina foreign country I would break every rule to get my money back what are they going to do come and arrest you?