If franchise fails to do well, and contract is still far from finishing, what should the franchisee do?
2007-01-06 14:41:38 · 8 answers · asked by Kai 1 in Business & Finance ➔ Small Business
Move to a better location, you still own the franchise.
2007-01-06 14:44:31 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The franchisee has a responsibility to train you and offer you resources so that you don't fail at the franchise. You should not be failing if they are offering you the necessary training and resources.
If you fail because you are not adhering to their business system or strict financial/accounting practices, then the failure is because of you.
If you fail because they did not offer you the necessary training, resources or support, then they are obligated to help you steer your business in the right direction and offer the training plus resources.
2007-01-06 14:46:16 · answer #2 · answered by Muga Wa Kabbz 5 · 0⤊ 0⤋
You could try to sell it on your own or enlist the help of the franchise to find you a buyer. You will probably lose a good portion of your money but like a guy above said "don't throw good money after bad"
I was in your situation and they found a buyer.
2007-01-06 17:43:39 · answer #3 · answered by hogie0101 4 · 0⤊ 0⤋
The franchisor doesn't want you to fail, so they will help you in anyway they can whether it be more advertising, more training, more whatever. In the event it still doesn't work out, most franchisors will help you sell, if not buy your franchise themselves to keep from having their name tarnished by have the doors close in your community.
2007-01-06 15:07:05 · answer #4 · answered by MistaPickles 1 · 0⤊ 0⤋
Never throw good money after bad. Take an honest look at the business today. If it will not be successful then cut your losses and walk way. Easier said then done, but it is the right call.
2007-01-06 14:44:40 · answer #5 · answered by smitha61 2 · 1⤊ 0⤋
Head for the hills dude!
2007-01-06 14:43:28 · answer #6 · answered by Anonymous · 0⤊ 0⤋
when u sell or close so does the contract is over as well.
2007-01-06 15:53:12 · answer #7 · answered by sk1295 3 · 0⤊ 0⤋
Better take out a loan, cause you are on the hook!
2007-01-06 14:43:34 · answer #8 · answered by rufus_rob 2 · 0⤊ 0⤋