My wife and I spent our life savings, 2nd mortage on the house, took out huge loan, as most people have to do to purchase a franchise. We bought a Slender Lady franchise a few years ago with all the slick selling that normally accompanys the sale. We went to San Antonio for our training which was one week long. We were in a group of about 24 other business buyers which included people from all walks of life, mostly professionals. After 2 years we were bankrupt. We kept in touch with all the other classmates. All of them. (All 24) are long gone, most are bankrupt, many have lost homes and even marriages. Retirements have been lost. Cause? Lack of hard work? Lack of business smarts? Nope. Corporate never got our name recognized. Never got us national advertising like our competitor, "Curves." We were good stores, fair priced, good program, good service. Never got any support from our corporate office. There were almost 300 locations sold when we started a few years back. There are 20 or so left now. My state, which is listed ficticioulsy above used to have many stores, but now has none. Do not ever buy a franchise. We could have hung our own name on a building and would probably still be there not having to pay the huge franchise and national advertising fees. I am hoping to eventually get enough people together for a class action lawsuit against the company and it's former owner, Bruce. You know who you are.
Unlisted (not that stupid)
Unlisted
U.S.A.
0 comments