My wife and I joined TES some time ago while living on the East Coast. We invested over $100K and lost it all within 2 years. Never made a profit and were prevented from selling our franchise by the personal actions of Terry Powell. We have since joined with about 35 other TES consultants in a class action against TES and Terry Powell.in addition, we have filed complaints with the FTC and all 50 State Attorney Generals claiming misrepresentation, fraud, and other violations in the UFOC. The Article below discusses the Class Action taken against The Entrepreneur's Source and CEO Terry Powell. The article reveals the fraudulent earnings claims, violations, flagrant fraud and misrepresentations disclosed in the TES UFOC.
"Very interesting article in the Franchise Times.
More from Mr. & Mrs. Tes Consultant: For those of you who are still pondering joining The Entrepreneur's Source franchise here in black & white is proof of the maliciousness of the CEO Terry Powell - in a very private communication with my wife and I along with other former Franchisees who have lost hundreds of thousands of dollars. This email was in response to a current TES franchisee sending Powell a copy of the Franchise Times article dated 8/05. You can see for yourself the vindictiveness of Terry Powell against people who were duped into joining this franchise and ultimately failed and lost their businesses.
Over one third to one half of the 300 franchisees have already left TES.in addition to that, many of the client placements made by TES consultants have also failed in their franchise businesses as well. This is due to the fact that TES consultants are trained to misrepresent franchising to their clients claiming very high success and satisfaction rates which are completely unfounded and outright lies! We have the scripts from our training manuals and have turned them over to the FTC and the States Attorney Generals as prove of outright fraud perpetrated by TES and Terry Powell on consumers wishing to become self-employed. Many of the clients we unknowingly placed (as well as other TES consultant placements) with the franchises represented by TES have failed. Many of the 100 franchises that work with TES are very poor business models.
It is our hope that TES will be closed down and criminal action will be taken against Terry Powell. Last point: if you are thinking of investing in the TES franchise or working with a TES consultant to help you find a business would you want to have anything to do with someone like Terry Powell? BUYER BEWARE!
(names and specifics omitted for privacy)
From: Terry Powell
Subject: TES UPDATE FRANCHISE TIMES ARTICLE
Hi * *,
Exactly what part of the article did you find interesting? I would think as a * * you had better things to do or are you still hiding from your * * issue while you were making thousands of dollars per month in TES. Does this type of behavior make you feel better about your past actions? We are working on getting the details of your * problems so we can have an article printed in the * magazine, we also plan to add all the law suits you have had... You will enjoy the read. I am sure that more is to follow. *, by the way thanks for exposing all your Cc e-mail buddies to us, our attorneys will enjoy the read and will be adding them to our (TES, RD's and happy Zees) Class Action suit against those 32 mentioned in the article, you and all your buddies for undermining everyone's investment by all of your frivolous legal actions, slanderous and libelous communications.
WOW, 275 against 50 -, the dollar value of our claims will be in the $ Millions, I hope you and your buddies are doing well financially, as it will cost each of them tens of thousands $ each just to defend themselves from our class action, not to mention the award we will receive. Tell * and your buddies I said Hi and have a GREAT day!!!
Terry Powell, CFE
CEO & Founder
The Entrepreneur's Source
203-405-2127
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