I want to confirm what the other individuals said about the signworld business opportunity.
I reccomend that people avoid it and avoid dealing with Frannet.
I opened a business in NJ and personnaly know that myself and approximately 7-8 other Signworld businesses in NJ closed up at a loss.
The business is commodity type business and most of the buyers focus mostly on lowest cost.
I asked a lot of questions about the significant competition and was told not to worry as their sales training would make us expert salesmen. The sales training was ok if you were experienced and was geared towards a consultative type of selling reather than a commodity tye as in NJ.
I also wanted to get a list of all the other sign world companies and select some myself. Reputable franchises issue a Franchise document by law with all the owners. Ken Kindt told me he only gives out selected business names who have approved that he give out their names.By the way, I approved that he give out my name and he never did. Nor would he give out the financials.
When researching I was told gross profits were in the 70% area. I used this as a paremeter in my businees planning assumptions. I found out gross profits in the industry were less than 40% as recorded in sign magazines. I even had a survey done by a local university who confirmed it was basically a commodity business and not a value added business.
When I tried to sell the business, Ken Kindt was no help, even though he was sellling additional businesses in NJ. He referred me to the FranNet salesman who sold me the business. All he did was put it on a list and gave no help.
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