August 2, 2012
Back Yard Burgers franchise opportunity: Are you considering it?
You should be aware that data released by the Small Business Administration (SBA) indicates that Back Yard Burgers franchise owners who qualified for SBA-backed franchise loans have a very high loan failure rate of 43%.
That qualifies Back Yard Burgers for inclusion in UnhappyFranchisee.com’s list of WORST FRANCHISES IN AMERICA (by SBA loan defaults)
Are you familiar with the Back Yard Burgers franchise opportunity? If so, please share your experience, opinions or insights with a comment below.
If you are a Back Yard Burgers franchise representative or employee, please leave a comment or email us at UnhappyFranchisee[at]gmail.com.
Back Yard Burgers franchise owners have a 43% SBA loan default rate.
The inability to repay an SBA-backed loan (or any franchise loan, for that matter) indicates a serious situation for the franchisee.
It’s likely that Back Yard Burgers franchise owners who received SBA loans may have collateralized their franchise loan with their homes or other personal assets, and many were unable to repay those franchise loans… despite the serious incentive to do so.
Back Yard Burgers
|SBA loans granted since 2001:||38|
|SBA loan failure rate:||43%|
|Source: Coleman report (SBA)|
What do you think of the Back Yard Burgers franchise?
Are you familiar with the Back Yard Burgers franchise opportunity?
What do you think accounts for the high SBA loan failure rate of Back Yard Burgers franchise owners?
What steps should Back Yard Burgers be taking to stop further franchise failures?
Has Back Yard Burgers taken serious action to address the problems that led to these loan failures?
Please share a comment (anonymous is fine) or Contact UnhappyFranchisee.com.
ARE YOU FAMILIAR WITH THE BACK YARD BURGERS FRANCHISE OPPORTUNITY? ARE YOU A CURRENT OR FORMER BACK YARD BURGERS FRANCHISE OWNER? PLEASE SHARE A COMMENT BELOW.
Back Yard Burgers, Back Yard Burgers franchise, Back Yard Burgers franchise complaints, Back Yard Burgers complaints, hamburger franchise, burger franchise, fast food franchise, quickservice franchise, franchise failure rates, SBA franchise loans, worst franchises, unhappy franchisee