July 14, 2012
The CiCi’s Pizza franchise has a disturbingly high SBA loan default rate of 32%.
Are you familiar with the CiCi’s Pizza franchise opportunity? Please share a comment below.
According to the Small Business Administration, CiCi’s Pizza franchisees received 223 SBA-guaranteed loans since 2001; 32% of those loans have been defaulted on by CiCi’s Pizza franchise owners.
According to Entrepreneur magazine, the CiCi’s Pizza franchise chain has shrunk from 613 US franchises in 2008 to 553 CiCi’s franchises in 2012… a decline of 60 franchises, 10% of the CiCi’s Pizza chain.
The CiCi’s Pizza Franchise has a failure rate of 32% for SBA-backed franchise loans
Despite the franchise failures in the CiCi’s Pizza franchise program, CiCi’s Pizza continues to aggressively solicit franchisees on its website.
What the CiCi’s Pizza franchise marketing page doesn’t disclose is that it’s likely that CiCi’s Pizza franchise owners who received SBA loans may have collateralized their franchise loan with their houses or other personal assets, and nearly one-third were unable to repay those franchise loans… despite serious incentive to do so.
Are you familiar with the CiCi’s Pizza franchise opportunity?
What do you think accounts for the SBA loan failure rate of CiCi’s Pizza franchise owners?
What steps should CiCi’s Pizza be taking to stop further franchise failures?
Has CiCi’s Pizza taken serious action to address the problems that led to the 32% loan failures?
Please share a comment, opinion or insight below.
ARE YOU A CICI’S PIZZA FRANCHISE OWNER OR FORMER CICI’S PIZZA FRANCHISEE? ARE YOU FAMILIAR WITH THE CICI’S PIZZA FRANCHISE OPPORTUNITY? PLEASE SHARE A COMMENT BELOW.
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