July 21, 2012
The Keva Juice franchise website reads: “Sorry franchising oportunities [sic] are not available at this time.”
No need to apologize. Really.
According to data released by the Small Business Administration (SBA) indicates that Keva Juice franchise owners who qualified for SBA-backed franchise loans have an outrageously high loan failure rate of 40%.
That qualifies Keva Juice for inclusion in UnhappyFranchisee.com’s list of WORST FRANCHISES IN AMERICA (by SBA loan defaults)
Are you familiar with the Keva Juice franchise opportunity? If so, please share your experience, opinions or insights with a comment below.
If you are a Keva Juice franchise representative or employee, please leave a comment or email us at UnhappyFranchisee[at]gmail.com.
Keva Juice franchise owners have an outrageous 40% SBA default rate.
The SBA loan high failure rate of Smoothie King was a franchise red flag.
|Smoothie King Franchise|
|SBA loans granted since 2001:||62|
|SBA loan failure rate:||46%|
|Sources: Coleman report (SBA)|
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 Keva Juice 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.
Keva Juice kept selling franchises amidst high failures
In 2009, Keva Juice’s SBA loan failure rate was reported to be 26%.
According to franchisee Lisa Armand, Keva Juice continued to sell franchises. In 2009, she posted:
As a former Keva Juice owner who lost over $250,000 from the failure of 2 stores & declared bankruptcy as a result, I am pleased to see this information available to the public. Despite more than half of Keva Juice stores across the country closing, the rest floundering on the brink of closing & several families losing their life savings as a result, Keva Juice USA continues to sell this failed business model with no apologies. It’s criminal.
Are you familiar with the Keva Juice franchise opportunity?
What do you think accounts for the SBA loan failure rate of Keva Juice franchise owners?
What steps should Keva Juice be taking to stop further franchise failures?
Has Keva Juice 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 SMOOTHIE KING FRANCHISE OPPORTUNITY? ARE YOU A CURRENT OR SMOOTHIE KING FRANCHISE OWNER? PLEASE SHARE A COMMENT BELOW.
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