July 21, 2012
Maui Wowi Hawaiian Coffees and Smoothies franchise opportunity: Are you considering it?
The Maui Wowi franchise website states: “From freedom of choice, to Aloha service, to awesome value, Maui Wowi Hawaiian hits the notes that are important to entrepreneurs seeking to gain control over their life [sic]. Maui Wowi Hawaiian gives you the freedom to have the business lifestyle you want to live and improve the quality of your life.”
However, data released by the Small Business Administration (SBA) indicates that Maui Wowi franchise owners who qualified for SBA-backed franchise loans have an shockingly high loan failure rate of 49%.
That qualifies Maui Wowi for inclusion in UnhappyFranchisee.com’s list of WORST FRANCHISES IN AMERICA (by SBA loan defaults)
Are you familiar with the Maui Wowi franchise opportunity? If so, please share your experience, opinions or insights with a comment below.
If you are a Maui Wowi franchise representative or employee, please leave a comment or email us at UnhappyFranchisee[at]gmail.com.
Maui Wowi franchise owners have an alarming 49% SBA default rate.
The apparent drop in Maui Wowi franchises in recent years is also a franchise red flag.
|Maui Wowi Franchise|
|Maui Wowi U.S. franchises in 2008:||328|
|Maui Wowi U.S. franchises in 2011:||231|
|Growth in franchise units 2008 – 2011 (#)||-97|
|Growth in franchise units 2008 – 2011 (%):||-30%|
|SBA loans granted since 2001:||51|
|SBA loan failure rate:||49%|
|Sources: Entrepreneur (growth), company website (growth), 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 Maui Wowi 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.
Are you familiar with the Maui Wowi franchise opportunity?
What do you think accounts for the SBA loan failure rate of Maui Wowi franchise owners?
What steps should Maui Wowi be taking to stop further franchise failures?
Has Maui Wowi and founder Michael Haith 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 MAUI WOWI FRANCHISE OPPORTUNITY? ARE YOU A CURRENT OR MAUI WOWI FRANCHISE OWNER? PLEASE SHARE A COMMENT BELOW.
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