July 25, 2012
Minuteman Press franchise opportunity: Are you familiar with it?
If so, please share your experience, opinions or insights with a comment below.
The Minuteman Press franchise website states: “With a support system unmatched in franchising, proven marketing concepts, and state-of-the-art technology; we have been able to take quality people from all walks of life and provide them with the opportunity to help secure their financial future.”
However, data released by the Small Business Administration (SBA) indicates that Minuteman Press franchise owners who qualified for SBA-backed franchise loans have an disturbingly high loan failure rate of 28%.
That qualifies Minuteman Press for inclusion in UnhappyFranchisee.com’s list of WORST FRANCHISES IN AMERICA (by SBA loan defaults)
Minuteman Press franchise owners have an alarming 28% SBA default rate.
The apparent drop in Minuteman Press franchises in recent years is also a franchise red flag.
|Minuteman Press Franchise|
|Minuteman Press U.S. franchises in 2008:||779|
|Minuteman Press U.S. franchises in 2011:||711|
|Growth in franchise units 2008 – 2011 (#)||-68|
|Growth in franchise units 2008 – 2011 (%):||-9%|
|SBA loans granted since 2001:||254|
|SBA loan failure rate:||28%|
|Sources: Entrepreneur (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 Minuteman Press 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 Minuteman Press franchise opportunity?
What do you think accounts for the SBA loan failure rate of Minuteman Press franchise owners?
What steps should Minuteman Press be taking to stop further franchise failures?
Has Minuteman Press taken serious action to address the problems that led to these loan failures?
Please share a comment (anonymous is fine) or Contact UnhappyFranchisee.com.
If you are a Minuteman Press franchise representative or employee, feel free to leave a comment or email us at UnhappyFranchisee[at]gmail.com.
ARE YOU FAMILIAR WITH THE MINUTEMAN PRESS FRANCHISE OPPORTUNITY? ARE YOU A CURRENT OR MINUTEMAN PRESS FRANCHISE OWNER? PLEASE SHARE A COMMENT BELOW.
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