July 17, 2012
The Play It Again Sports franchise has a shockingly high SBA franchise loan default rate of 27%. Play It Again Sports is listed by the SBA among the worst franchises by SBA loan default.
Are you familiar with the Play It Again Sports franchise opportunity? Please share a comment – positive or negative – below.
According to the Small Business Administration, Play It Again Sports franchisees have received 85 SBA-guaranteed loans; more than a quarter of those loans have been defaulted on by Foot Solutions franchise owners.
Play It Again Sports is owned by Winmark Corporation, the franchisor of more than 930 value-oriented retail stores operating under the names Once Upon A Child®, Plato’s Closet®, Play It Again Sports® and Music Go Round®.
Play It Again Sports has an SBA franchise loan default rate of 27%
Entrepreneur magazine reported that there were 337 Foot Solutions franchises in 2008, but that the number declined to 304 U.S. franchise locations in 2011. That’s a decline of 33 locations, or 10% of the total chain, in just three years.
Are you familiar with the Play It Again Sports franchise opportunity?
What do you think accounts for the SBA loan failure rate of Play It Again Sports franchise owners?
What steps should Play It Again Sports and Winmark Corporation be taking to stop further franchise failures?
Have Play It Again Sports and Winmark Corporation taken serious action to address the problems that led to the 27% loan failures?
Please share a comment, opinion or insight – positive or negative – below. Company rebuttals welcome.
ARE YOU A PLAY IT AGAIN SPORTS FRANCHISE OWNER OR WINMARK FRANCHISEE? ARE YOU FAMILIAR WITH PLAY IT AGAIN SPORTS FRANCHISE OPPORTUNITY? PLEASE SHARE A COMMENT BELOW.
Tags: Play It Again Sports, Winmark Corporation, Play It Again Sports franchise, Play It Again Sports franchise complaints, Winmark franchises, Play It Again Sports complaints, franchise opportunity, sporting goods franchise, retail franchise, failure rate, worst franchise, sba failure rates, SBA franchise loans, franchise information