July 20, 2012
PostalAnnex+ franchise opportunity: Are you considering it?
Be aware that data released by the Small Business Administration (SBA) indicates that PostNet franchise owners who qualified for SBA-backed franchise loans have a high loan failure rate of 30%.
That qualifies PostalAnnex+ for inclusion in UnhappyFranchisee.com’s list of WORST FRANCHISES IN AMERICA (by SBA loan defaults)
PostalAnnex+ is one of five brands franchised by Annex Brands, Inc. The others are: AIM Mail Center, Navis Pack & Ship, Handle With Care Packaging Store and Sunshine Pack & Ship.
Are you familiar with the PostalAnnex+ franchise opportunity? If so, please share your experience, opinions or insights with a comment below.
If you are an PostalAnnex+ franchise representative or employee, please leave a comment or email us at UnhappyFranchisee[at]gmail.com.
PostalAnnex+ franchise owners have an alarming 30% SBA default rate.
The apparent drop in PostalAnnex+ franchises in recent years is also a cause for concern.
|PostalAnnex+ U.S. franchises in 2008:||333|
|PostalAnnex+ U.S. franchises in 2012:||294|
|Growth in franchise units 2008 – 2011 (#)||-99|
|Growth in franchise units 2008 – 2011 (%):||-12|
|SBA loans granted since 2001:||38|
|SBA loan failure rate:||30%|
|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 PostalAnnex+ 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 PostalAnnex+ franchise opportunity?
What do you think accounts for the SBA loan failure rate of PostalAnnex+ franchise owners?
What steps should PostalAnnex+ be taking to stop further franchise failures?
Has PostalAnnex+ 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 POSTALANNEX+ FRANCHISE OPPORTUNITY? ARE YOU A CURRENT OR FORMER POSTAL ANNEX+ FRANCHISE OWNER? PLEASE SHARE A COMMENT BELOW.
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