July 21, 2012
Smoothie Factory franchise opportunity: Are you considering it?
The Smoothie Factory franchise website states: “Smoothie Factory provides hands on training and the materials you need to be a success in your Smoothie Factory business.”
However, data released by the Small Business Administration (SBA) indicates that Smoothie Factory franchise owners who qualified for SBA-backed franchise loans have an outrageously high loan failure rate of 33%.
That qualifies Smoothie Factory for inclusion in UnhappyFranchisee.com’s list of WORST FRANCHISES IN AMERICA (by SBA loan defaults)
Are you familiar with the Smoothie Factory franchise opportunity? If so, please share your experience, opinions or insights with a comment below.
If you are a Smoothie Factory franchise representative or employee, please leave a comment or email us at UnhappyFranchisee[at]gmail.com.
Smoothie Factory franchise owners have an alarming 60% SBA default rate.
The high default rate of Smoothie Factory franchises in recent years is a cause for concern.
|Smoothie Factory Franchise|
|SBA loans granted since 2001:||34|
|SBA loan failure rate:||60%|
|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 Smoothie Factory 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 Smoothie Factory franchise opportunity?
What do you think accounts for the SBA loan failure rate of Smoothie Factory franchise owners?
What steps should Smoothie Factory be taking to stop further franchise failures?
Has Smoothie Factory 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 FACTORY FRANCHISE OPPORTUNITY? ARE YOU A CURRENT OR FORMER SMOOTHIE FACTORY FRANCHISE OWNER? PLEASE SHARE A COMMENT BELOW.
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