CURVES FOR WOMEN: Advice on Buying a Franchise Resale
February 24, 2009
The franchise information website Franchise Pick posted the question “Is Curves for Women a Good Franchise Investment?“ Most of the commenters think that it’s not, though many clubs are being sold as “resales” at fire sale prices. On comment #609, North Jersey Curves Owner responds to a possible resale buyer with this response, and due diligence advice:
I wouldn’t do it. Some canadian clubs are going through the same thing.
If you MUST attend the meeting, tell the owner you want the following:
1. Her tax returns for the last two years
2. The igo figure Projection Sheets for the last two years
3. A list of all her expenses and what the costs are
4. Her profit and loss sheet for the last two years out of her Quickbooks application or what ever application she uses to do her books.
I would not buy a Curves honestly. It was the biggest mistake of our lives. Corportae will demand their money and offer you no assistance. Why is this owner selling in the first place? Are they selling it for next to nothing? It was just reported on an AM radio station here that Curves, Subway, and Arbys have had the most closing nationwide in the United States.
If you buy the curves and then realize you are not making any money, Curves will want a $10,000 closing fee. If you dont pay it, they will put a judgement against you for all back franchise fees. the only way out of that is that bankruptcy which my husband and I are doing.
What do you think? Share a comment below.