Our recent post 15 Worst Franchises by SBA Loan Defaults listed the franchise concepts with the highest rate of SBA loan defaults for 2008.
Noble Roman’s Pizza franchise was listed as the worst. According to Katie Adams of Investopedia:
1. Noble Roman’s Pizza
Billing itself as “The Better Pizza People,” this Indianapolis-based franchiser has had a tough time selling that proposition to customers.
While the company reported a 30% net income increase in Q1 of 2009, Q2 total revenues were down more than $500,000 from the comparable period in 2008.
Maybe that’s why 53% of all owners with SBA loans defaulted in 2008.
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