PostNet 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 PostNet for inclusion in UnhappyFranchisee.com’s list of WORST FRANCHISES IN AMERICA (by SBA loan defaults)
Are you familiar with the PostNet franchise opportunity? If so, please share your experience, opinions or insights with a comment below.
If you are an PostNet franchise representative or employee, please leave a comment or email us at UnhappyFranchisee[at]gmail.com.
PostNet franchise owners have an alarming 30% SBA default rate.
The apparent drop in PostNet franchises in recent years is also a cause for concern.
|PostNet U.S. franchises in 2008:||415|
|PostNet U.S. franchises in 2011:||314|
|Growth in franchise units 2008 – 2011 (#)||-101|
|Growth in franchise units 2008 – 2011 (%):||-24%|
|SBA loans granted since 2001:||121|
|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 PostNet 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 PostNet franchise opportunity?
What do you think accounts for the SBA loan failure rate of PostNet franchise owners?
What steps should PostNet be taking to stop further franchise failures?
Has PostNet 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 POSTNET FRANCHISE OPPORTUNITY? PLEASE SHARE A COMMENT BELOW.
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