Allegra Print franchise opportunity: Are you familiar with it?
If so, please share your experience, opinions or insights with a comment below.
The Allegra Print franchise website makes the unproven contention that owning a franchise greatly reduces risk of failure [we’ve added the bolding]:
“Owning a franchise offers most of the benefits of traditional business ownership with far less risk and provides additional aspects to assist with success. By buying into a franchise, you have the immediate backing of a recognized brand with a proven track record and business system. Franchise ownership provides:
“A proven idea for higher chance of success
“Reduced risk of failure compared to starting up an independent business of same type…
“Favorable view of franchising by lenders, as risk is reduced in a franchise system”
However, data released by the Small Business Administration (SBA) indicates that Allegra Print franchise owners who qualified for SBA-backed franchise loans have an disturbingly high loan failure rate of 25%.
That qualifies Allegra Print for inclusion in UnhappyFranchisee.com’s list of WORST FRANCHISES IN AMERICA (by SBA loan defaults)
Allegra Print franchise owners have an alarming 25% SBA default rate.
The apparent drop in Allegra Print franchises in recent years is also a franchise red flag.
|Allegra Print Franchise|
|Allegra Print U.S. franchises in 2008:||396|
|Allegra Print U.S. franchises in 2012:||264|
|Growth in franchise units 2008 – 2012 (#)||-132|
|Growth in franchise units 2008 – 2012 (%):||-33%|
|SBA loans granted since 2001:||28|
|SBA loan failure rate:||33%|
|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 Allegra Print 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 Allegra Print franchise opportunity?
What do you think accounts for the SBA loan failure rate of Allegra Print franchise owners?
What steps should Allegra Print be taking to stop further franchise failures?
Has Allegra Print taken serious action to address the problems that led to these loan failures?
Please share a comment (anonymous is fine) or Contact UnhappyFranchisee.com.
If you are a Allegra Print franchise representative or employee, please feel free to leave a comment or email us at UnhappyFranchisee[at]gmail.com.
ARE YOU FAMILIAR WITH THE ALLEGRA PRINT FRANCHISE OPPORTUNITY? ARE YOU A CURRENT OR FORMER ALLEGRA PRINT FRANCHISE OWNER? PLEASE SHARE A COMMENT BELOW.
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