The “Our Restaurants” section of the passport restaurants inc. website states:
“New York NY Fresh Deli As one of America’s fastest growing franchised quick-casual sandwich restaurants, New York NY Fresh Deli was included in Entrepreneur Magazine’s May 2006 list of Top 50 New Franchises. Currently, there are 29 franchised restaurants operating in 14 states.”
However, our recent post 15 Worst Franchises by SBA Loan Defaults listed the franchise concepts with the highest rate of SBA loan defaults for 2008.
The New York NY Fresh Deli franchise was listed as the 5th worst. According to Katie Adams of Investopedia:
5. New York NY Fresh Deli
Perhaps it was the low single-site franchise fee ($17,500) that attracted new business owners, but it was low revenues that led to closed doors.
Thirty-one per cent defaulted on SBA loans in ‘08
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