The Great Frame Up franchise opportunity: Are you familiar with it?
If so, please share your experience, opinions or insights with a comment below.
The Great Frame Up is a custom picture framing franchise opportunity promoted by Franchise Concepts, Inc.
The Great Frame Up franchise marketing claims that “The Success of Our Franchisees is Our Highest Priority!”
Priority or not, since 2008, the The Great Frame Up franchise chain has shrunk in the U.S. by 45 franchises… from 159 in 2008 to 114 in 2012.
Data released by the Small Business Administration (SBA) indicates that The Great Frame Up franchise owners who qualified for SBA-backed franchise loans have an very high loan failure rate of 30%.
That earns The Great Frame Up a spot in UnhappyFranchisee.com’s list of WORST FRANCHISES IN AMERICA (by SBA loan defaults)
The Great Frame Up franchise owners have a 30% SBA loan default rate.
The apparent drop in The Great Frame Up franchises in recent years is also a franchise red flag.
|The Great Frame Up Franchise|
|The Great Frame Up U.S. franchises in 2008:||159|
|The Great Frame Up U.S. franchises in 2012:||114|
|Growth in franchise units 2008 – 2012 (#)||-45|
|Growth in franchise units 2008 – 2012 (%):||-28%|
|SBA loans granted since 2001:||31|
|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 The Great Frame Up 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 The Great Frame Up franchise opportunity?
What do you think accounts for the SBA loan failure rate of The Great Frame Up franchise owners?
What steps should The Great Frame Up and Franchise Concepts, Inc. be taking to stop further franchise failures?
Has The Great Frame Up and Franchise Concepts, Inc. 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 The Great Frame Up franchise representative or employee, please feel free to leave a comment or email us at UnhappyFranchisee[at]gmail.com.
ARE YOU FAMILIAR WITH THE THE GREAT FRAME UP FRANCHISE OPPORTUNITY? ARE YOU A CURRENT OR FORMER THE GREAT FRAME UP FRANCHISE OWNER? PLEASE SHARE A COMMENT BELOW.
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