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For a fairly modest sum, franchisees are able to become instant business owners. They get the benefit of name recognition, proven products, and detailed instructions for getting their stores off the ground. However, purchasing a franchise is not always a one-way ticket to success.
Although many have gone on to build thriving enterprises, some franchisees have ended up with nothing but a failed business and an abundance of debt. Some of them are blaming their woes on franchisors who acted in bad faith, including among others such well-known chains as the Coffee Beanery and the popular sandwich shop Quiznos. Examples of reported fraudulent practices by some franchisors include: misrepresentation of earnings, understatement of costs of ownership, forcing franchisees to purchase goods from specific vendors, and more.
Are You a Victim of Franchise Fraud?
If you are a franchise owner and feel you incurred severe financial loss as a result of unfair practices by your franchisor, you may be entitled to recover some or all of your losses. Fill out the form on this page or call Sokolove Law today at 877-490-6522 for a free case evaluation.