Categories
NEWS

Is a Franchise a Better Investment Than College?

(FranBest.Com)

According to a (tongue-in-cheek?) post over on Franchise Pick, going to college is just a waste of time and every college student and graduate knows it. Would students be better investing in a franchise than higher education? You be the judge:

Here’s an excerpt:

Wise Up! Skip College. Buy a Franchise!

by Sean Kelly

I don’t want to imply that college is a waste of time, money and brain cells, so I’ll state it:

College is a waste of time, money and brain cells.

I know. I went to college (7 of the best years of my life).

When I graduated with my English degree, the business world threw a HUGE welcome party for me and rewarded my educational accomplishments with a lucrative position in Combustible Timber Logistics (or firewood delivery, for you non-grads). Pursuing my dream of complete unemployability, I returned for my Masters degree, and even stayed on to teach for a few years. Eventually, they forcibly ejected me through the ivy-covered doors to accept the fate of all college grads: a job completely unrelated to my field of study in a company whose owner dropped out halfway through 7th grade.

But don’t college graduates have much higher incomes than non-graduates?
Sure. Just ask the clerk at That Fish Place next time you’re buying goldfish for your pet piranha. He’ll tell you how he thanks his lucky stars every day for his PhD in Marine Biology.

Or ask those unfortunates who have had to struggle through life without college degrees. Poor Bill Gates ($56 bil), Paul Allen ($18 bil), Michael Dell ($15 bil) & Larry Ellison ($21 billion)… think of what they could have achieved had they finished college! Such a waste! It’s reported that billionaire John Simplot (3 bil), inventor of the French Fry, felt inferior around the liberal arts graduates who manned his deep fryers or who so articulately asked the customers “Would you like fries with that?”

College Diplomas: Worst. Investment. Ever.
According to The College Board’s annual report, “Trends in College Pricing”, the total college costs…

Continue Reading Wise Up! Skip College. Buy a Franchise!.

Categories
New Franchises NEWS

TopNewFranchises.Com Seeks Nominations for Best New Franchise

Do you know of a franchise opportunity* worthy of being recognized as one of the Top New Franchises?

TopNewFranchises.Com wants your nominations.

To vote for your favorite new franchise opportunity, CLICK HERE.
It doesn’t matter if you’re a franchisee, employee, customer, vendor, or casual observer, your opinion counts. Just post the franchise name and why you think it’s a Top New Franchise. Multiple nominations are OK and results will be tallied and posted. Nominate your own company if you want… just tell why it’s a great opportunity.

Top New Franchises is on a search for the REAL top new franchises. Tell us what you think!
* Franchising since 2000 or later. If you know of a great franchise opportunity that’s been around longer, nominate it at Best Undiscovered Franchises.

Categories
FRANCHISE WATCH MISCELLANEOUS

Java Jo’z Snowden Is Granted Second Motion to Continue Sentencing

FranBest FRANCHISE WATCH has been keeping tabs on the story of Java Jo’z franchisor Roy Snowden, who has been convicted of Tax Evasion & Fraud charges.  Numerous Java Jo’z franchisees have allegedly been unable to recover deposits of $20K & $30K made to Java Jo’z.  This is an excerpt from Janet Spark’s post on Blue MauMau:

First Motion to Refinance Home Denied

In an Order from the U.S. District Court, Northern District of Florida, Pensacola Division, Senior U.S. District Judge granted the Second Motion to Continue Sentencing in United States of America v. Roy P. Snowden. The motion, filed January 16, had requested that the sentencing scheduled for January 23, be continued due to a family medical crisis of Snowden’s counsel, preventing him to attend the sentencing.

Snowden’s first Motion to Continue Sentencing, filed January 10, had been denied by the court.  The motion was mainly on the grounds that Snowden had been in the process of refinancing his residential home, which had been approved in the amount of $1.4 million, which was less than 70% of the appraised value. 

The motion states that the defendant is in the process of seeking additional lenders that would loan up to approximately $1.7 or $1.8 million in the refinance. The refinance would eliminate a first and second mortgage and it states, “. . . it should leave sufficient funds to eliminate all of the back taxes, interest, and penalties.” The $1.4 million would eliminate the two mortgages and the balance of approximately $850,000 to $900,000 would be left to be payable to the I.R.S. against the taxes, penalties, and interest.

READ THE WHOLE POST HERE

Categories
FRANCHISE WATCH

Franchisors Extend Goodwill Offers to Java Jo’z Victims

The widespread coverage throughout the blogosphere regarding the franchise owners who lost the downpayments they made for Java Jo’z coffee franchises has caught the attention of some sympathetic franchisors. These franchisors have made the goodwill gesture to waive upfront fees or extend deep discounts to the approximately 10 individuals who were seeking to open franchises in their home towns.

Franchise owners must, of course, meet all franchisor requirements to join the system, but if they could be eligible to receive waived fees and significant discounts to help offset the money they lost. Franchisors are invited to contact seankelly@ideafarm.net if they wish to extend an offer.

According to FranBest.Com’s Sean Kelly: “This is a great opportunity for franchisors to step forward and show that franchising is not all about money. The best franchises are about creating win-win situations, and working together as a team toward a common goal. When they achieve that, the money follows.”

The first franchisor to extend an offer is Mark Deloury, Founder of Parrot Pizza, who offered to waive the $25,000 franchise fee for anyone who lost $20,000 or more to Java Jo’z.

Parrot Pizza: Will waive $25,000 franchise fee

Bad Ass Coffee Co.: Discount & Special Terms

In appreciation of their generous offers, FranBest.Com will provide a year of free franchise advertising on the FranBest.Com network to any franchise company that provides the fee waivers and/or discount to the victims of Java Jo’z.

For background information on the Java Jo’z & Cuppy’s coffee controversy, click here:

Franchise Pick Overview of Java Jo’z/ Cuppy’s Controversy

Java Jo’z, Emerald Coast Mfgr., Roy Snowden

Cuppy’s/Java Jo’z discussion on BlueMauMau.Com

Categories
FRANCHISE WATCH

Cuppy’s & Java Jo’z: A Cautionary Tale

Here is a quick (and carefully worded) recap:  A number of individuals claim that they paid refundable fees of $20K & $30K to a company (Java Jo’z) contingent upon finding a location.  They can’t find locations & ask for their money back.  They are told that the assets of the company the individuals paid have been sold to another company (Cuppy’s), and their money is gone.  Sorry.  The individuals are confused because the new company looks like the same people sitting in the same desks in the same office as the old company, but now their logoed shirts say “Cuppy’s” instead of “Java Jo’z.”  The new, improved company hires high-powered lawyers to patiently and emphatically explain to these people that the new shirts mean they should go away quietly and leave them alone.

What are the lessons here for prospective franchisees?  Don’t ever put money down on a franchise, even if refundable?  Insist on an escrow account?  What are the lessons would-be franchise buyers can take away from this unfortunate situation?

What are the lessons here for franchisors?  Can you really transfer assets without the bad will and unresolved complaints coming along?  Is it cheaper in the long run to make amends and show good faith, or to use legal and PR efforts to silence the debate?  Has blogging made tactics of the past obsolete?

What positive lessons can we learn from this debacle?

Related Posts:  Why Java Jo’z problems are Cuppy’s problems

Â