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    4 Replies Latest reply on Dec 9, 2012 12:26 PM by moneytrack

    Franchising

    dianegates Wayfarer

      I purchased a franchise last month, I had no problem with having to wait 120 days to get a client but I have been reading complaints online an now I am scared that I made a terrible mistake. But because I want this so badly I wont to know how I can do a start up cleaning business. I've been doing a lot of research but I am still clueless. Any thoughts?

        • Re: Franchising
          Guide

          Hi Diane,

          Please be a little more specific so that we can help you. What kind of a franchise did you purchase? What were the negative complaints that you read? Are you having luck with procuring clients? Do you have a business plan?  What stage of that business plan are you in? At what stage do you feel that you are stuck?

           

          Melinda

            • Re: Franchising
              dianegates Wayfarer

              I bought a cleaning franchise,they first said you have to allow them 120 days to find a client, then it turned into 175 days. They don't stay in contact I'm starting to have doubts. I goggled complaints against the company and found many,,, they were sued a couple of times in other states, People stated that this was a ponzi scheme  also it was stated that they don't actually find clients at all and the ones that does find clients don;t pay you the amount that you signed on for. I haven't written a business plan because I didn't think I needed one since it was a franchise. I am a Small Business Management Major, I do now how to write one just put my faith in the franchise.Know I want to start from scratch.

                • Re: Franchising
                  dianegates Wayfarer

                  Sorry, now I want to know what steps I would have to take to start from scratch, How can I get financed and is there any safe ways to gets clients?

                    • Re: Franchising
                      Guide

                      Hi Diane,

                       

                      I am sorry to hear about your business misfortune. First things first, review your contract with the cleaning company (preferably with a lawyer - many give free consultations to see if you even have a case). The lawyer will tell you exactly what to do to recover your money (if you can).

                       

                      Second, I would report them to the BBB (if the lawyer thinks it is a scam) and see if they can help you (I myself had to do that when we got scammed for advertisement. So don't feel bad. Your not the only one.) Warning about the BBB, they may not be able to help you recover your money but they will document your complaint and add it to the rest of them. So either way, I would report them so someone else doesn't fall into the same misfortune.

                       

                      Thirdly, I would start off with a business plan with an accountant. They will be able to guide you as to exactly what you need to do. To help you out and get a head start look at these links for help Need help writing a formal business plan

                      Re: How to write a successful Business Plan

                      Re: 5 minute video - About Writing a Business Plan

                       

                      I wish you the best of luck and I hope that this information was helpful.

                       

                      Melinda

                • Re: Franchising
                  moneytrack Scout

                  I would recommend first consulting with an attorney.  Hopefully you didn't put too much money down (are at least got something for your money like equipment).  I know hindsight is 20/20 but make sure to do the research before next time you get into business.

                   

                  Franchises can be great opportunities, but I always recommend that people work in the industry (preferably for the company) before purchasing one.  Sorry I couldn't be more help.  Keep us updated on how the situation unfolds.  Best of Luck!

                  The Money Track
                  Independent Financial Advice & Personal Financial Planning