> Dozens of franchisees lost their life savings. Others reportedly filed for bankruptcy. The company’s new CEO, Michel Buchbut, admitted mistakes but defended the company to Restaurant Business, saying, “I cannot call it a Ponzi … It was not exactly a Ponzi.”
Not exactly, huh? I’m going to be very interested to read the report when the FTC completes their investigation (assuming they follow Senator Feinstein’s request)
The headline makes me think of "Snow Crash", where the franchise-ization of... well, just about everything in America was pervasive and tragicomic.
About to say that. The book more and more looks like a prophecy
Australia is the largest buyers of franchises per capita in the world. All of the systems are broken even McDonalds and KFC. Buying a franchise for $1 million only to work 60-70 hours a week and earn less than your 15 yr old workers.
Why was my remark flagged? It only says that Burgerim in Los Angeles tastes good, which is true. And the family which owns this is also very nice people.