Interesting that the 7:30 report asked for anyone with similar stories. Guaranteed that they are about to be swamped with endless stories from people who should never have been in a franchise - or any business for that matter - because they lack the understanding required to be working for themselves. I would venture that these few franchisees last night got the courage from the Royal Comm disclosures and think that maybe they will be compensated for whatever reason. A franchise is not the public service nor some socialist organisation where you are wet-nursed all the way. You have to get out and pound the pavement to drum up your next meal - not sit back and wait for the telephone to ring or for someone to walk through the door. A sixty hour week is pretty well mandatory for running your own business.
Been there in a franchise and when the economy turns down then you wear it or get out - that's life. Suck it up! Also been in another business that didn't quite lift off the ground - (my old man said at the time that your first loss is the best loss after he had a few fails before winning). Fortunately my third attempt came home. You just keep trying and trying - and learning how to do it better.
And by the way - if anyone here cares to research mortgage choice they will find that it is not merely a housing finance business. It will certainly be a much stronger business for having gone through this process and the "working" franchisees will succeed even better. It is unfortunate that it is a hard climb back to re-establish itself after being ambushed. I hold and will continue to hold.
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