Ann: Franchisee Remuneration Structure Review, page-50

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govr

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07/06/18

00:33

Post #: 33546952
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Originally posted by hammerjx ↑

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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I enjoyed your comments, but the boss or management must take responsibility and their downfall is not the remuneration agreement but the vetting process of new franchisees, and dealing with constant underachievers.
Why were these guys allowed to join, they would appear to be more comfortable in the centre link queue. In today's digital age difficult to sweep the mess under the carpet and walk away.
Anyway this new ceo , has done well today in damage control.

MOC Price at posting: $1.62 Sentiment: Hold Disclosure: Held
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Ann: Franchisee Remuneration Structure Review, page-50

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