First off, I would like to say that for the most part I enjoy Quiznos food and eat there as often as once a week sometimes. However, this post is for potential franchisees considering quiznos. "The writing is on the wall" beware of opening your own quiznos.
Last winter, I went to one of their potential franchisee seminars with a client and their high energy presentation was nothing but smoke and mirrors and they used multiple high pressure selling techniques. They wanted anyone who was interested to cut the check for $25,000 that night without any real due diligence. Needless to say, I left the seminar feeling something was not right and my client ended up not purchasing a quiznos.
Well months have passed and I am now beginning to see some backlash towards quiznos. The advocacy website QuiznosSucks.com features information from disgruntled former quiznos franchise owners. One interesting fact is a quick search on BizBuySell features over 132 Quiznos franchisees trying to sell their franchise...not a good sign. There is also various information on the issue at Franchise Pundit, including an article on what a quiznos franchise makes and the cost breakdown.
The biggest part of the pitch at the seminar was how fast quiznos is growing and they would compare it to other major franchises (Subway, Dunkin Donuts, etc.). They tried to create a sense of urgency that once they sell their quota of franchises that will be it forever. Any franchise business that focuses solely on rapid expansion is going to have negative aftereffects. I believe those are beginning to show themselves now. My advice is to stay away until the smoke clears.
I actually looked into this as well and came to the exact same conclusion. I was surprised at how hard they tried to make the sell that night as opposed to being open and encouraging due diligence as some other major franchises do. What do you think of services which help pair the right franchise with the right franchisee?
Posted by: BongoBing | June 16, 2009 at 01:07 PM