Open Anonymous Forum for Unbiased Discussion About Franchises
Posted by burned by YCI on October 3, 2009 under Young Chefs Academy | 
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Does look like several have shut down recently. Can’t find out any info on why, exactly when they closed. Can’t see this franchise lasting much longer with all thses closings.
Posted by alina77vere9uk on August 14, 2008 under Cold Stone Creamery, Young Chefs Academy | Be the First to Comment
If you compare the two stories going on at the two websites below, you’ll quickly notice a rash of similarities. Just a simple question, “What is the moral of the story?” ( Obviously, the goal of that question is how do we help others avoid the same fate, though. )
Cold Stone Creamery: http://articles.moneycentral.msn.com/Investing/Extra/ColdStoneFranchiseesFeelChill.aspx
Young Chefs Academy: http://www.franchisespeak.com/young-chefs-academy-discussion
Comment has been sought from both parties, but of course who we’d really like to hear from here are franchisees. Because anonymous (and therefore we believe honest) comments from those involved would be far better for future potential victims, er.. customers. ( … lawyers would be welcome too … )
Posted by ProspectiveOwner on March 23, 2008 under Young Chefs Academy | Read the First Comment
Hi all,
I’ve read this entire blog and have some questions re: Corporate.
Many of you stated what Corporate has done well (i.e. Curriculum), however, none of you cite specific examples of what Corporate has done wrong besides communication and nepotism problems. What was actually promised for the $30k that they did not deliver? Many of you feel that you are not supported, so, in what specific ways are you not being supported by Corporate? What specific problem(s) is Corporate NOT addressing?
We are very excited about this concept, but after reading what you all have to say, we are thinking of simply going out on our own. Any advice? Thanks!
Posted by admin on February 19, 2008 under Articles, Young Chefs Academy | Be the First to Comment
How many times have you heard someone say that they had an idea a long time ago, about something that is a new successful product. How many times have you heard, “I’ve got this great idea for a business.”, but then nothing comes of it? Why?
A great idea is nothing but air, unless excellent execution and management are behind it. Exactly what this excellent article addresses…
There’s a lot of talk among entrepreneurs about the value of an idea. Many entrepreneurs believe that a brilliant idea will spawn a great company. We read about companies like eBay that took one simple idea – on-line auctions – and turned it into a powerhouse company.
Yet ideas alone aren’t worth much. Very few companies, including eBay, became successful based on just an idea. Unless your idea turns into a patent that no one can replicate, it’s worth nothing until you can add the right elements to it.
Therefore a savvy entrepreneur will quickly try to back their idea with smart management, paying customers, and strategic partners as early as possible in order to build value around their idea. All of this can be done even before the company is ever officially launched, generating a ton of value in the formative stages.
Smart Management There’s an old saying that the wrong idea with the right management team can at least have a chance of surviving, but the right idea with the wrong management team is altogether doomed.
That’s because the true value of an idea isn’t about the idea itself, it’s about the execution of that idea. There were lots of companies that easily replicated the idea of on-line auctions to compete with eBay. Do you remember them? No? Neither do I. That’s because eBay’s management team executed so much better than their competitors who had the exact same idea.
You can brag and boast about your great idea, but unless you can pull together a team that can actually pull it off, you’ve got nothing. Investors are well aware of this fact, which is why they often evaluate their investments on the merits of the management team of a new startup company more so than the business idea itself.
You can pull together a management team on paper without having to actually hire all of the members. Many startups have commitments from each key member of their management team long before the company actually launches, and most of those folks will probably be working at their old jobs for a while even after the company launches.
Article taken from Go Big Network / http://www.gobignetwork.com/
Posted by admin on February 5, 2008 under Articles, Young Chefs Academy | Be the First to Comment
With some of the comments about Young Chefs Academy on this site, a look at other franchisee problems needed at least a look. Here is one suit that happened about a year and half ago to a major franchiser. http://www.denverpost.com/business/ci_4702650
A group of Quiznos franchisees have filed a class-action lawsuit against the Denver sandwich chain in U.S. District Court for the Eastern District of Wisconsin. The lawsuit alleges that Denver-based Quiznos has “systematically defrauded its franchisees in a scheme designed to build the brand at the expense of its operators in the field.” The suit contends that the company forces franchisees to buy food and supplies from Quiznos or its affiliates at inflated prices while setting retail prices so low that franchisees can’t profit. The lawsuit also alleges that Quiznos omits or misrepresents key facts about its business operations when selling franchises.
Question?…
We can’t find an update to what has occurred since then. Any help?
