A restaurant franchise owner told me about a young restaurant owner who lost interest in his two franchise businesses.
The restaurant owner was given two franchises mainly selling takeaway pizzas and other Italian food. He did well rapidly at both locations.
Then the trouble started.
Collecting fast cars.
Racing stock cars.
He stopped going to his restaurants to check up on them. He became an absentee franchise owner.
Quickly he lost his first franchise.
But still that wasn’t enough to bring him to his senses.
Next came the loss of the second franchise.
This is where my friend the restaurant franchise owner came in. The shopping centre owner called in to say needed him to buy the second franchise and get it working again. The revenue wasn’t even covering the monthly rental.
The restaurant owner I know bought the franchise and made huge improvements to the takeaway pizza restaurant. In three months he has built the lunchtime trade by promoting the restaurant to local businesses.
He’s got the turnover up to the same level as the restaurant he previously owned in another shopping centre.
How could the first owner of the two successful franchise restaurant play so fast and loose?
Everyone is free to do what they want.
But in a recession?
When world growth has slowed to a “new normal” of about 2%.
To lose all sight of how hard it is to secure good business locations.
At a time when the biggest and best franchise outlets are specially reserved for a chosen few.
When thousands of people are denied jobs and have to come up with something of their own.
I’m not judging this business owner.
Just puzzled. Curious. Perhaps disappointed.
On the flipside, business owner I know was handed the opportunity to revive the dead business on a plate.