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Quiznos Franchisees Hope for Debt Deal
| Guest post by: Sarah Snyder |
Article Overview: Quiznos franchisees now await decisions to be made about the company's $870 million dollar debt.
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Free Download - Quiznos and Loyalty Clubs By Sarah Snyder |
Quiznos Franchisees Hope for Debt Deal
The Wall Street Journal reported in December that Quiznos franchisees were eager to hear about their franchisor's future. The sub and sandwich franchise is reported to be in serious financial woe, owning more than $850 million dollars in debt. But the Avenue Capital Group is poised to decrease that tremendous amount by about a quarter. If the deal is approved by creditors, the Avenue Capital Group will own a 70% stake in the company. If the creditors do not approve, however, it seems that Quiznos is facing bankruptcy.
The franchisees' outlook is not so bleak, however. Spokesperson for the Quiznos' Independent Franchisee Association, Keith Rentschler, said in a statement that he is "excited to see the potential of this process moving forward." That is, he's excited to see the company under new ownership. Expanding the brand and improving the business model is something that franchisees are "keen to begin work" on, according to Nation's Restaurant News.
So what does this mean for franchisees looking to buy a Quiznos franchise? It might actually be a great time. The revamp of any company, a chance to be heard in your franchisee association and potentially help with a new business model and brand "packaging" could be exciting for entrepreneurs. Since Quiznos has a great reputation with customers (because of its franchisees), it's still a safe bet to open one.
Quiznos also has one of the fastest available options for opening your restaurant in as little as three months. Many other places can take anywhere from six months to a year. The Quiznos team helps you with everything from scouting a location for your shop to training your employees. If you're looking to get into this lucrative business opportunity now, while the company is rebuilding the brand to be even better, you can check out Franchise Clique. Their team will help you get started and get you all the available information about Quiznos franchising.
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Article Tags: food and restaurant franchises, Quiznos, restaurant franchises, sub and sandwich franchises
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About the Author: Sarah Snyder RSS for Sarah's articles - Visit Sarah's website Click here to visit Sarah's website   Senior Care Franchises are a Safe Bet Top Reasons for Buying a Franchise Tips for Buying a Franchise Three FastestGrowing Franchise Industries Right Now Quiznos Hires New Board Members |
Related Forum Posts
Re: Dominos vs Subway
- The Dominos message is cloudy. As posted, their image is for Pizza, not subs. Is it just pizza ingredients on a bun? Are they baking the subs and delivering them, or do they bring them so that the buyer can put them in the oven? (Presume the former, but still, the message is not clear.) "Preferred 2 to 1," by whom, and under what cicumstances? Does waiting for delivery factor into the preference? I am not sure that Dominos can greatly impact the leader.
Subway has hurt Quiznos franchisees with the $5 promotion, because Quiznos has higher ingredient costs. Quiznos really didn't have a response. I noticed a "lower prices" banner at a Quiznos I visited yesterday, but that is a long way from $5 for foot longs.
Re: When Franchisees Get Mad
- [quote="RussellWebb":kfjnri12]"The original action filed in New Jersey claimed Quiznos collected approximately $75 million in franchise fees while providing nothing in return for the 3,000-plus franchisees.[/quote:kfjnri12]
Hi RussellWebb,
What was Quiznos supposed to provide for their 3000 plus franchises? And would you happen to know when the issue will be resolved?
Who inspired you to start?
- When I was a teenager I read "The Art of the Deal" by Donald Trump while on a road trip to New York City. It helped inspire me to want to start my own business and is also one of the reasons why I have created so many famous entrepreneur profiles. I believe that by modeling the success of other entrepreneurs you too can become successful.
Who was it that inspired you to start your business?
Names our important
- [quote:1sb3nkhz]There troubles began with an aggressive growth strategy spearheaded by the father and son team that bought Quiznos back in 1991, Rick and Dick Shaden - aka 'The Shady's'.
[/quote:1sb3nkhz]
People with names ripe for those kinds of nicknames really should stay on the straight and narrow! Or change their names!
Trump and Stewart
- I really enjoyed Trump: The Art of the Deal and The Martha Rules. I think the best advice you can get is from people who have made it and not just consultants who haven't been there. Evan's site is great because of all the famous entrepreneurs and their advice directly from them.
Donald Trump and Martha Stewart are 2 great examples of successful entrepreneurs and the books are written in their own words which I find extremely valuable and motivational.
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