It was Billy Riley’s dream. The retired Michigan autoworker and his wife, Bonita, moved to Las Vegas with plans to open the valley’s first Figaro’s Pizza franchise. A year later, the once financially secure couple have lost the business, much of their retirement savings and they face foreclosure on their home. Across town in Henderson, Fox’s Pizza franchisee Brian Savinda is finally making a profit after spending most of his first two years in business struggling to pay bills.
The two operations had similar products and beginnings but very different outcomes. Business advisers say would-be entrepreneurs should take away some lessons from the tales of these two restaurants.
Savinda, already a veteran operator of two Fox stores in the Pittsburgh area, has more experience than the Rileys. The couple were first-time business owners. And experience often can be the difference between survival and failure, said Susan Kezios, president of the American Franchisee Association. The Chicago-based group lobbies for the rights of franchisees.
Las Vegas Franchisees Show Mixed Results
July 8, 2008 by Mark | 1 Comment
In Franchisees, Franchises, Restaurants, Trends
danakeith on July 8th, 2008 at 9:37 pm
being new to business world need someone to lean and guide them throughout.