I was so surprised to read this article this morning. Apart from the fact that they make really delicious pies (almost like Nana used to make) it always sad to see a business go under.
Franchising is difficult and it is so important to set them up correctly in the first place, and if you are a franchisee, read all the fine print. Below is an overview of what happenened.
http://www.smartcompany.com.au/finance/44731-pie-face-plunges-into-administration.html?utm_source=SmartCompany&utm_campaign=5283790da4-Monday_24_November_201424_11_2014&utm_medium=email&utm_term=0_234118efee-5283790da4-93594842
Franchising is difficult and it is so important to set them up correctly in the first place, and if you are a franchisee, read all the fine print. Below is an overview of what happenened.
The collapse comes after Pie Face quietly closed six of its seven stores in New York City last month. While Pie Face has previously attempted to expand into India and New Zealand without much obvious traction, the chain is also believed to have agreements to enter South Korea and the Philippines.
The chain also became embroiled in a legal battle with a former franchisee earlier this year.
Former franchisee Prit Dutta sued Pie Face for $800,000 in February, alleging the pie chain was misleading and deceptive when communicating the expected returns for its franchise stores.
http://www.smartcompany.com.au/finance/44731-pie-face-plunges-into-administration.html?utm_source=SmartCompany&utm_campaign=5283790da4-Monday_24_November_201424_11_2014&utm_medium=email&utm_term=0_234118efee-5283790da4-93594842