Hello! My husband and I own a Dominos Pizza Franchise in Holland Michigan and after 8 years of blood sweat and tears, we must shut the doors. This is due mainly to Domino’s poor marketing decisions and the refusal of Domino’s to compete with Little Cesars Hot and Ready. In order to increase sales we would need to do more agressive marketing which, we can’t afford to do. Our sales have gone down about 35% since last year. Anyway, we were thinking we wanted to try to sell all of the equipment. We are not sure the best way to do this. Do we sell as a package or piece by piece? Dominos has been no help in finding a buyer for the franchise and corporate won’t purchase because it is not close enough to the headquarters. Because you must be a manager of a dominos pizza for 1 year before franchising, we have about 1/2 % of the population to offer the franchise to. What is the best way to go about this? Please help!
Check your franchise agreement to see if you can just shut down and sell off the equipment. You may still be liable for the royalties for the remainder of your contract no matter what you do. I was part of a chain a while ago and one owner unbranded his store and sold it, he was quickly sued for the lost royalty revenue for the remainder of the contract. He lost and had to pay years of royalties out of his pocket. A Dominos close to my house has employees out at the street advertising hot and ready pizza every day at drive home time, and if memory serves me correctly they are even cheaper than Little Cesars. I hope you find a way out, or can get things making money again soon.
How close are you to closing? How much time do you think you have? -J_r0kk
Sorry, last post was me. I was asking because I wanted to know if there was time enough for you to save it or if it’s too late. -J_r0kk
I am also in the Grand Rapids area, if there is anything I can do. I do know people looking for equipment as well as stores. I don’t think they ever ran a Doiminoes, but there might be other avenues.
Why wouldn’t Dominoes have in there arsenal some sort of extra boost for franchisees that running into problems. I know that if I were them, I would want to keep my franchisees happy because when they make money, I would make money.
Of course, that’s in my world. In the corporate world, they don’t always seem to care.
If there anything I can do to help, let me know. Check the mini website for the phone number and ask for Jim.
Have you tried to hire a franchise sales group? There are plenty around…I would rather TRY to sell the entire franchise and recoup some costs rather than sell the equipment at salvage prices.
JMHO
If your looking to sell your equipment please send me a email I am close to your store and would be interested in buying.