Submitted:
Saturday, July 22, 2006
Posted: Saturday, July 22, 2006
resaca,
Georgia
NuMarkets is the tradename of a business that sells franchises of ebay drop off stores. Their UFOC touts they have proprietary software which would enable the franchise to quickly list items on ebay. The profit would come from 30% of the sales price. The software and the corporate handling of all transactions would make everything a breeze.
You have to buy the name and territory. We spent in excess of $170,000 including build out and equitment.
It was a disaster from day 1, although it took about a month to realize what was happening. The software didn't work, their system didn't work. We lost $10,000 per month in operating expenses due to corporate ineptness. After 90 days we broke ties with them through our attorney.
We attempted to stay open under another name. They sued us in federal court to try and close us because of the franchise contract. We won.
We were the first to break ties with them. Since then 8 others have closed. Some lost thier live savings and home.
Sid
resaca, Georgia
U.S.A.