ED Magedson – Founder
Home Video Studio Franchise Corporation8148 Raven Rock Drive Indianapolis, Indiana USA
Home Video Studio Franchise Corporation Home Video Studio My Home Video Studio Hanley made misrepresentations regarding the business potential and profitability of a Home Video franchise. Indianapolis Indiana
Hanley makes his money selling Franchises to trusting individuals who are disgruntled with by presenting himself as in his own sob story words:
By the way, the feature film was valued at approx. $150,000 and never got released.
Budget: $150,000 (estimated) See more » Company Credits Production Co: New Era Pictures International See more » Show detailed company contact information on IMDbPro » Technical Specs Runtime: 89 min Color: Color Aspect Ratio: 1.33 : 1
One of the misrepresentations made by Hanley was that Home Video was licensed to sell and promote franchises in Canada when, in fact, Home Video studio had none. He had sold franchises in parts of eastern Canada that failed even in large poulation centres. Ours was a population draw of 40,000. [continued below]....
Hanley made misrepresentations regarding the business potential and profitability of a Home Video franchise. He stated $100,000 net no problem.
Hanley used manipulative tackics like frequent calls to you pushing with a sense of urgency if you did not join it would be a big mistake on your part. Offered a discount of $5000.00 less than USA franchisors to get us and one other Canadian franchsors to bite. Those in the USA are locked in to a 10 year Franchise agreement whether they are lucky enough to survive. Most of his so-called successful franchisors in big cities joined him when Home Video Studio was nothing more than a "business opportunity ." He stopped peddling over priced equipement to his franchisors because of the following:
While we were in negotiation with him in 2009 he was desparate for money and pushing to sell his franchises as he was been successful sued by an Indiana law firm on behalf of a Maryland Franchsor:
From PDF File from dockets.justia.com
"On June 11, 2008, Plaintiff negotiated and signed a Franchise Agreement with Hanley. (Id. ¶ 12). The Franchise Agreement required Plaintiff to pay $148,505 for, inter alia, home video equipment that was to be delivered by September 2008. (Id.). Hanley provided a portion of the home video equipment to Plaintiff, but failed to deliver the remaining essential home video equipment as promised. (Id. ¶ 15). In addition, Hanley represented that the equipment was worth $75,000, but Plaintiff later learned that the equipment was actually worth $40,000. (Id. ¶¶ 2, 12). Hanley later agreed to refund all amounts paid by Plaintiff. (Id. ¶ 17)".
What Hanley will NOT PROVIDE in his Franchise Disclosure Documents by U.S Franchise Federal Laws
• A detailed list of current and projected units in the system, broken down by all 50 states
• Names and contact information of former and current franchisees in the franchise system (great for speaking with those who know the system best, marketing to franchisees, or conducting research surveys)
• Historical franchise financial performance figures (critical for building financial models and business plans)
• Earnings claims tables (for franchisors supplying Item 19s)
• Franchise litigation and bankruptcy history of his Franchise
• FDD Items 3-4 provide information on past bankruptcy filings as well as past and/ or current litigation that the franchise may be involved in.
• FDD Item 19 (when applicable) provides a summary of store-level (unit-level) financial performance•
FDD Item 20 provides listings of (and contact information for) existing and former franchisees in the system – an invaluable tool for research and due diligence.
• FDD Item 21 reveals the franchisor’s financials, including audited balance sheets and income statements for the 3 previous fiscal years.
Interested in a Franchise from someone like this individual?
If so, I have some nice swamp land here in Canada for sale that would be ideal for YOU!
This report was posted on Ripoff Report on 06/26/2014 03:09 PM and is a permanent record located here: http://www.ripoffreport.com/r/Home-Video-Studio-Franchise-Corporation/Indianapolis-Indiana-46256-/Home-Video-Studio-Franchise-Corporation-Home-Video-Studio-My-Home-Video-Studio-Hanley-mad-1157771. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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