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Report: #124772

Complaint Review: Isoldit Bs Franchise Opportunity - Nationwide

  • Submitted:
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  • Reported By: Midtown New Jersey
  • Author Not Confirmed What's this?
  • Why?
  • Isoldit Bs Franchise Opportunity i-soldit.com Nationwide U.S.A.

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Well, Mr. Rick Morris, you have a great idea here, sell franchises, that cost any where from $10/15 thousand bucks, mad an additional $60-115 thousand bucks required additional costs, all of which amounts to ,,,,nothing real, and call them franchises!!! Great idea, if your Rick Morris, that is. Well I fell for it, like so many others it seems. Unfortunately I didn't come across this information until I had started the small franchise. I sent you 10 grand, added the incidentals, to open a required frontage store. Add to that an additional, $15k, for hmmmm, wait, can't seem to figure out where that money went. Your company just kept sending me invoices for additional support. Pretty vague, but I figured, this is the wve of the future, like you guys put it. Gotta love that if you buy 1 franchise, you can get additional franchises at a 33% discount, why not, maybe after you buy 3 of them, you might have 1 whole successful operation. Good marketing I figure. Well the whopping 4% service charge,,,don't spend that all in one place. Overhead,: labor, property, ,,oh and that looming loan payment for the franchise money I sent you Great, well guess what, I want out, I'm done, you will, but I want a refundThis is a BS, not what I was sold franchise..

Stanley
Midtown, New Jersey
U.S.A.

This report was posted on Ripoff Report on 12/28/2004 07:05 PM and is a permanent record located here: https://www.ripoffreport.com/reports/isoldit-bs-franchise-opportunity/nationwide/isoldit-franchise-isoldit-bs-franchise-opportunity-they-promise-the-world-and-provide-bs-d-124772. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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REBUTTALS & REPLIES:
0Author
4Consumer
0Employee/Owner

#4 Author of original report

isoldit franchise scams

AUTHOR: Albert - (U.S.A.)

POSTED: Friday, January 14, 2005

I talked with George too. He pretty much told me what you say here, and the important thing is about, and I quote" If this doesn't work out for you, we will buy out, no way to loose on this". I have lost so much money on this I hate to recount the loss. From to over priced franchise fee, to having to lease store frontage, the outdated software, to the ridiculous "training and support". Wow, sure whish I had this information before I shot my savings on this BS business. No wonder the company name is iSOLDIT, capital SOLDIT, because they sure did. So, for anyone else out there looking to supplement their income, or start a business for the main income, please don't support this scammer, Corp number, (626)584-0440

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#3 UPDATE Employee

George White - I-SOLDIT! Scammer

AUTHOR: Jerry - (U.S.A.)

POSTED: Friday, January 14, 2005

When George White spoke with me about opening an iSOLDIT location here in Tophams Ga, he assured me this location had been survayed and garenteed success and,in his words, "if something does not work out you can get a refund of all money". So what did I have to loose,,,,right? We the answer is all my money. I took out a 33k SBA loan, which the happily financed and attended all the necessary training, which I felt was outdated, as well as the printed materials. Opened the store with the required "minimun frontage" and it has been nothing but a money pit ever since. I have tried to contact George, although he won't return my call, or calls my home number during the day, so I can't get the message. I called the Corp number, (626)584-0440 and have left hundreds of messages, of which none have been returned, I called the BBB and lodged a complaint, to which they have not answered so far. My atorney is currently reviewing my contract and plans to sue their pants off, for fradulent sales practices,,,,,anyone else need help?

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#2 Consumer Suggestion

isoldit franchise scams

AUTHOR: Brianna - (U.S.A.)

POSTED: Thursday, January 13, 2005

When I looked into starting a franchise for myself, I felt I checked enough on iSOLDIT to not get screwed. I even took the time to talk with 3 other iSOLDIT storeowners. They all said things were great. So I dropped about 25k, give or take a few on opening my iSOLDIT store. Carol in franchise development helped me get the necessary frontage, and financing. I took the offered training, and paid for the Company software. So, after a year of paying commissions, dues, fees, rent, payroll licenses and everything else, I have decided to close the doors. I feel I haven't been supported or helped as promised, the software is so hard to operate, commissions are too high to make any profit. I have over the past year tried to get Corp to help answer the problems I have incurred, but no real help there, just left to sink. What do they care, they got the fees a year ago and what little commissions I hand over probably don't cover the cost of the paper and postage to takes to get it to them.

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#1 UPDATE EX-employee responds

Think Twice Before Signing Up!

AUTHOR: Jakob - (U.S.A.)

POSTED: Thursday, January 13, 2005

I was lucky that when I invested my money it was money I had to spare. I wanted to make a little business for my wife to keep herself busy with but I wanted to learn everything too. I signed off on everything and I guess I should have inspected it more thoroughly because everything was a sham. To date we haven't recouped one cent of our investment and it isn't for lack of trying. Also we've been unable to get an answer back on anything, it's almost as if they disappeared. Think twice before you try this business out. It's not enough that they get a huge initial investment but they also want you to pay that ongoing 13% royalty fee.

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