James Home Services Purchased a Master Franchise which was promised to generate $100,000 per annum income but ran at a loss for 2 years Internet

The promises made on the James Home Services Masterr Franchise website are that "if you have management/business experience , are good with people and are looking for a franchise opportunity that will create a substantial ongoing income, this will provide a solid investment with low overheads, full support, training and marketing, and a clear, proven path to considerable financial rewards and personal satisfaction."

In reality I lost more than $50,000 in 2 years on top of my initial $200,000 investment. Now I owe $250,000 to the bank and have to pay it off , of course, with interest.

The overheads weren't low - as I had to pay monthly franchise fees, call centre charges, conference fees, and I had to pay for my own advertising as the company never did anything of its own without charging additionally for this.

I was told that there would be many people who were looking to buy their own business. In reality I came across less than 10 in the two years I was stuck doing this. Meanwhile I interviewed over 300 others who were looking for a job, had no money to buy a franchise and also had no assets against which they could get a bank loan to buy a franchise.

Finally, the Franchisor's own business was obviously struggling as in the past 12 months he introduced additional charges on each Master of close to $40,000 each, all of which were outside of contractural terms,

I believe over 30 people have each paid $200,000 or more in the past 8 - 10 years to be ripped off in this way. I sincerely hope no more fall into this money pit.