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What did they do that was so bad that it cost him 3 locations?
by bongodongobob 2y ago
What did they do that was so bad that it cost him 3 locations?
- portn0y 2y agoProbably load up on financing to expand. Expansion floundered and they had to unload unprofitable and profitable locations to cover the debt.
- itsoktocry 2y agoWhy didn't he have the ability to foresee the idea was bad?
- Invictus0 2y agoportnoy is not the op
- Drunkfoowl 2y agoUsually its an over leverage issue. He extends credit to the very limit and then something goes wonky, maybe a few things at once and the core business takes a hit. Also, the more reach the less control (by design/definition) and QC is always a risk in that scenario.
- computerdork 2y agoAm also wondering if part of the problem might have been timing. Did have 5 locations during the pandemic?
- computerdork 2y ago... although, having said that, the financing thing that another commentor mentioned I've read is often a problem of over expansion.
- blitzar 2y ago> What did they do that was so bad that it cost him 3 locations? Skilfully timed when growing and succeeding. Unlucky timing when failing.