2 ms·
My take is that this all comes down to the stores being franchises. Yes, franchisor hold a lot of power, and in the big picture the franchisees are small owner
by TrackerFF 4mo ago
My take is that this all comes down to the stores being franchises.
Yes, franchisor hold a lot of power, and in the big picture the franchisees are small owners and a move like this ($200k of merch they haven't paid a dime for) can affect the PnL quite a lot on the local level. It seems like the average Bricks and Minifigs franchise store has annual revenue of just $600k. At that's revenue. Another search shows that their margins are around 10%-20%
If these franchise owners managed to pull of this, and sell the collection for $200k on top of the expected annual revenue, that would put their store margin for that year around 45%-55%!
I'm guessing Bricks and Minifigs, the corporation, just assumed this would fly quietly under the radar, and let their franchisees.
I think it just comes down to greed. A couple of franchisees figured they could make a killing, and become one of the most profitable franchise stores with no effort.