Back in Might I wrote a couple of posts on wine-related businesses for boomers. Sean Kelly over at
Franchise Pick has some more information about a wine store franchise called Cork and Olive. The Florida-based stores do wine tastings, sell wine and other related products.
The owner, one Michael Probst, shut out, laying off 40 employees and abandoning the franchisees. But, as Sean says, if the franchisees can get together and figure out a way to survive in a co-op situation, they might be better off.
I don’t know of a successful example of doing this, but the situation illustrates not only the dangers of franchising without all the information (there were clear indications in public records that Mr. Probst had some financial problems), but also that there might be ways to continue to operate a franchise on your own.
What do you think? Should the franchisees band together in a co-op and continue to operate? Or should they cut their losses and get out now?
Don’t forget the “50 things to do at 50-something” contest - comment and put yourself in the running for a $30 book gift certificate. Final comments must be posted by June 20.
Tags: baby boomers, Cork and Olive, franchises, wine businesses
Entries (RSS)