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Is it fraud if the franchisor lied to the franchisee about the turnover figures
Asked by: jothie from -
I bought a business and was supplied with projected turnover figures.
During the process of getting the loan, the business was opened by the franchisor and it ran for six months. The franchisor still stated that the projected values were in accordance with the turnovers that were getting with the months they were running the business. It was only once i took over the business, did i come across financials which stated otherwise. The business closed after three months of running by me, because it was failing. I need to know what can i do to get my money back and what rights do i have.
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Answer Date: 08:35pm 08/25/08
 
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Posted 08/18/08 Closed 08/25/08
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