If you’ve been around franchising for a while, you’ve heard about the Minnie Pearl’s Fried Chicken debacle. It goes like this: A couple of Tennessee promoters used the country singer’s name to sell fried chicken franchises in the late 1960s. They sold so many, so fast, that when they went public, the stock price soared. But the SEC launched an investigation and when Wall Street discovered that their earnings were based on uncollected franchise fees, the scheme collapsed and the chain disappeared. “All they ever cooked was their books,” journalists said at the time… read more >
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