UBuildIT Rated a Worst Franchise by Forbes. Do You Agree?
The UBuildIt franchise was rated one of the worst franchise opportunities in America by Forbes magazine.
Do you agree that UBuildIt is one of the worst franchises of 2014?
Why or why not?
Please share a comment below.
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See UbuildIt’s response here: UBuildIt Responds to Forbes Worst Franchise List
(UnhappyFranchisee.Com) The June 16, 2014 issue of Forbes magazine features their picks for America’s Best And Worst Franchises.
The UBuildIt franchise made the Forbes list of the worst franchise opportunities in the 0 – $150,000 investment range.
The Forbes ranking for UBuildIt included the following assessment:
No. 4 UBuildIt
Helps you manage a remodeling job or new construction with its own team on-site.
Average Initial Investment: $100,900
Initial Training Hours: 45
Growth rate: –25%
Continuity: 23%
Franchisor Support: C
Here are the rest of Forbes worst franchises:
Forbes Worst Franchises with 0 – $150,000 Investments
(With #1 being the worst)
#1 SuperCoups
Concept: Franchisees send coupons to consumers, direct-mails ads for small businesses.
#2 Realty World
Concept: Franchisees sell residential properties and offers online tools and mortgage options to home buyers.
#3 Parable
Concept: Franchisees retail Christian-themed merchandise like books and music.
#4 UBuildIt
Concept: Franchisees help manage a remodeling job or new construction with its own team on-site.
#5 Aero Colours
Concept: Franchisees offer paint, bumper and bedliner repair for cars and trucks, with a traveling unit that makes house calls.
#6 All Tune and Lube
Concept: Franchisees provide tire, engine, transmission and general auto maintenance at its locations.
#7 Curves
Concept: Franchisees offer strength-training and weight-loss sessions for women, as well as meal plans and apparel.
#8 House Doctors
Concept: Franchisees deliver handyman services, from small-scale fixes to full-blown home remodeling.
#9 ERA Real Estate
Concept: Franchisees walk clients through buying and selling a home, finding an agent and a mortgage.
#10 Fastframe
Concept: Franchisees build custom frames and mats for photos, artwork, mirrors and flat-screen TVs.
See all Forbes Worst Franchises here:
America’s Best And Worst Franchises
ARE YOU FAMILIAR WITH THE UBuildIt FRANCHISE OPPORTUNITY? DO YOU THINK IT’S ONE OF THE WORST FRANCHISES… OR NOT? SHARE A COMMENT BELOW.
TAGS: UBuildIt, UBuildIt franchise, UBuildIt franchise complaints, Worst franchise, Forbes Worst franchises, franchise, franchising, Unhappy Franchisee
Who ever came up with these results has no clue of the construction industry I have seen this before and it looks like the companies that advertise with forbes get the good ratings. Let’s see u build it spend a $100,000 in advertising with Forbes and shoot to best franchise in America
Dusty:
You are right to be skeptical of awards and rankings from entrepreneurial ad-based magazines, but Forbes doesn’t really have much franchise advertising to speak of. Also, the data came from research company FranData.
I am a tough skeptic of this stuff, and I believe Forbes was trying to get it right. I’m not saying they did. That’s why I’d like you and others to give their opinions as to why UBuildIt is not the terrible franchise the numbers indicate it is. Or say why it IS a bad investment to be avoided.
It’s very tough to simplify so many franchises into a single list of good or bad. You are right, most of the time it’s profit-driven. In this case, those in the know have a chance to educate Forbes before the next list is decided.
Thanks for your comments.
ADMIN
Obviously we do not agree with the ranking placement UBuildIt has been assigned. No doubt, the time period associated with rankings was a tougher time for the economy in general, and most definitely affected the overall construction industry.
And yes, UBuildIt did lose some momentum during the timeframe associated with the rankings suggested, much like the majority of all business, franchising or not.
However, what we experienced during the downturn was a thriving environment with the UBuildIt construction consulting model. Our franchisees that were fully dedicated to the UBuildIt model and less on the General Contractor/traditional builder model flourished and continue to do so. Our current network of franchise owners include both those only participating in UBuildIt construction consulting along with those that use the UBuildIt model in combination with their General Contractor business.
The construction industry is a $664 Billion industry, not many can state more than that. And, it is on track to top $1 Trillion in 2015! Our marketing ballpark is HUGE! There is ALWAYS the demand for new home building, foreclosed homes are being rehabilitated, current homeowners are retrofitting their homes to accomodate their evolving needs (remodeling is an avenue pursued by many when they are somewhat hesitant to enter new construction), and the future market potential is immense.
To help you better understand UBuildIt, the home owner takes the role of the project manager. They have complete control of the project, new construction or remodel. They set their budget and make every decision, all while controlling the bottom line to maintain the budget set. Throughout the process, planning and construction, they have the UBuildIt consultant to guide them through the entire process, all while sharing both supply and subcontractor contacts (at reduced rates), along with the knowledge of fair cost. The UBuildIt consultant is an advocate to the home owner/builder. End story, home owner/builder completes the project with instant equity of 10 to 30% of the appraised value of the completed project. Fantastic savings for the home owner/builder!
The two most compelling incentives for the UBuildIt franchisee vs. the General Contractor/traditional builder is 1) in the consulting role the franchisee spends less time on the project allowing for many more projects to be completed 2) the liability of the job site, subcontractors, and home warranty is transferred to the home owner/builder.
The UBuildIt home office provides the franchisee with: one week of intense training prior to opening, bi-weekly updates sent via our NewsFlash emails (supporting all facets of the business), continual support of new and improved marketing materials which includes a plethora of marketing creatives for UBuildIt franchisees, annual training at national convention, regular sales training videos to help perfect the art of selling UBuildIt, and much more.
Kendell McGowen
UBuildIt Director of Franchise Development
http://www.ubuildit.com
We have posted Kendall McGowen’s response here:
UBuildIt Responds to Forbes Worst Franchise List
We thank UBuildIt for joining the discussion.
ADMIN