Kristina Gedutis, who co-owned the Thayer Street franchise with her husband, Craig, for five years, said the store’s sales were down 30 percent from 2008.
Though the location’s rent remained the same, dwindling revenues made it difficult for the owners to make payments, she said…
“When we first opened, business was great — we definitely had our following,” she said.
“There wasn’t another Cold Stone in Providence, so we got most of the area’s business.” Gedutis said when the downtown Cold Stone opened, she saw revenue drop.
“I am bitter toward that,” she said. “It wasn’t really fair.”
The new competing location Gedutis blames for her store’s failure was the result of a new co-branding partnership between Cold Stone & Tim Horton’s, a Canadian-based restaurant chain.
Gedutis claims that “the opening of a joint Tim Hortons-Cold Stone location on Dorrance Street downtown negatively affected her Thayer Street parlor’s business.”
WHAT DO YOU THINK? SHARE A COMMENT BELOW.
Photo: A closed Cold Stone Creamery franchise location, Lancaster, PA (FranBest Photo library)
Tamara Bean, a successful & respected franchise owner of 17 years, claims she can no…
Franchises are sold to those seeking freedom & autonomy. Too often, they find themselves imprisoned…
The stress and strain of a failed or failing franchise is more than financial. We receive so…
FETCH! Pet Care franchise owner claims “Phoenix Franchise Brands is breaching the contracts of franchisees…
Phoenix Franchise Brands was founded and is run by Greg Longe and his wife Maria…
FETCH! Pet Care Franchise targets both pet lovers & passive investors. Its franchisor is multi-brand…
View Comments
What were the terms of her contract with respect to geographical placement? My understanding is that this is a common stipulation in franchising.