Extra Innings franchise has been listed as one of the worst franchises in terms of default rate on SBA franchise loans.
(UnhappyFranchisee.Com) According to the Coleman Report, Extra Innings franchise owners have defaulted on 32% of the SBA-backed loans granted for Extra Innings franchises to date.
That earns Extra Innings a spot in our The Worst Franchises by SBA Loan Default Rate list.
Are you familiar with the Extra Innings franchise? Please share a comment – positive or negative – below.
When the Extra Innings baseball practice franchise closed, Frank Kosa posted his condolences on the location’s Facebook page:
“Sorry to see you closed, another victim in the long line of Extra Innings’ closures…well over 17 in the last 5 years.”
“Horrible Franchise Stay as far away as possible from this Franchise. Over 80% never make it beyond 4 years. Save your time and money and please look elsewhere for your own business.”
While Visitor’s 80% may be a bit high, Frank Kosa’s statement appears to be dead on.
Our analysis shows that out of the 52 Extra Innings franchises open between 2008 and 2013, 20 (38%) were terminated, reacquired or ceased operations “for other reasons.”
That means that franchisee investments of $158K – $557.5K each were lost, and American taxpayers helped foot the bill for the loans that were SBA-guaranteed to the bank.
| Year | Outlets at Start of the Year | Outlets Opened | Terminations | Reaquired by the Franchisor | Ceased Operations – Other Reasons | Outlets at End of Year |
| 2008 | 32 | 4 | 0 | 0 | 0 | 36 |
| 2009 | 36 | 4 | 2 | 0 | 1 | 37 |
| 2010 | 37 | 4 | 0 | 0 | 4 | 37 |
| 2011 | 37 | 5 | 0 | 1 | 5 | 36 |
| 2012 | 36 | 0 | 0 | 1 | 3 | 31 |
| 2013 | 31 | 3 | 0 | 0 | 3 | 31 |
| TOTAL | 32 | 20 | 2 | 2 | 16 | 31 |
* Source: Extra Innings Franchise Disclosure Documents 2011, 2012, 2014
The Extra Innings franchise system shows how a franchise chain can look relatively stable to an outside observer when, in fact, franchisees are investing and failing.
Extra Innings had about the same number of units in 2008 (32) as it did in 2013 (31).
However, Extra Innings simply replaced its failed franchisees each year with new franchises.
Those 20 franchisee closures could represent total lost initial investments ranging from $3,160,000 to $11,150,000 or more.
We would love to hear from Extra Innings the franchisor and its franchisees as to why they believe the baseball training franchise has such high turnover, and what they have done to try to reduce it.
ALSO READ:
FRANCHISE DISCUSSIONS by Company
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TAGS: Extra Innings, Extra Innings franchise, Extra Innings franchise opportunity, Extra Innings franchise complaints, Extra Innings closed, Extra Innings closures, Extra Innings franchise failures, SBA franchise loans, SBA franchise loan defaults, worst franchise, unhappy franchisee
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the extra innings franchise owners recently went into business against its own franchises. The opened thier own company called shop extra innings direct where they advertise to skip the retail outlets and go direct to them. We (the franchise owners) are the retail. they offer the same wholesale to thier new customers as they did with franchisees. Horrible horrible franchise!