The Pita Pit franchise has an alarmingly high SBA loan default rate of 52%.

According to the 2012 Pita Pit Franchise Disclosure Document, between the start of 2008 and the end of 2011, Pita Pit terminated approximately 53 franchises, reacquired about 24 franchises, and had 10 franchises cease operation for other reasons.

Pita Pit franchisees have been granted 49 SBA-guaranteed loans;  more than half of those loans have been defaulted on by Pita Pit franchise owners.

Are you familiar with the Pita Pit franchise opportunity? Please share a comment below.

The Pita Pit Franchise has a failure rate of 52% for SBA-backed franchise loans

Despite it’s high SBA loan default rate, Pita Pit not only continues to recruit franchise owners, it brags about its relationship with lenders:

…we do have relationships with a number of lending sources that provide SBA loans, non-SBA loans, and options that allow you to invest in a new business using IRA or 401k monies. We are an approved franchise on the SBA registry which allows a more efficient loan application process.

What Pita Pit doesn’t point out is that it’s likely that Pita Pit franchise owners who received SBA loans may have collateralized their franchise loan with their houses or other personal assets, and more than half were unable to repay those franchise loans… despite serious incentive to do so.

Are you familiar with the Pita Pit franchise opportunity?

What do you think accounts for the SBA loan failure rate of Pita Pit franchise owners?

What steps should Pita Pit be taking to stop further franchise failures?

Please share a comment, opinion or insight below.

ARE YOU A PITA PIT FRANCHISE OWNER OR FORMER PITA PIT FRANCHISEE?  ARE YOU FAMILIAR WITH THE PITA PIT FRANCHISE OPPORTUNITY?  PLEASE SHARE A COMMENT BELOW.

Contact UnhappyFranchisee.com

Tags:  Pita Pit, Pita Pit franchise, Pita Pit complaints, sub franchise, wrap franchise, sandwich franchise, franchise opportunity, restaurant franchise, food franchise, franchise failure rate, worst franchise, sba failure rates, SBA franchise loans, franchise information, unhappy franchisee,

unhappyzee

Recent Posts

Anti-Semitic Tweets of Oklahoma Statewide Charter School Board Member David Rutkauskas

David Rutkauskas was appointed to the Oklahoma Statewide Charter School Board in November, 2024.  Sean Kelly, publisher…

6 days ago

Has the DonutNV Franchise of Woodstock GA Ceased Operation?

Has DonutNV franchisee Lee Alcorn, of Woodstock, GA, ceased operation? If so, we wish Lee and…

4 weeks ago

Has DonutNV Ceased Operation in Connecticut?

Have Ridgefield, Connecticut DonutNV franchisees Michael Zeitz & Jane Zeitz ceased operations? If so, we…

4 weeks ago

Has DonutNV Franchise Owner Darlene Ortega Left the System?

Have Darlene & Luis Ortega discontinued operation of their DonutNV franchise business? If so, we’d like to…

4 weeks ago

DonutNV Franchise: Where is President Scott Gingold?

In 2024, nearly all of the DonutNV staff turned over, including its celebrated President Scott…

4 weeks ago

DonutNV:  Las Vegas School Principal Defends Deep-Fried Donut Decision

Yesterday, I posted an article about DonutNV’s aggressive selling of deep-fried donuts, sugary toppings and…

4 weeks ago