Burgerim's mini burger-focused concept attracted hundreds of franchisees, but many say they're now losing money.
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Burgerim, the mini burger-focused concept that originated in Israel and was brought to the United States in 2014 by Oren Loni, sold more than 1,000 franchises within five years. Hundreds of franchisees paid the $50,000 franchise fee, built and opened stores, but didn't come close to the 23 percent operating profits Loni promised, says franchisee Robert Jameson.
Tom Meiron became Burgerim's CEO in April 2018.
Burgerim, of Encino, California, is one of the nation's fastest-growing better burger chains, with 80 units open around the country and more than 600 franchises sold since the start of 2017. How a franchise could hit those numbers with no corporate stores or national ad campaign is only part of the mystery.
Three years ago, Menchie's frozen yogurt CEO Amit Kleinberger gambled against conventional wisdom and started selling franchises for a new pizza concept before opening a single company store. He lost the bet and filed for Chapter 11 bankruptcy protection on September 21.
Subway's chief executive Suzanne Greco, sister of the late founder Fred DeLuca, was replaced yesterday by interim CEO Trevor Haynes. “Like Fre…
Suzanne Greco's retirement from Subway, announced yesterday, ends her tenure as chief executive of the world's largest restaurant company, a position she took after the death of her brother and company founder Fred DeLuca in 2015 left the company reeling.
“It is our strategic plan to improve every consumer touchpoint,” says CEO Suzanne Greco.