Veterans Deserve Success NOT Matco Tools Franchise Failure!
Our Soldiers deserve an opportunity to SUCCEED as a Franchise owner not become another VICTIM of a "Churn and Burn" Franchise SCAM.
I just signed the following petition addressed to: IFA (International Franchise Association)
Stop selling Fraudulent Franchises to our troops.
Our troops deserve an opportunity to SUCCEED as a Franchise owner not become another VICTIM of a "Churn and Burn" Franchise SCAM.
After loyally serving my country for 3 years in the United States Army, I bought into a Matco Tools Franchise. Then after 6 ½ years of hard work as well as qualifying as a top performing distributor, Matco management stole many of my established customers, committed fraud, lied and created false documents to terminate me from my Franchise.
Matco Tools rather than keeping Franchisees for the long term, has found it far more profitable to the parent company Danaher (DHR on Wall St.) to recruit Franchisees then terminate them within 2-4 years with contracts that have very unrealistic terms and conditions built into them. This is called “churning” in the legal world and Matco profits in the tens of millions of dollars churning 200-300 Franchisees per year.
In recent years Matco Tools has implemented a very aggressive campaign to recruit our young veterans returning from active duty overseas and in many cases receiving government guaranteed loans (protecting Matco’s profits) knowing full well a very high percentage of the loans will go bad. In these cases as well as distributors recruited from the private sector, upon termination for whatever reason the company see’s fit the Franchisee will suffer total financial devastation.
In all cases the company will lay blame at the feet of the franchisee yet they continue to pay out “hush” money every year to Franchisees who fight back, however most do not fight back, they just walk away broken men and broke.
Matco Vice President (Tim Gilmore), now President, created a false recruitment video, using youtube, to entice more victims through a false survey. Matco then retracted the video and edited out the survey after it was reported on a website called unhappyfranchisee.com. The video was allowed to be viewed on youtube for over a year before being corrected.
Matco continually advertises their Franchises as an employment opportunity in Outside Sales through popular websites like careerbuilder.com even though several people have contacted the FTC and complained that it is wrong to do so.
Matco is being sued for SBA Loan FRAUD in which they made FALSE statements to loan officials in order to acquire the loans which are BACKED by the American tax payer.
Yet, with all this information, Matco is STILL allowed to represent their False Opportunity in Franchising to our troops through an organization called Vetfran.
The IFA (International Franchise Association) holds no Franchisor responsible for the actions or their history as being a Franchisor that does not offer a GOOD business opportunity.
I have personally contacted my State Attorney General, Senators, State Representative as well as Vetfran Committee chairs and the IFA but no one seems to care!
If you think Matco should not be allowed to advertise directly to our troops and the IFA should hold Matco responsible as a member of their organization for Fraud, Lying and Falsely Terminating their Franchisee. Please sign this petition!
Todd A. Peterson
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