such a sad ending, these PB dancers/teachers are the GREATEST IN THE WORLD. the teachers who got caught in the this PB web are working 16 hours a day to make this work. but it just can NOT happen. PLANET BALLROOM BUSINESS MODEL IS A FRAUD, sorry folks.
no business can operate at these nose bleed levels of FEES, impossible. PLANET BALLROOM FEES are approaching 30%, just impossible.
PLANET BALLROOM HAS many, many non- disclosure agreements to HIDE the TRUTH from all you poor dancers! PLANET BALLROOMS BUSINESS MODEL IS BROKE, always has been, thats why close to ten (10) franchises/owners have went BANKRUPT. IF WE HIDE THESE TEN BANKRUPTED STUDIO'S, WE CAN SELL MORE LIES!!! PLANET BALLROOM out of Matthews, NC is exactly what the FTC and the FBI is WARNING US ABOUT!
Franchise fraud in U.S.
The FBI website states:
"pyramid schemes -- also referred to as franchise fraud or chain referral schemes -- are marketing and investment frauds in which an individual is offered a distributorship or franchise to market a particular product.
The real profit is earned, not by the sale of the product, but by the sale of new distributorship's. Emphasis on selling franchises rather than the product eventually leads to a point where the supply of potential investors is exhausted and the pyramid collapses." Means of committing franchise fraud-are there yet tom, my ROI=ZERO???
Franchisors that practice franchise fraud will attempt to pressure a franchisee leaving the franchise system to sign a non-disclosure agreement, confidentiality agreement or a gag order. The gag order allows franchise misrepresentation by preventing prospective new franchisees learning important details about the churning franchise. Unfortunately, the Federal Trade Commission Rule and the State Franchise Disclosure Documents that govern the sale of franchises appear to enable franchisors to withhold negative facts concerning the performance of the franchised business plan from new buyers of franchises and to disclaim that the franchisors have promised anything in the way of success and profits in the written disclosure document and the binding, and generally non-negotiated, franchise agreement. The sellers of franchised business plans, the franchisors, themselves, appear to have no obligation under current rules and regulations to disclose negative system UNIT performance statistics to new buyers of the franchised business plans who then unknowingly purchase franchises that have demonstrated low or no profitability and high failure rates of "founding" franchisees.
im lucky, i only lost $200,000 on PLANET BALLROOM! some have lost half a million to this fraud. i hope my review saves everybody else a WHOLE bunch of headaches from the DEVIL HIMSELF.
PLANET BALLROOMS WHO FILE BANKRUPTCY or are about to, AFTER FEES APPROACH 30%- 12% of gross, $800 a month for award winning call center(ONLY AWARD ITS EVER WON WAS MOST CALLS EVER SENT TO AN ANSWERING MACHINE IN ONE DAY), $800 technology center(for what???), $1,000 each for stupid looking clown, i mean dance, uniforms, $5 for each and every phone call you get for new students, from advertising your business. $500 to attend once a year meeting, where you are served day old subs from local grocery, what a deal!!! $2500 fine if you miss any scheduled dance event. $1,000 to change a phone number on YOUR OWN website,WOW!!! a planet ballroom franchise is very similar to owning a boat, EVERYDAY, B.O.A.T=BREAK OUT ANOTHER THOUSAND
PLANET BALLROOM BANKRUPTCIES
KATY TEXAS--BANKRUPT
LAKE WYLIE, SC-BANKRUPT
LAKE NORMAN, NC-BANKRUPT
CARY, NC-BANKRUPT
CHARLESTON, SC-BANKRUPT
BUCKHEAD, GA-BANKRUPT
JOHNS CREEK, GA-BANKRUPT
BOCA RATON, FL-BANKRUPT
BALLANTYNE, NC-BANKRUPT
many, many more coming!!!! read more