My life as an EzyDVD Franchisee - A Riches to Rags Story - An End of an Era

Franchising July 26th, 2008

This post marks our decision to end an era. It is by no means the end of the story being told in this blog, but rather a leap forward in time to the present day. This story started on this blog of our journey as EzyDVD franchisees with court notices from a DVD wholesaler who wanted their money. The good news is that we managed to get the bank guarantees released and hence could pay the supplier. In fact the supplier even let us out of the additional charges that they were intending to levy on us.

In the mean time however time and expenses have marched on. Since we left our businesses and sold our investment property, we still have loans in the order of $600K. Interest payments on these loans are about $5,100.00 per month. This is over $61,000 per annum that we have to find, after tax, before we can even buy food. Read the rest of this entry »

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