Group 20 SuperCar Club Goes Bust....
Discussion
It has been confirmed today that Group 20 Supercar Club has gone Bust. Gary Franklin MD has told the Franchisee and Members they have lost all their money.
After visiting www.vortex20.co.uk it looks like Gary Franklin is a bit of a conman and has been messing the Franchisee's about for a while and they helped him set it up. He doesn't deserve to be in business.
After visiting www.vortex20.co.uk it looks like Gary Franklin is a bit of a conman and has been messing the Franchisee's about for a while and they helped him set it up. He doesn't deserve to be in business.
Solus said:
It has been confirmed today that Group 20 Supercar Club has gone Bust. Gary Franklin MD has told the Franchisee and Members they have lost all their money.
After visiting www.vortex20.co.uk it looks like Gary Franklin is a bit of a conman and has been messing the Franchisee's about for a while and they helped him set it up. He doesn't deserve to be in business.
I notice on that website that they are happy to sAfter visiting www.vortex20.co.uk it looks like Gary Franklin is a bit of a conman and has been messing the Franchisee's about for a while and they helped him set it up. He doesn't deserve to be in business.
g some one else off but not mention who they are.and you thought you would just sign up to tell us this???????
-Z- said:
Wasn't someone on here heavily involved in setting it up, Hopkins something?
i remember the thinly veiled advertising threads on here stating that this one couldn't go bust because it had a massive leasing company behind it?
C'est moi.i remember the thinly veiled advertising threads on here stating that this one couldn't go bust because it had a massive leasing company behind it?
I terminated my involvement with Franklin & G20 earlier this year in my position as Regional Director (North) & Franchisee after being asked to lie to prospective franchisees/members regarding the financial situation of the business. Also, I was owed many £000's off him for fees, expenses, salary etc, the result ultimately was having to instruct the court to complete a CCJ against the business. To say it was teetering on the edge of bankruptcy for many months would be an understatement. It's never really been solvent since the initial 26 franchisees invested in the business back in Dec 06.
As for Franklin himself, sadly it wouldn't be appropriate for me to post my thoughts on the man in public (primarily because an expletive strong enough for him hasn't yet been invented, but equally as it could open up all kinds of legal issues for me).
With regards to the current members with time left to go, I believe G20 are in talks with other clubs to take them on board, personally I doubt that will come off as similar talks have been held in the past when other clubs have gone pop. We'll see though.
It truly is a real shame as I still believe fundamentally the concept is a sound one. It was simply a case of mismanagement from day one. Sadly we weren't able to influence those decisions in any meaningful way & as a result, some franchisees have decided recently to pursue him personally for misrepresentation & fraud.
As to the leasing co, that's apparently still in operation and owned wholly by Franklin. It does however operate on a similar line in that essentially the Franchisees are simply cash cows.
With the benefit of hindsight personally it was a poor year last year for me financially & if I could turn back the clock, I simply wouldn't have got involved. It did however teach me a number of lessons as I suspect it has done for the others who lost an awful lot of money in the venture.
escargot said:
-Z- said:
Wasn't someone on here heavily involved in setting it up, Hopkins something?
i remember the thinly veiled advertising threads on here stating that this one couldn't go bust because it had a massive leasing company behind it?
C'est moi.i remember the thinly veiled advertising threads on here stating that this one couldn't go bust because it had a massive leasing company behind it?
I terminated my involvement with Franklin & G20 earlier this year in my position as Regional Director (North) & Franchisee after being asked to lie to prospective franchisees/members regarding the financial situation of the business. Also, I was owed many £000's off him for fees, expenses, salary etc, the result ultimately was having to instruct the court to complete a CCJ against the business. To say it was teetering on the edge of bankruptcy for many months would be an understatement. It's never really been solvent since the initial 26 franchisees invested in the business back in Dec 06.
As for Franklin himself, sadly it wouldn't be appropriate for me to post my thoughts on the man in public (primarily because an expletive strong enough for him hasn't yet been invented, but equally as it could open up all kinds of legal issues for me).
With regards to the current members with time left to go, I believe G20 are in talks with other clubs to take them on board, personally I doubt that will come off as similar talks have been held in the past when other clubs have gone pop. We'll see though.
It truly is a real shame as I still believe fundamentally the concept is a sound one. It was simply a case of mismanagement from day one. Sadly we weren't able to influence those decisions in any meaningful way & as a result, some franchisees have decided recently to pursue him personally for misrepresentation & fraud.
As to the leasing co, that's apparently still in operation and owned wholly by Franklin. It does however operate on a similar line in that essentially the Franchisees are simply cash cows.
With the benefit of hindsight personally it was a poor year last year for me financially & if I could turn back the clock, I simply wouldn't have got involved. It did however teach me a number of lessons as I suspect it has done for the others who lost an awful lot of money in the venture.
So in essence you believe the concept could be a good business if operated in a different manner?
Absolutely.
For a start, I don't believe it should be franchised. I do think the concept of the fair play policy is a good one in principle & was certainly an attractive USP for those members that did sign up.
Put it this way, if I had the capital backing either from my own funds or those of a VC, I'd definitely set one up. Fortunately having had the experience of being involved with a club that was mismanaged, I've got a fair idea of the pitfalls and the areas/decisions to avoid.
For a start, I don't believe it should be franchised. I do think the concept of the fair play policy is a good one in principle & was certainly an attractive USP for those members that did sign up.
Put it this way, if I had the capital backing either from my own funds or those of a VC, I'd definitely set one up. Fortunately having had the experience of being involved with a club that was mismanaged, I've got a fair idea of the pitfalls and the areas/decisions to avoid.
that was close, only 2 months ago i nearly joined http://www.pistonheads.com/gassing/topic.asp?h=0&a...
if not for Escargot I would have, thanks Escargot!
The same should happen to F1 Leisure for the way they go about their business.
if not for Escargot I would have, thanks Escargot!
The same should happen to F1 Leisure for the way they go about their business.
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