LK
Lungi K
Active since Jan 2022
3
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0
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Reviews
3 reviews9 months ago
For South Africans Considering a Postlink Franchise – Please Read Before Investing
<div>If you're considering buying a Postlink franchise in South Africa, it’s crucial to proceed with caution. Many franchisees, myself included, have faced unexpected challenges that were not fully disclosed before signing the franchise agreements. This summary is intended to inform prospective buyers of key issues that could impact your investment and help you avoid potential financial distress. According to Regulation 3 of the Consumer Protection Act (CPA), franchisors are legally required to provide a Disclosure Document at least 14 days before a franchise agreement is signed. This document must include vital business information, such as financial projections and startup/operating cost estimates. However, in my experience; and the experience of other franchisees I spoke to: this document was either not provided or lacked crucial details. This can result in franchisees entering the business without a clear understanding of the risks and financial commitments involved. Postlink suggests to prospective franchisees that their stores typically break even within six months. In practice, however, many franchisees find that actual expenses far exceed these expectations. Working capital requirements are understated, and many franchisees struggle to keep up with rent and operational costs. In my case, I had to close three stores within months due to unsustainable losses, despite following the franchisor's model and recommendations. Support from the franchisor appears to be minimal once the agreement is signed. While one would expect ongoing assistance (especially in marketing, operations, and troubleshooting). When I faced challenges, struggle or became unsustainable, the franchisor shifted the blame to me without offering meaningful solutions. And if you really cannot revive your store, they will place you in breach" which allows them to resell your store to the next unsuspecting customer. Another critical concern is the requirement to enter long-term contracts with franchisor-approved suppliers such as printing company contract that spans five years. If your franchise fails, you may still be liable for the full. If you're seriously considering this franchise or any other franchise, Insist on the legally required Disclosure Document and review it with a legal professional. Speak to current and former franchisees to hear about their real experiences. Understand all supplier and lease agreements, especially regarding your obligations if the business fails. Ensure you have sufficient working capital to sustain your business beyond six months without relying solely on rapid break-even projections. Seek advice, ask questions, and ensure you are fully informed before committing to a Postlink franchise or any similar model.</div>
0 replies
10 months ago
Investec has lost the personalised approach
I have been with Investec for just over a decade but they have lost what I understand to be a personal relationship. I never thought I would be in this platform to rate them as I have had good service since 2014. However last month, I app**** for vehicle finance and it toom them over 26 days to process the application. There is this new disregard for clients, my calls, emails and text messages were ignored rather often, leaving me to conclude I was not a valuable client any longer owing to a change in income.
112 replies
51 months ago
STAY AWAY FROM PROACTIVE TRUCKING IF YOU VALUE YOUR GOOD
Stay away from this company. I paid R25800 to move my goods (non-sharing load). Packing was horrible but I have them benefit if doubt. There is no labelling, insufficient bubble wrap and just pure chaos. Goods were delivered, broke , dirty, some items missing and law and behold - I was on a shared load. I know this because they started offloading someone else’s furnisher at my house. I was quoted R17000 for shared load and paid R25800 to make sure I am not on shared load. The service is pathetic when I reported my experience and damages yet they charged me for insurance. They will drop the phone on you and don’t care once they have your money. It’s now a month later and I have no hope that I’ll ever get help from them. STAY AWAY FROM THIS COMPANY IF YOU VALUE YOUR GOODS. They deserve a zero but I can’t find zero to score them.
53 replies
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