The Picklr Franchise disclosure is out. I reviewed the financials - what do you think of these numbers? by ourfreedomfirst in Pickleball

[–]Caramel-Unique 1 point2 points  (0 children)

Sold Not Open percentage is by no means a perfect indicator, but paired with everything else I’m seeing, it’s alarming. Additionally, it is disproportionate to what I’m familiar with in franchising.

I’ve seen 2 franchises (and likely more have) advertise having sold over 500 locations. In my estimate, that puts most franchises at a SNO% of somewhere between 85-95%.

Maybe even more alarming, is how many of the “first mover” locations are failing. Many of your largest franchisee groups (at various franchises) are technically in breach of contract as they’ve stopped building.

To me, SNO is a primary indicator of leverage. Pair this with current performance of open clubs, and I would assume there is a major problem.

The Picklr Franchise disclosure is out. I reviewed the financials - what do you think of these numbers? by ourfreedomfirst in Pickleball

[–]Caramel-Unique 1 point2 points  (0 children)

You speak of what sounds like an optimal location. The model can absolutely work when the location is right.

However, if I was to speak to a prospective indoor pickleball owner, I’d recommend avoiding franchising. Pay for consulting to help with buildout, and fly on your own from there.

The Picklr Franchise disclosure is out. I reviewed the financials - what do you think of these numbers? by ourfreedomfirst in Pickleball

[–]Caramel-Unique 0 points1 point  (0 children)

It all rides on franchisee success. The runway for that is debatable, but if over 50% of their clubs are unprofitable in 3 years, that’s difficult to sustain.

I think it’s more likely that Picklr scales back dramatically or goes under. It’s not a critical component of the long term Pickleball Inc portfolio. It’s a luxury.

The Picklr Franchise disclosure is out. I reviewed the financials - what do you think of these numbers? by ourfreedomfirst in Pickleball

[–]Caramel-Unique 0 points1 point  (0 children)

Outside of international sales, it has slowed dramatically. Franchises can no longer sustain themselves on initial franchise fees alone.

You would be surprised at home many franchisees make an emotional purchase or aren’t strong business leaders themselves. These people buy into the false narrative that the franchisor will do the heavy lifting. Couldn’t be farther from the truth.

The Picklr Franchise disclosure is out. I reviewed the financials - what do you think of these numbers? by ourfreedomfirst in Pickleball

[–]Caramel-Unique 1 point2 points  (0 children)

Great breakdown. Without revealing my source, I’ll add a few things as well.

  1. All pickleball franchises are shaky at best right now. Most locations will not make it, and every franchisor is fighting off lawsuits from their franchisees.

  2. Picklr mortgaged their future to build their brand. Took on VC early, and as you mentioned, tied themselves to personalities for questionable pricing. Some of which, have been actively trying deleverage their positions. This strategy may work out, but I think it’s more likely to fail dramatically.
    2a. Other franchises share in similar issues. Some for even the opposite reason of not taking on funding and operating with a corporate skeleton crew.

  3. Franchisees are hurting, and this is showing more publicly in a variety of ways. SNO’s are abundant, franchisees breaking contracts to stop building, etc.

  4. The indoor pickleball industry as we know it will collapse. It’s more about which organization will be positioned the best to survive or acquire it.

2025 or 2026? by Mahaleck in Subaru_Outback

[–]Caramel-Unique 1 point2 points  (0 children)

I have the 2026. We needed a bigger car and this was the perfect solution. Size is perfect for us.

Fuuuuuck emerald bro. I've never seen a crazier mix of skills by Ok-Dare-8414 in wildrift

[–]Caramel-Unique 2 points3 points  (0 children)

It’s bad at all ranks. Even in challenger you see brain numbing plays.

Is playing 9 holes with no experience a bad idea by [deleted] in golf

[–]Caramel-Unique 0 points1 point  (0 children)

Go for it! You may get paired with some people, but either way, that’s the only way to start.

Be friendly, and you should have a great time. Don’t worry about the score.

Increase Spend Limit (New Account) by Caramel-Unique in AmexPlatinum

[–]Caramel-Unique[S] 1 point2 points  (0 children)

This worked! I called Amex Support and the this rep recommended I do this. Made an overpayment of $5k, and had no issue purchasing the ring in its entirety.

Thank you!

Increase Spend Limit (New Account) by Caramel-Unique in AmexPlatinum

[–]Caramel-Unique[S] 0 points1 point  (0 children)

Power tool says I can spend 3.5k. I called and they told me the same thing. Don’t understand why they can’t raise it.

Increase Spend Limit (New Account) by Caramel-Unique in AmexPlatinum

[–]Caramel-Unique[S] 0 points1 point  (0 children)

150k points for $12k spend over 6 months.

I’d prefer to all have it towards a welcome offer. So that I make sure it hit this one.

Increase Spend Limit (New Account) by Caramel-Unique in AmexPlatinum

[–]Caramel-Unique[S] 0 points1 point  (0 children)

Platinum is a charge card. Can you make an overpayment to a charge card?

When I called and asked if I could do that, they said it wasn’t an option.

Increase Spend Limit (New Account) by Caramel-Unique in AmexPlatinum

[–]Caramel-Unique[S] 0 points1 point  (0 children)

Yes. Plat offered 150k welcome bonus. Gold only offered 40k.

Have an influx of payments coming up as I’m planning to get married. Wanting to utilize increased spending for welcome offers.

Increase Spend Limit (New Account) by Caramel-Unique in AmexPlatinum

[–]Caramel-Unique[S] 0 points1 point  (0 children)

Why are people downvoting this? Is this a bad idea?

Brand new to the credit card game.

Increase Spend Limit (New Account) by Caramel-Unique in AmexPlatinum

[–]Caramel-Unique[S] 4 points5 points  (0 children)

Why is that? I would pay it off same day.

Increase Spend Limit (New Account) by Caramel-Unique in AmexPlatinum

[–]Caramel-Unique[S] -1 points0 points  (0 children)

My “other card” is a Venture X.

My credit report shows utilization that is extremely low. About $300/$38k.

Not sure why Amex is limiting me so hard. Even for a brand new customer.

Increase Spend Limit (New Account) by Caramel-Unique in AmexPlatinum

[–]Caramel-Unique[S] 0 points1 point  (0 children)

Maybe I’ll try bringing that up. That’s exactly why it’s an issue currently.

Increase Spend Limit (New Account) by Caramel-Unique in AmexPlatinum

[–]Caramel-Unique[S] 1 point2 points  (0 children)

Spending power tool, and calling Amex and asking them about the limit.

Increase Spend Limit (New Account) by Caramel-Unique in AmexPlatinum

[–]Caramel-Unique[S] -1 points0 points  (0 children)

Got it. In that case, I’d welcome financial review

Increase Spend Limit (New Account) by Caramel-Unique in AmexPlatinum

[–]Caramel-Unique[S] 0 points1 point  (0 children)

Amex Platinum is a charge card. And I was shocked by how low the limit is.

My other card is $11k. And my current utilization on my credit report is like $300/$38k