KKR Laser Clinic buys dozens of unhappy franchisee operations
The purchase price for the clinic is believed to be less than $30 million, ranging from under $300,000 to over $1 million, depending on the size and location of the clinic. The settlement figures are far from the investments sunk into the business by some franchisees. This is a far cry from the $80 million compensation demanded by the 52 franchised clinics in March last year when they joined forces and filed a 140-page letter of dispute alleging that LCA had gouged them for equipment and supplies costs, while forcing them to take aggressive action. discounts that make it difficult for them to cover their costs and condition customers to expect discounts. ‘It was despair before losing everything’ Mediation for unhappy franchisees failed in May last year. A second mediation attempt was held earlier this year, and a settlement was agreed earlier this month. “It wasn’t an option to finish, it was despair before losing everything,” said one franchisee. “For some in the group it was a ch