Craigâ€™s List franchise scammers whose fraudulent practices have been documented & exposed in three state investigations is exhibiting under a new name at the InternationalÂ Franchise Expo (IFE) May 30 – June 1, 2019 at the Javitz Center in New York City, NY.Â Franchisor exhibitors should expect unfair competition and lost leads to a competitor deceptively promising full financing and no franchise failures.Â Prospective franchisees should be aware that more than 90% of those who paid franchise fees never opened and 99.9% of those who opened eventually failed.
(UnhappyFranchisee.Com)Â A warning has been issued for attendees and franchisor exhibitors of the InternationalÂ Franchise Expo (IFE) being held May 30 – June 1, 2019 at the Javitz Center in New York City, NY.
According to the MFV website, the IFE is the premier annual event for the franchise industry
IFE is one of the few shows supported by the US Department of Commerce. Through international buyer outreach, the show attracts investors from nearly all 50 states and over 100 countries around the world. From domestic or international expansion to selling single units, area developments, or master franchises, IFE is the industryâ€™s one-stop shopping event.
The IFE promises franchise sellers the opportunity to â€œEngage face-to-face with qualified prospectsâ€¦ â€œ and â€œengage with current and future prospects throughout your sales funnel.â€�
One of the â€œopportunitiesâ€� being hawked at the IFE is a known Craigâ€™s List scam now being promoted as â€œDavidovich NYC Bagel & Sandwich Shopâ€� franchise opportunity.
Headed by two men named Joseph Smith and Dennis Mason, the franchise fee-collection scheme has been promoted in recent years through a number of corporate names (New York Bagel Enterprises, Inc., SMS, Inc., SMS Franchising LLC) and trade name variations (NY Bagel Cafe, NYC Bagel Cafe & Sandwich Shop, Davidovich NYC Bagel & Sandwich Shop).
NYC Davidovich Bagel Scammers: No Valid FDD, Three State Enforcement Orders & Millions in Fines & Judgements
State investigations by franchise regulators in Virginia, Maryland, Washington each determined that the sellers of what is now called NYC Davidovich Bagel & Sandwich Shop provide their victims with fraudulent franchise documents designed to hide their numerous franchise lawsuits, judgements, enforcement orders, bankruptcies, and store failures.Â All three states issued enforcement orders against Joe Smith & Dennis Mason, and the State of Virginia fined the two more than $750,000.Â The Washington Enforcement Order includes a long list of NYC Bagel lawsuits & judgements.
NYC Davidovich Bagel & Sandwich Shop Hides its 50+ Franchise Closures
NYC Davidovich Bagel scammer Joe Smith & Dennis Mason provide bogus franchise disclosure documents that claim they have suffered ZERO franchise failures and ZERO store closures.
UnhappyFranchisee.Com and NY Bagel Victims have painstakenly documented more than 50 NY Bagel Cafe and NYC Bagel & Sandwich shop franchise locations that have closed or rebranded:
The NYC Bagel Franchise Graveyard shows the storefronts of the many dead NY Bagel CafÃ© franchises, providing indisputable proof that the NY Bagel CafÃ© is an extremely high-risk venture â€“ and those risks are not disclosed as required by law:
Help Us Warn Potential Victims & Shut Down the NYC Davidovich Bagel Franchise Scam
We have been warning potential victims and urging law enforcement to act since 2013.Â Here is an index of our more than 40 blog posts:
Unfortunately, Joe smith & Dennis Mason have become more aggressive and open with their bagel franchise scam.
There are currently 200 Craigâ€™s List ads promoting their scam.
They are being promoted through the International Franchise Association and the IFE.
Their fraudulent Franchise disclosure document is posted in the Frandata SBA Franchise Registry, and they are eligible for SBA-guaranteed loans that have already resulted in a default.
Help us warn potential victims, urge law enforcement to act, and stop the NYC Davidovich Bagel & Sandwich franchise scam with a contribution here:
ARE YOU FAMILIAR WITH THE NY BAGEL, NYC BAGEL OR DAVIDIVICH BAGEL SCAM? HAVE YOU DEALT WITH DENNIS MASON OR JOE SMITH?Â Â SHARE A COMMENT BELOW.
TAGS: NY Bagel Cafe, NYC Bagel franchise, NYC Davidovich, Davidovich bakery, Davidovich Bagels, Davidovich franchise, Joe Smith, Dennis Mason, IFE, International Franchise Expo, International Franchise Association, IFA
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