[Resolved] Think and Learn - Byjus classes — Cheated with 20 lakhs
Bangalore, Bangalore District, Karnataka, India
I took a franchise from Think and Learn Pvt. Ltd. ( Byju's classes) 1 year ago as I was promised that my role would be to operate the classes and all other activities - Product, Marketing, Student demos and conversion will be performed and supported by them.
We would have to take care of the local infrastructure and a little bit of local marketing.
I put my father's hard earned PF savings and mortgaged my house to pay for the hefty franchisee fee ( 20 Lacs INR).
I put my savings for setting up the office and class room rent, local pamphlets, college campaigns, demo CDs etc. Additional 8 lacs. Worked harder than they had asked us to,,, and still the results didn't show up. They didn't take any marketing initiatives to understand the market. Instead they kept on giving excuses of timing, places etc to move away from their responsibilities. In effect, they were experimenting at my expenses.
When approached for help, they are putting the blame on us. Now, consider this, The product is designed and controlled by the company, Company determines the selling price, Company gets 60% share from the revenues on the premise that company will shoulder bigger marketing responsibilities and ensure students enrolment. How on earth can the franchise be blamed for not getting the revenues?
Let us do a some math here.
Franchisee pays 20 lacs for 5 years for CAT, IITJEE, UPSC ( Only one product is reasonably deliverable and others are still being developed)
Franchisee bears the cost of office operations at least 5 lacs per annum
Franchisee bears the cost of study centre operations at least 4 lacs per annum.
In all franchisee bears 20 lacs + 9 *5 = 65 lacs over 5 years.
With the little commitment and support from the franchisor, All we get is INR (30 * 15000 * 0.40) = Rs. 1.8 lacs per year. ( 40% franchisee share)
Is this not an exploiting model?? The franchisor tricked us into believing that VSAT centers are receiving even more response than the Centers where teacher teaches While on the contrary there are other franchisees of the same company who are also making heavy losses as I am making.
Their model of business is fraud -> Over commit and Under deliver.
I seek help of this forum to expose their fraudulent ways of Byju's classes' , cheating innocent people like me and I seek help to get full compensation for their negligence and the debts I have incurred for serving their experiment interests.
Please spread this word and any help from anybody on this forum will be highly appreciated.
Complaint marked as Resolved Jul 26, 2016
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