Entreprenuer Expansion Corp.(EEC) is a ATM sales, placement and management company doing business in Canada and the US. They sell bank machine and site packages. They also sell franshises. I dealt directly with William Lougheed, the owner and his partner. I didn't work with a rouge franchise holder or an overzealous salesman.
I feel compelled to warn potential investors of what is the truth about EEC. I purchased quite a few machine and location packages in Canada and will probebly lose a great deal of money by doing this. I was also to be their North Carolina franchise holder.
After working with them for 11 months and being lied to, and screwed by them I don't want my name associated with them. I was in on conference calls, staff meetings and worked several Franchise shows with them. Pretty much every thing they promise at the Franchise shows are lies.
Every potential investor askes the same questions and are told the same answers. They all ask if machines placed in poorly producing locations will be moved. EEC says yes but the truth is they wont. I have one package I paid $25, 000.00 US for and it does one or two transactions per month. It will take over 100 years to get my money back no less make a profit.
I was promised the machine would be moved in August. It has not been moved. I have several other machines doing very poorly as well and EEC refuses to move them. Mr Lougheed advises it will take 2 years.
Investors also question robbery. EEC claims the machines are insured and the deductable is $500.00. It isn't. I had one destroyed and was billed $2000.00.
Potential investors are told the machines are monitored daily, they aren't. I monitor my own machines and have to ask EEC to check on machines that are down. EEC claims they keep the machines full of cash, they don't. I have had machines down for as long as 10 days while they do nothing.
EEC has also sold one of my machine and site packages without consultig with me or getting my permission. They promised to replace the site but after 6 months they refuse to either refund the purchase price or replace the site. I was told one machine was installed in September and paid for it in full. The machine hasn't been installed, they refuse to install it, and they refuse to refund the purchase price.
EEC sends out monthly reports showing what has been directly deposited in yor account. They show over $1000.00 more than what was really deposited. When questioned about where the money went I get no answers. Mr. Lougheed claims he wants to settle all problems however all settlement proposals I have made are not acceptable. His suggestion to solve the problem was for me to work harder here in NC not for him to have his company meet its obligations.
I believe EEC has an extreme cash shortage and has to sell all new sites acquired rather than meet its promise to move machines. Once you have a site you are stuck with it. I doub't if they will still be in business in two years. If you are considering doing business with them I urge you to think twice.
Don't believe anything they say. Get it in writting. Any one who has already been screwed by EEC should discreetly go to any franchise show in their area and advise potential customers as they leave EECs both of how they screwed you. Do it discretley or the show management will escort you out of the show. It won't get your money back but it will save others from their grief.
Neil
lewisville, North Carolina
U.S.A.
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