During his time as CEO of the Treoc Group, Jose Delgado established the Club Franchises. The idea was good, but its execution was unfortunately a massive failure, for the following reasons:

1. Some of the franchisees were not successful property investors themselves, but had to give advice to potential property investors.
2. Then there were other franchisees who didn’t care much about their members. For them it was just about making money at any cost.
3. Most of the franchisees had no business experience and so they weren’t capable of running their franchise businesses successfully – especially not once the recession hit.
4. A few franchises were very well managed and worked well, but unfortunately they couldn’t survive the recession.
5. All the franchises, without exception, could not meet the marketing requirements in terms of the franchise agreement.

After Mr Delgado’s departure, Treoc entered into an agreement with Mr Desmond Seeley to solve the franchise problem. Mr Seeley submitted a full proposal to Treoc’s executive management and gave the assurance that he would achieve the proposed corrective objectives within .........................

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