Geof Kine and his company West Coast Business Equipment are suppliers of point-of-sale equipment to the NY Bagel Café franchise victims.
(NY Bagel Scam) West Coast Business Equipment is headquartered at 4315 East Lowell Street, Suite #C Ontario, California, and is staffed by GEOF KINE, Owner and Computer-Based POS Specialist, STEVEN LEE, Service Manager and Cash Register Specialist, NATHAN YANOFF
Computer-Based POS Specialist, and MONICA SALAZAR, Office Manager and Accounts Receivable.
Geof Kine and his company West Coast Business Equipment staff may or may not be aware that the NY Bagel franchisees who receive quotes for the electronic cash register systems and other equipment were misled by illegal and deceptive disclosure documents that do not meet the legal requirements of state or federal franchise laws.
The Commonwealth of Virginia recently fined NY Bagel, its President Joe Smith, and its sleazy salesman Dennis Mason more than $700,000 for its fraudulent sales practices.
The Maryland Attorney General has also investigated NY Bagel, smith & Mason and ruled their activities unlawful.
The vast majority of those who answer NY Bagel franchise or business opportunity ads and pay upfront fees will never get their NY Bagel Café open.
Most of those who have managed to get open have closed. While there are fewer than 10 locations open, UnhappyFranchisee.Com has identified more than 40 failed and closed locations.
Geof Kine & West Coast Business Equipment Profit from the NY Bagel Scam
Victims who opened and closed, or debranded and gone independent, claim that their opening costs were inflated by the price-gouging vendors.
Victims speculate that the prices are so high because they may contain a mark-up for a kick-back (or commission) to NY Bagel Café & Joe Smith (though this has not been proven).
One NY Bagel Scam victim compared the prices he was encouraged to pay to NY Bagel approved vendors and what he sourced locally on his own.
He estimated thar using NY Bagel’s approved vendors would add $40,000 – $70,000+ to his opening costs
That additional debt burden, he says, helps account for the extremely high failure rate of NY Bagel Café stores.
- NY Bagel’s TV monitors cost minimum NEC Model’s $799 – $1000
- Cost from Walmart 42 inches: $250
- POS System from NY Bagel $6500 plus $89/mth maintenance fee
- Cost from another vendor: $3000 and franchisee owns the pos and no monthly maintenance fees
- Overall equipment quote from NY Bagel cost $70-100,000
- Same equipment sourced independently: $40,000
- Ben the Architect cost $12,000
- A local Architect would cost me around $5000
- Equipment & Design costs from NY Bagel vendors: $89,500 – $119,500+
- Equipment & Design costs sourced independently: $48,250
Geof Kine Stops Short of Recommending the NY Bagel Franchise Scam
When approached by a prospective franchise owner about whether NY Bagel is a good company and franchise opportunity, to his credit Geof Kine stopped short of recommending the NY Bagel Café franchise.
In fact, West Coast Business Equipment seems to be an honest and aboveboard company that may have unwittingly gotten involved with the NY Bagel Scam.
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TAGS: Geof Kine, West Coast Business Equipment, Steven Lee, Nathan Yanoff, Monica Salazar, NY Bagel, NY Bagel Cafe, NY Bagel Cafe & Deli, NY Bagel Scam, NY Bagel franchise scam, NY Bagel Cafe Scam, NY Bagel Craigs List, Joe Smith, Joseph Smith, Dennis Mason, scam, fraud, NY Bagel rip-off