This year be proved to be fruitful for many industries with growth across the market. However, one industry that wasn't as successful was franchise businesses. Nick Powills, Editor in Chief of 1851franchise.com, joins Cheddar to break down 2017 and look ahead to see what is in store for franchises in 2018.
Powills explains that when the markets are doing well fewer people tend to get into franchises. This is because there is job and market stability and fewer individuals looking for alternative jobs and revenue.
For franchises, the health and wellness businesses did well this year as well as education. For next year, Powills expects the markets to continue to rise. This means franchisees need to focus on their core businesses and traffic. Powills does not anticipate a boom in individual branch growth.
Loy Gordon, owner of Neir's Tavern, joined Cheddar News to discuss how he saved the establishment three times and why he did so. Gordon also showed Cheddar News some specialty drinks that patrons can enjoy.
To celebrate Black-Owned Business Month, Cheddar News visited Neir's Tavern in Queens, one of the city's oldest taverns where the Martin Scorsese film "Goodfellas" was filmed. Loy Gordon, the bar's owner, discussed the history behind the establishment.
WeWork is warning there’s “substantial doubt” about its ability to stay in business over the next year because of its financial losses and its need for cash, among other factors.
You know ESPN the sports media giant. Now brace yourself for ESPN Bet, a rebranding of an existing sports-betting app owned by Penn Entertainment, which is paying $1.5 billion plus other considerations for exclusive rights to the ESPN name.
