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.
Commercial electric vehicle startup Lordstown Motors Corp. has filed for Chapter 11 bankruptcy protection nearly two months after it warned that it was in danger of failing.
As the first half of the year comes to a close, a mixed market kicks off with the Nasdaq on pace for its best quarter in nearly four decades while the stock market looks to get its first positive session in seven tries as upbeat economic data comes in.
U.S. states could face some hurdles as they experiment with road usage charging programs aimed at one day replacing motor fuel taxes, which are generating less each year, in part due to fuel efficiency and the rise of electric cars.
