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.
The labor market continues to defy the Federal Reserve’s attempts at loosening it, with U.S. applications for unemployment benefits down again last week and remaining at historically low levels.
General Motors (GM) announced that it will stop production on the current sixth generation of the iconic Chevrolet Camaro. Production at the Lansing Grand River Assembly Plant in Michigan is expected to end in January 2024.
Web browser Mozilla is investing $30 million into launching a startup, called Mozilla.ai, focused on building a "trustworthy, independent, and open-source AI ecosystem."
The Federal Aviation Administration (FAA) is launching a new plan to avoid flight delays in New York City and Washington, D.C. this summer. The plan will lower requirements for airlines to obtain take off and landing rights to help avoid congestion.
Lawmakers grilled TikTok CEO Shou Zi Chew on Thursday in a high-stakes hearing on the future of the popular, Chinese-owned video sharing platform in the U.S.
Actress Lindsay Lohan appears at the Christian Siriano Fall/Winter 2023 fashion show in New York, Feb. 9, 2023. The Securities and Exchange Commission said Wednesday, March 22, that Lohan, rapper Akon and several other celebrities have agreed to pay tens of thousands of dollars to settle claims that they promoted crypto investments to their millions of social media followers without disclosing they were being paid to do so.
Cheddar News breaks down what to look for on The Day Ahead, as TikTok CEO is scheduled to testify before Congress on Thursday while earnings from General Mills and Darden Restaurants are on tap. Residential sales data for February is also scheduled to be released.
Virgin Orbit is reportedly in talks for a $200 million rescue plan and the company said in a regulatory filing that it plans to resume operations on Thursday.
