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.
Southwest Airlines pilots could be on the verge of a strike with a vote planned in May.
Party City filed for Chapter 11 bankruptcy as it aims to cut debt.
The federal government says it will begin a targeted crackdown on nursing homes’ abuse of antipsychotic drugs and misdiagnoses of schizophrenia in patients.
Spotify became the latest tech company to call on the European Union to take action against Apple over anti-competitive practices.
Mortgage demand continues to increase as rates dip while homebuilder sentiment is also on the rise.
Amazon has begun cutting about 18,000 workers this week, affecting largely Amazon stores and some in the technology unit.
Microsoft is laying off 10,000 employees, becoming the latest tech giant to cut its workforce.
Darren Jones, President, UPS Central Plains, joins Cheddar News to discuss UPS's first-ever jobs and opportunity report while offering advice to job-seekers amid widespread layoffs and economic uncertainty.
Clare Trapasso, the executive news editor at Realtor.com, joined Cheddar News to discuss the current housing market for first-time homebuyers.
Treasury Secretary Janet Yellen warned that the U.S. will reach its $31.4 trillion borrowing cap on Thursday.
