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.
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Apple announced that it's releasing an iPhone security update to prevent attackers from acquiring users' private passcodes.
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Meta says it will start testing a program that would allow posts from Threads to appear on other social media sites.
Several healthcare companies are reportedly joining President Biden's artificial intelligence risk management plan.
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The number of Americans filing for jobless benefits fell last week as the labor market continues to thrive despite high interest rates and elevated costs.
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