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.
Amazon is being sued by U.S. regulators and and 17 states over allegations that the company abuses its position in the marketplace to inflate prices on other platforms, overcharge sellers and stifle competition.
President Joe Biden grabbed a bullhorn on the picket line Tuesday and urged striking auto workers to “stick with it” in an unparalleled show of support for organized labor by a modern president.
The confidence of American consumers slipped this month, particularly about the future, as expectations persist that interest rates will remain elevated for an extended period.
JPMorgan Chase agreed Tuesday to pay $75 million to the U.S. Virgin Islands to settle claims that the bank enabled the sex trafficking acts committed by financier Jeffrey Epstein.
