Joel Libava
2012 is going to prove to be an interesting year for the franchise industry.
Global and national financial pressures, a Presidential election that’s going to be impacted by Washington lobbyists like never before, and $2,000 suits are the things to watch this year.
1. Pressure
In a global economy, what happens overseas doesn’t stay overseas. If our friends across the pond can’t get things together, (The EU) the US economy will take a hit. This hit could take our country back into a recession. (Which we’re barely digging out of at the time of this writing) Read this NYT article about Greece
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2. An election year
Nothing’s off the table when it’s a Presidential election year. The amount of money being thrown around by lobbying organizations, and corporations….is huge. SuperPacs, and billionaires are putting their money behind the candidates that they want to see in office. Like never before. No matter who wins this year, the franchise industry…all industries, will be impacted. How? I have no clue. Do you?
3. Suits
Banker’s suits.
US lenders had better start lending. And fast. For the most part, they have money sitting in their vaults. Lots of it! All you have to do is you look at savings account rates. For example, the .50 % interest rate that I’m currently earning on my savings account tells me one very important thing; my bank doesn’t need my money.
Actually, that half a percentage point interest payment that I’m receiving every month tells me something else;
I need to find more clients for my franchise ownership advisory services.
Here’s a tip; don’t let events in which you really have no control over scare you away from doing what you feel you must. If you feel that 2012 is the year for you to change some things about your life, just do it. Change the things that you can control.
And read my 5th annual look at the Top Franchise Trends in detail over at Small Business Trends.
About the Author
Joel Libava is The Franchise King® — an independent franchise advisor with 25+ years in the industry, two published books on franchising, and his writing has been featured in The New York Times, Forbes, CNBC, Entrepreneur® Magazine and others. In addition, he wrote exclusively for the U.S. Small Business Administration blog for eight years. He doesn't sell franchises. Instead, Joel helps you figure out if franchise ownership is actually right for you — and if it is, teaches you his powerful, proven-to-work franchise research techniques, so you can make a smart, informed decision on a franchise to own and be your own boss.
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