Should You Buy a Franchise in 2024?

A Franchise can be an excellent investment, particularly in times of uncertainty, when you aren’t sure which way the market is headed. By investing in an established business model (which sometimes even comes with pre-existing clients) with a centralized corporate office that handles nationwide branding and gives you resources to help succeed, you can fast-track your way to your first successful business venture – or the latest in your portfolio. But as with anything, the devil is in the details, and knowing how to do your due diligence, picking the right industry, and following through can be the difference between your franchise becoming a dream come true or a real-life nightmare.

Today, we’ll be looking at a few popular franchises that are struggling, and a few others that show great promise. Along the way, we’ll be pointing out crucial steps to take as you consider whether or not buying a franchise is right for you.

Red Flag: Growth at the Expense of Franchisee Health

When considering a particular franchise, it can be a good idea to look at the growth rate of the space. Are more people needing home repairs each year or less? Are people buying fast food more than 5 years ago, or less?…

The Dow Jones continues to oscillate around 37,500, and the Nasdaq seems to be plateauing for the moment at just under 15,000, after a modest rally. The S&P 500 likewise seems to have stabilized temporarily at about 4,800 after its own modest rally. The SEC authorized spot ETFs for Bitcoin this past week, but strangely, BTC is down in the days after the announcement, giving the impression that high investor enthusiasm had already priced the decision in prior to it being made…

Entertainment and leisure continue to post huge numbers, but it’s worthwhile to put those numbers against one another to see just what stacks up as the biggest moneymaker in the space. Using the year 2022 for comparison, since that data is readily available, here’s what some top entertainment industries rake in worldwide…

In the wake of last year’s devastating layoffs in the tech sector, Elon Musk’s 80% layoff rate at Twitter (now X), and Meta facing increased pressure on billions of wasted dollars, those dreamy tech jobs seem to be getting less dreamlike – and harder to find. Apple is forcing dozens of its California employees to relocate to Texas or face termination. Google insiders complain of a changing company culture that is less fun and creative and more domineering…

Your weekly chance to test your Bible knowledge! The answer to today’s question may surprise you:

Q: Who wrote the Book of Jude?

Answer at the bottom

TIPS & TRICKS

Book Recommendation

As businesspeople, we love the hustle. If you can grind out an extra four hours a day, you’ll leave the competition in the dust! …until you collapse, and your productivity goes from 140% of the norm to 0% of the norm, because you’re going through a messy divorce, you’ve been admitted to a program for substance abuse, or you’re just so burned out that you’ve begun making terrible, job-costing decisions.

We don’t like to talk about burnout, but it is very real in our high-speed, digital world that expects high-performers to be on the clock at all hours. Not only is this a very difficult way to live, but at the end of the day, business is a marathon, and those who are able to keep producing at a high level across decades are the most successful among us…

• Trevin Wax of The Gospel Coalition provides an outline for discussing the American church’s obstacles, and what we have to do to overcome them.

• CNBC releases a list of best “rewards” credit cards for 2024.

• Relevant Magazine writes on “How to Get Your Dream Going” for Christian leaders.

• Delays and flight cancellations abound as winter storm creeps across the U.S.

• Donald Trump wins the Iowa Caucus with 51% of the vote, after spending just $18.3 million, compared to Ron DeSantis who gained 21% on a $35 million spend, and Nikki Haley who gained 19% of the vote on a $37 million spend. Vivek Ramaswamy has dropped out of the race, after getting only 7.7% of the vote in Iowa.