The economic crisis is everywhere; you can’t avoid the black cloud even if you wanted to. It is on the front page of every local and national paper, it is the lead story on your evening news each night and the crisis is chronicled on every major monthly periodical with lead-ins comparing today’s issues to the Great Depression of 1929.
So it would stand to reason that franchising, which is often dependant on third party financing to fund development of brick and mortar businesses would be suffering greatly. In addition, service businesses, with lower barriers to entry that saw unprecedented development during the housing boom when “Joe Six Packâ€, could easily apply and receive lines of credit on their newly found equity, should be facing tremendous difficulty as the housing bubble finally burst. But are they? Continuer reading…