Franchise News
While inflation of some industries remains high, overall inflation compared to last year is just 2.4%, meaning many consumers likely have additional discretionary funds to spend at small businesses.
A recent report shows inflation cooled in September. Though the decrease was not as dramatic as some predicted — or hoped for — it still demonstrates significant decreases over the past couple of years.
According to a U.S. Bureau of Labor report released on October 10, inflation was up 2.4% compared to the same time last year, the smallest increase since February 2021.
For entrepreneurs, cooling inflation can be a good sign. Though prices are still up over last year, a steady decrease will put consumers in a better position to spend discretionary funds more freely.
According to CNBC, “food away from home” is up 3.9%, senior home care is up nearly 9%, and pet services are up 7.3%. Individual category growth may seem suboptimal for some industries, with some consumers possibly being priced out. However, with overall inflation stabilizing, it appears the franchise industry will be in a good position for growth entering 2025.
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