Multi-Unit Franchisee Magazine Issue I, 2012 | Page 78

FranchiseMarketUpdate
By Darrell Johnson

Adaptability: the New Keyword
Focusing in on the new realities

T

he U.S. economy is on the rise. While the world economy will be fortunate to realize a 3 percent growth
rate in 2012 (less than 2 percent and we’ll see a global
recession, something too close to call at the moment),
most of the domestic indicators are signaling a positive outlook for next year.
Yes, Europe is a mess, China is slowing down, and Japan is
close to returning to the economy of its lost decade. With most
other economies substantially smaller, there aren’t any foreign
engines of growth to get the world humming again.
Despite all that, the U.S. gives us some reasons for optimism.
We’re still in the aftermath of the decade of indulgence. The
period from 2002 to 2008 was marked with unprecedented
consumer and government spending. Consumers spent too
much using the all-too-easy credit access known as home equity, ATMs, and credit cards; and the government managed to
expand its spending across all continents and categories.
Until b