With just a single day remaining in 2023, we stand on the brink of a new year.
As we prepare to step into 2024, it's an opportune moment to reflect on the year that was. Join us as we revisit the most impactful stories of 2023, highlighted in the Franchise Herald's best list.
10. Fast Foods on Thanksgiving Day 2023: Discover Which Restaurants Are Serving
As Thanksgiving 2023 approaches, a variety of fast-food chains and restaurants, including McDonald's, Starbucks, Dunkin' Donuts, Cracker Barrel, Burger King, Boston Market, Applebee's, Waffle House, Popeyes, and Buffalo Wild Wings, are preparing to serve customers with special hours and menus.
These establishments offer everything from quick coffee and fast-food options to traditional sit-down meals and take-out feasts. Customers can enjoy convenience and variety, whether they seek a simple breakfast, a festive burger, or a full Thanksgiving dinner.
9. US Companies Respond to Economic Pressures: Removing Bachelor's Degree from Job Criteria in 2024
In 2024, nearly half of U.S. companies are set to remove bachelor's degree requirements for various job roles, building on a 2023 trend where 55% of businesses did so for entry and mid-level positions. This move aims to create diverse teams and acknowledges skill acquisition beyond formal education.
The decision reflects the rising cost and accessibility challenges of higher education, especially for underrepresented and low-income groups. Employers are valuing experience over degrees, appreciating alternative education, and increasingly offering educational benefits and student loan repayments.
8. Amazon and Starbucks Worker Unions Are in Limbo: Unions Face Challenges in Securing Contracts
In 2023, Amazon and Starbucks worker unions face challenges securing contracts despite significant unionization efforts. Amazon's first worker union and 380 Starbucks stores have unionized but haven't finalized contracts.
Contrastingly, established unions in various fields, including UPS drivers, airline pilots, and auto workers, have achieved substantial pay raises. Newer unions struggle with initiating contract talks and negotiating favorable terms, highlighting the difficulties emerging labor movements face against large corporations like Amazon and Starbucks.
7. Shaquille O'Neal Earns More Millions From His Franchises Than His Basketball Career
Shaquille O'Neal, a basketball icon, has built a $400 million fortune, surpassing his NBA earnings, through savvy investments in the food franchise industry. His portfolio includes 17 Auntie Anne's Pretzels, nine Papa John's, a Krispy Kreme, and a Big Chicken restaurant.
Inspired by Magic Johnson, O'Neal has transformed from an NBA star to a business magnate, focusing on franchising as a strategy for long-term wealth-building and financial stability beyond his basketball career.
6. Ghosting from Employers: A Rising Concern in the UK Job Market
A Greenhouse study reveals 57% of UK job seekers have been "ghosted" by employers after interviews, with those from underrepresented backgrounds 20% more likely to experience this. Job priorities shift towards higher pay, flexible work, and career growth opportunities.
The survey also highlights discrimination, with women and minorities facing unfair interview questions. Companies are encouraged to foster inclusive cultures and invest in employee development to reduce turnover and enhance job satisfaction.
5. Minneapolis Steps Up: Four Small Businesses Receive Millions of Dollars Grants
Minneapolis is supporting small businesses with grants from the Ownership and Opportunity Fund. Mayor Jacob Frey and city leaders awarded significant financial aid to four local businesses, highlighting the city's dedication to nurturing a robust business community.
The initiative focuses on aiding entrepreneurs in economically challenged areas, with the fund helping 22 businesses in three years. This move, part of broader community engagement efforts, encourages local shopping and property development, strengthening the city's economic and social fabric.
4. In-N-Out Burger's Idaho Opening Day: Record-Breaking 8-Hour Waits
In-N-Out Burger's first Idaho store opened to record-breaking eight-hour waits, with fans camping overnight in cold weather to be among the first to try the famous burgers. The drive-thru line, starting in a nearby lot, had thousands waiting patiently.
The Meridian location is just the start, with plans for more outlets in Boise and Nampa. The Ada County Highway District was prepared for the heavy traffic, with In-N-Out employing 80 staff and offering competitive wages at this new venue.
3. McDonald's New CosMc's Restaurant: A Phenomenal Hit with Hours-Long Lines Already
McDonald's new beverage-focused, drive-thru-only concept, CosMc's, opened in Bolingbrook to huge excitement, with lines forming from 3:30 a.m. and 150 cars by noon. Despite long waits, customers remained eager to try the unique menu, offering specialty teas, lemonades, slushes, frappes, and inventive coffee varieties.
CosMc's efficient service includes four order lanes and a pickup window, with mobile ordering soon. Plans are underway to open more CosMc outlets in Texas by 2024.
2. Macy's Faces Major Decision with $5.8 Billion Buyout Offer
Macy's, facing challenging times, has received a $5.8 billion buyout offer from Arkhouse Management and Brigade Capital Management. The offer values Macy's at about $21 per share. This proposal is under Macy's board review, led by retail experts like former Home Depot CEO Frank Blake.
With substantial real estate assets, Macy's, including the Herald Square location, is exploring unlocking this value. The decision could redefine Macy's future, potentially enhancing shareholder value and attracting investors.
1. Apple Achieves Historic $3 Trillion Market Cap, Setting New Industry Benchmark
Apple has achieved a historic $3 trillion market cap, marking a significant milestone in the industry. The company's shares rose to $193.42, reflecting a 48% increase this year despite declining sales and challenges in key markets like China.
Apple will release the Vision Pro mixed-reality headset in 2024, entering a new product category. This growth and innovation underscore Apple's status as a resilient and valuable publicly traded company in the U.S.
