Building a franchise from the ground up is a lifelong dream for many people. This process could result in an incredible amount of financial freedom, but entrepreneurs should spend some time researching all the pros and cons of investing in a franchise. Buying into a franchise in North Carolina could be quite lucrative as long as the investor understands all of the potential risks.
The sheer size of commercial trucks traveling the highways of North Carolina increases their destructiveness in a crash. People in passenger vehicles bear the brunt of impacts with big rigs. In accidents that involve a commercial truck and a passenger vehicle, the victims in the passenger vehicles represent up to 97 percent of fatalities. Survivors often must contend with disability, disfigurement, brain injury and post-traumatic stress disorder.
Some North Carolina entrepreneurs may want to consider purchasing an existing business. This can be an ideal option for people who don't have a good idea for a new business or simply don't want to create a business from scratch. However, there are certain factors they should carefully consider before purchasing an existing business.
According to the latest data from the Federal Motor Carrier Safety Administration, the number of deadly crashes involving at least one truck has gone up each year from 2015 to 2017. In each of those years, large-truck-occupant fatalities rose as well. Though the FMCSA does not state that truckers are to blame for this trend, the data suggests that people who drive trucks in North Carolina and across the nation can do a few things to combat the problem.
The 2019-2020 Most Wanted List of Transportation Safety Improvements released by the National Transportation Safety Board is composed of a total of 10 items, six of which concern the trucking industry. Truckers in North Carolina will want to know what the NTSB is recommending in its effort to improve traffic safety.
As small business owners get closer to retirement, they may want to sell their businesses to other parties. However, not every company available in North Carolina will find a buyer. Of course, there is a chance that a company could be acquired even if no one wants to buy it outright. For instance, a competitor may want to merge with a company or acquire a portion of it.
Entrepreneurs in North Carolina who are considering purchasing a business may want to consider buying a franchise. However, they must do their due diligence and thoroughly research certain sources before deciding to make a purchase.
According to federal data, large truck crash deaths totaled 35,882 between 2009 to 2017. All but six states saw an increase in these deaths. At the same time, the number of miles driven by commercial truckers went down. North Carolina residents should know that speeding is considered a main factor in this increase. The non-profit Road Safe America is calling for certain steps to be taken to address this widespread issue.