What’s in store for small business owners in 2019? Larry Sutton, CEO and founder of the RNR Tire Express tire and custom wheel franchise, predicts small business owners will experience an economic boom.
As a CEO in the trenches of growing a national business in the automotive segment, Sutton knows first-hand the challenges and opportunities of today’s business environment. He explains the reasons for his optimism in a Q&A with Modern Tire Dealer.
Q: What does the economy look like for small businesses in the coming year?
A: Small businesses will see an economic boom in 2019 and a record rise in both new store openings and revenues. At RNR Tire Express, we have seen tremendous growth this year as a small business and in 2019 project to open 18 new stores in addition to the 118 already open.
We are also expecting to see sales increase by 10% to 15% as a result of this flourishing economy. With the current economic climate in the United States as is, all small businesses should expect to be primed for continued growth in the coming year.
Q: Why does the economy look so favorable for small business owners and aspiring entrepreneurs in 2019?
A: Nationwide, we are seeing wages increasing while the unemployment rate is hitting an all-time low. This is great for job-seekers as they have a plethora of options, but for small businesses it means fighting harder for quality employees by offering higher salaries and flashier benefits in order to appeal to these candidates. As a result, consumers will approach the new year ready to spend some of the additional money they are finding in their paychecks.
The increase in opportunity and disposable income not only gives consumers ability to spend more on goods, it also provides an opportunity for entrepreneurs. As time and consumer demands progress, entrepreneurs have the unique opportunity to capitalize on these shifting demands to fill the gap with new products for consumers to purchase. Not to mention, an increase in cash flow universally also gives entrepreneurs the funds to invest in new business opportunities to meet the ever-shifting needs.
If the economy continues its upward shift, more universal cash flow will ultimately give small businesses and entrepreneurs the means for success in 2019. It should be great year for the small business owners of America!
About RNR Tire Express and Larry Sutton
A veteran of the rent-to-own industry, Sutton is founder and CEO of RNR Tire Express, a national franchise retailer of quality tires and custom wheels offered with convenient, no credit hassle payment plans designed to fit each client’s unique budgets. Established in 2000, the $150 million brand has grown to 118 locations in 22 states.
For more information about RNR Tire Express, visit www.RNRTires.com.
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