End of Franchise?

Franchise thrived because of ease of credit, which is drying up fast causing the franchise businesses to crumble.

At least this would be true for certain consumer products & services. Instead of high end and costly label items everyone will start buying stuff from local stores, art & craft fairs etc., which anyway produce hand made, and unique items. With ever growing internet based businesses and social media to promote them, home based small businesses are easier than ever to operate.

I think this is a good thing. Mom & pop shops will thrive, which effectively will mean small businesses will grow. Small businesses are true drivers for organic growth rather than cancerous growth of food chains, retail stores etc. Instead of buying cheap made in China products from Walmart, preference will be to buy locally made products, which will also mean less carbon footprint.