Rising inflation, rising prices of various commodities, and high gas costs have severely impacted the livelihoods and lifestyles of consumers and business owners across the country, and Franklin is no exception.
Small business owners on Franklin Main Street are struggling with the challenges of the recent economy.
Graeme Ash, owner of Franklin Mercantile Deli and Cantrell Concrete, has had to raise the prices of groceries at his restaurant. The cost of high-quality equipment and materials increases.
“I think the only way for businesses to survive is if we just raise prices and hope we don’t turn customers away,” he said. “Fifty cents more for a sandwich and sides doesn’t sound like much, but it could be a bit more going elsewhere to keep people out of your business.” I think we have another bang for your buck. In terms of price we are still one of the cheapest restaurants in town and we have great food. I daresay I would never sacrifice the quality of my food or bring cheap stuff. I’ll stop first.”
Some owners are experiencing downturns, with retailers selling less or no premium products than in previous years; Others also receive freight surcharge by land and sea.
“It’s really difficult,” said Marianne Demiers, owner of Tin Cottage gift shop. “Sometimes the fees are as high as 10%, and sometimes a business owner can make 10% profit from their businesses. If you get an extra charge, he takes it.”
She went on to say that rising living costs and gas prices have impacted staff and family travel, which has also impacted her business.
“In Franklin in particular, we’re seeing a little less travel,” she said. “People are holding on to their money a little bit more, but it’s not having as big of an impact as the travelers that are still coming. We are lucky to have healthy tourism; they just spend a little less. Staff It’s also harder to get. We only get paid more, which is fine. What we’ve done to turn this around is we have great staff that have been with us for years and to have more staff. Instead, we give our current employees more responsibility and pay them more.”
“Fuel is really driving a lot of the market,” Ash said. “When the demand is high and the supply is low” [it will increase the prices], … fuel powers the trucks that transport food, between the farmer and the consumer. ,
Asch and DeMeyers both said they are grateful for the support of the Franklin community for their companies during these trying times.
“The economy isn’t expected to go negative, but I will say I’ve worked in a lot of places, my husband and I have moved a lot and we’re very fortunate to be in a community like Franklin where Allen small businesses are doing well. The owners support each other,” DeMeiers said. “People in the community support us.”