Franchising is child’s play – and that’s not necessarily a bad thing! Over the last decade, kid-centric franchises have popped up across the country, giving parents more ways to engage and entertain their little ones. For entrepreneurs with a playful spirit and a passion for helping children learn and thrive, investing in a franchise can be a profitable adventure.
When most people think of children’s franchises, their first thought is a daycare center. However, the variety of imaginative and successful businesses continues to grow year after year. Children’s salons, music and art classes, trampoline parks, and swim schools are just the tip of the iceberg. By partnering with a Franchise Consultant at FranSelect, you can find a franchise that allows you to share your talents with the next generation.
So, why are children’s franchises such a hot market right now? There are a variety of reasons behind the boost.
- The growing demand for childcare and extracurricular activities during the workday – During COVID, parents had to juggle their workloads with educating their kiddos since most childcare centers and afterschool programs temporarily closed their doors. As things have slowly returned to “normal,” parents are re-enrolling their children in programs so that they can get the care and socialization they need – and mom or dad can focus on their work without interruption or head back into the office.
This is an opportune time to consider investing in a childcare franchise. According to researchers, 58 percent of working parents rely on childcare, but 27 percent of families struggle to find an open childcare spot due to the limited number of centers. For franchisees, their target market is ready and waiting for their services.
- Parents are willing to spend on their child’s happiness and hobbies – When Gen X and Millennial parents were growing up, extracurricular activities outside of school-sponsored programs were often limited to piano lessons, dance classes, and park district sports. Today, there are programs that fit every child’s interests – from coding and science to cooking and rock music – and parents are ready to open their wallets. In fact, 76 percent of consumers prefer to spend money on experiences rather than material items, pushing kids’ activities like swim lessons and karate classes to the top of the must-do list.
- The need to address learning loss – Because of the pandemic, children lost the equivalent of 13-22 weeks of learning due in part to remote instruction. While kids are slowly bouncing back after returning to in-school classes, parents are doing what they can to accelerate learning – and in many cases, that means taking advantage of the programs tutoring, enrichment, and educational franchises offer. Between 2020 and 2025, the private tutoring market is expected to grow by more than $8 billion.
- Families have more buying power – Many parents are waiting later in life to have children, which provides them with a more solid financial foundation when their kids are ready for activities outside the home. Even as inflation continues to rise and prices skyrocket, parents are still willing to spend money on their children’s extracurricular lessons and classes. A Capital One survey found that one-third of families spend more than $1,000 per child per school year on afterschool activities.
Children’s Franchise Opportunities Near Me
A children’s franchise offers entrepreneurs the best of both worlds – the chance to be a kid again while building a thriving business! To find children franchises that are available in your area, go to www.franselect.com or call 636-530-6925 to schedule your free consultation.