|Kid-Friendly Smart Franchises: Children of working parents inspire new business|
|Detail:|| Experts say demographic swings continue to inspire new types of franchises that cope with changing societal needs. Outsourcing dealing with children is one such franchise opportunity prompted by working mothers who are unable to care for their children at home. As a result, several franchises focused on supervised recreation and early education for children are cropping up. Franchises such as Kidville, Abrakadoodle and Drama Kids International have appeared to meet parents' and children's evolving needs. Their experiences also offer valuable lessons in how to build new businesses from the ground up.|
Demand for such franchises also come from parents who are unhappy with local schools and willing to pay extra to motivate their children to learn. Successful franchises offer art education in community and day care centers, private schools and summer camps. Here success is based on providing quality services to the children of highly educated parents who demand quality education programs.
Even though, children's services are recession-proof, children's franchises make safety their top priority. The background checks performed on employees are more intensive than those required at other franchises. Children's franchises also deal with issues like licensing and hiring trained teachers, not unskilled workers. Nearly all franchises are run out of the owner's home, which keeps costs down. Women constitute two-thirds of franchisees; many leave corporate jobs to raise families and then look for chances to be entrepreneurs.
Children’s franchises depends on building multiple revenue streams such as partnering with indoor soccer camps to teach art when the facilities aren't being used and also selling art kits. Several owner operated up-market franchises offer a clean, safe, secure environment with multiple facilities such as gym, art and specialty classes, indoor play gardens, salon for haircuts, cafes and retail stores, all under one roof.
According to franchise experts, in the increasingly competitive market of children’s franchising, the less capitalized franchises and ones not offering a quality product will flounder, and the strong ones will prosper.
|Source:||Based on a story by Gary M. Stern for the Investor's Business Daily, May 14, 2007|