c h i l d r e n ’s p r o d u c t s a n d s e r v i c e s f e at u r e
EXPERT ADVICE: Rick Bisio | Franchise Coach & Author
Franchising
with a Focus on Kids Rick Bisio is one of the countries most respected franchise coaches and author of the Amazon best seller, The Educated Franchise – 3rd Edition. Since becoming a franchise coach in 2002, Bisio has assisted thousands of aspiring entrepreneurs nationwide explore the dream of business ownership. www.afranchisecoach.com
When deciding upon starting a franchise, one of the biggest considerations is your target market. Who you’re looking to serve as customers can determine requirements such as location, expenses and staff training needs. When a franchise is aimed at serving the youngest of customers, how viable is a business that focuses on children’s products and services?
Profits to be Made Over the past 20 years working as a franchise coach, I have worked with many franchise opportunities serving families with kids. With more parents working while raising a family, that means families have more disposable income to spend on each of their children. There are multiple industries and markets that serve the needs of parents and their children. Take the daycare industry for example. Market analysts say in the U.S. alone the daycare industry is worth $61 billion. They also say the childcare market – which includes early care, daycare, early education, and backup care – is expected to grow at a compound annual growth rate of 3.9% through 2027. Of course, child-focused franchises aren’t only about 38 Franchising MAGAZINE USA
education and watching the kids while mom and dad are at work. The family indoor entertainment center market is also growing. Market analysts expect this global entertainment market to reach $69.55 billion by 2030, with a CAGR of 10.9%.
Room for all Sorts of Concepts There are a wide variety of businesses that cater to children. Some successful businesses have combined two proven concepts. Ivybrook Academy, for example, focuses on early childhood education while also providing a daycare function for a portion of the day. Another example is We Rock the Spectrum, a fitness play franchise that specializes in serving special needs children. You can also go in the opposite direction and focus in on one kind of service or product. Code Ninjas, for example, is an education center franchise that focuses on teaching children about computer coding. Sharkey’s Cuts for Kids is a franchise specializing in kid’s haircuts. Other concepts for kid-focused franchises include children’s clothing, children’s party catering, personal tutoring, after-school activity centers and sports camps. There’s room for both in-person and remote/virtual services among kidfocused franchises. With the rise of remote businesses during the COVID-19
pandemic, virtual learning became
commonplace. Even now as the pandemic is subsiding and the restrictions are
largely gone, many are continuing to use
virtual classrooms to match students with tutors in a variety of subjects, as well as
helping parents connect with pediatricians, nutritionists, and other experts for
consultations. Meanwhile, in an effort to
