KIDS’ BUSINESS

Franchises in child care and education offer several benefits.

By Brian LaCour

The childcare services industry includes about 55,000 commercial facilities with combined annual revenue of $28 billion, plus about 20,000 facilities run by nonprofit organizations with combined annual revenue of about $14 billion.

Demand is driven primarily by growth in the youth population, and secondarily by employment and income. Recognition of the importance of early education is also driving demand for high-quality care. The profitability of individual childcare facilities depends on good marketing, reputation, and efficient operations, as well as how saturated the local market is.

With acknowledgement of this solid demand in the educational industry, you can launch a children’s education or service business for less than you may think. This industry provides lowcost, unique, home-based and brick-and-mortar business opportunities to work with children. The investment range for home-based models range from $60,000 to $140,000; brick and mortar ranges from $225,000 to $450,000. The overall investment will vary from state to state. These businesses are designed for those who are seeking a great investment option that allows them to make a difference while being passionate about what they do.

If you enjoy working with children and have an interest in their personal growth and development, an education business might be the right investment for you. The child education industry continues to grow, bolstered by multiple bodies of research that support the benefits of early childhood education. In response to parent demand, several franchises now provide center-based childcare for children of all ages that are focused on teaching mathematics, literacy, language-based skills, and even coding. You can positively impact children’s growth and development, better preparing them for school. For older children, franchisors offer after-school programs where you can help them with their development and teach new skills.

Operating a childcare service business can fulfill an entrepreneur’s dream in several ways. Opening the doors to your child service business is very different from starting other businesses. This type of business is something that provides a valuable service to families, working parents, and children in your care.

Owning a childcare service business gives you freedom and flexibility. First, you are your own boss. You have the opportunity to set your hours and focus on activities and tasks that are important to you. The franchisors have already formulated a template for success—everything from marketing, curricula, licensing, and permits. Many brands do not require any previous industry experience. Starting your childcare service business gives you a chance to make your own money and be self-employed. You do not have to wait to be employed to make your cash. You can choose to be an owner operator and be involved in everyday operations, or you may choose an absentee model and hire an operation manger or supervisor to run the day-to-day operation. Whatever model you choose, owning a child service business can be extremely rewarding, personally and financially.

Brian LaCour is a certified franchise consultant. He has more than 20 years of business leadership experience in driving fiscal results, strategic planning, saving costs, increasing revenue, streamlining processes, and developing top performing teams. LaCour’s passion for helping people led him to the role as president of the International Franchise Group. Call LaCour at (561) 502-7283 or email him at blacour @internationalfranchisegroup.com.