Fuel The Next Generation With Children's Business Franchising There's endless opportunity in kid-friendly startups.
By Jeff Cheatham •
Opinions expressed by Entrepreneur contributors are their own.
For the entrepreneurially minded who wish to establish franchise ownership in the children's business category, the future looks both diverse and bright. There's an entire world of children's retail products, activities and business services franchises to choose from in a market that, by all appearances, is expanding further into new avenues and territories. Ownership categories include activities and sports, retail toy and hobby shops, franchises that cater to babies and toddlers, and the more common tutoring and daycare business options.
Related: Interested in a Children's Franchise? Here Are the Top 15.
Factors driving the industry
Even though birth rates are slightly down, and people are having fewer children than in generations past, parents are increasingly supporting the kids they do have by providing as many extracurriculars as the family budget will allow. Many of the children's business franchises on the market today offer the means to assist in a child's developmental, social, physical and mental wellbeing. A majority of these franchises are specifically geared to celebrate milestones and accomplishments that demonstrate achievement — which can do wonders for a child's developing self-esteem. Also, there's way more to choose from than just little league baseball these days.
More than a few business opportunities
Aside from those that operate strictly in the educational category, prior experience is not a requirement for children's business franchises. If you have a passion and enjoy working with kids, are involved in your own community and wish to make a living providing products or services to our youngest generation, your choices can be both diverse and exciting. There are family entertainment franchises, sports camps, swim instruction facilities, music-related schools, parties and event-planning and — one of the most popular — several forms of educational tutoring consultancies. A cursory glance at Entrepreneur's 2022 Top Children's Business Services Franchises list reveals top performers such as Kumon, a supplemental education franchise that ranked No. 6 overall in this year's Franchise 500 list. Other similar options that earned a spot within the top 100 include Mathnasium, Primrose Schools, and — a concept dedicated to learning a lifesaving skill, Goldfish Swim School.
Related: Children's-Education Franchises Are Going Hi-Tech
A market growing with a new generation
Moving forward, the marketplace for children's business franchises will likely remain healthy and in lockstep with the current generation of children who are growing up today. The number of children in the U.S. is expected to top 80 million by the year 2050, and more than 80% of these children's parents are classified as millennials — one of the most powerful spending demographics today. Currently, the amount spent per child is just over $22K, and expected to increase to $32K by 2030. Millennials also greatly favor experiences over material possessions, by a margin of 75%. Children's business franchises can be found at all price points — from under $25K to over $1 million — and there's plenty of variety to choose from, in what appears to be a very stable market for years to come. For a look at Entrepreneur's 2022 Top Children's Business Franchises, just follow your heart, and this link.
Related: Entrepreneur's 2022 Top Children's Business Franchises
