Coming of Age
We're not talking kid stuff--the booming children's market is serious business, and franchisees are reaping the rewards.
The franchising industry is aging beautifully, but there's one segment of it that stays forever young. Youthful, energetic, ever-growing and impulsive, the kids' market definitely reflects its target population.
While kids hold the key to our future, they also control their parents' purse strings. American families spend approximately $115.6 billion a year on their children for food, clothing, personal-care items, entertainment and reading materials, according to a 2006 report by Packaged Facts. This figure is expected to increase to $143 billion by 2010. Meanwhile, the buying power of kids themselves now tops $18 billion. Kids may be small in size, but spending by them, around them and for them represents a powerful market opportunity too big to be ignored.
Continue reading this article - and everything on Entrepreneur!
Become a member to get unlimited access and support the voices you want to hear more from. Get full access to Entrepreneur for just $5.
Entrepreneur Editors' Picks
-
When Her Parents' Restaurant Burned Down, This First-Generation Founder's Hot Sauce Brand Rose From the Ashes to Take on Corporate Giants
-
Not Hitting Your Goals? Here's How to Know If You Should Change Tactics or Strategy.
-
You Can Generate Your Own Viral LinkedIn Post With This Hilarious Tool
-
This Couple Lost Everything When the Housing Market Crashed. But Manifesting 'Magic' Helped Them Launch a Metaphysical Brand With 10 Stores.
-
The Best Software Solutions and Tech Providers in the Franchising Industry
-
This 18-Year-Old Student Wanted a Better Way to Keep Track of His School Work. So He Built an App — and a Business.
