Big Business Children’s products and services
One of the most powerful consumer markets in America is those who are under the age of eighteen. Surprisingly, youth, who do not possess any income, have enormous buying power. Parents want the absolute best for their children and are willing to pay for top of the line products and services to get them what they need, and want.
For example, baby care products alone have a worldwide market of over 73 billion US dollars - and they are only a small portion of the children’s industry (source). The wide range of children products begins with babies’ clothes and diapers and continues into video games, sporting goods, diapers, daycare services and beyond.
While some children's products and services require strict protocols and safety measures, a franchise would provide up to date standards to follow and ensure all franchisees create a safe and reputable business. Ensure that a franchisee will provide guidelines and support before investing.
Another bonus to franchises in the children's market is the branding and reputational factor. Franchises carry well-recognized products to appeal to all consumers and have already established an outward-facing reputation that is well recognized and trusted.
Pregnancy and baby products and services
The economic buying power of children starts before they even enter the world. Pregnancy products and services are a huge market and one that is well-established in the franchising industry. Women are invested in a healthy and comfortable pregnancy more than ever before - which includes maternity clothing, creams, pillows, books and many other products. At the same time, there are also pregnancy and ovulation kits to determine and plan for pregnancy and even services that help pregnant women or women trying to get pregnant. The pregnancy care market is estimated to reach over $34 million US by 2026 - that is an expected growth of 5.5 percent (source). This is another form of business in which the consumers are willing to drop big bucks for great results. They want to ensure that they provide the best space for mother and child during this short period in their life. Something that personal can not only pull on the heartstrings but also have a significant effect on the purse strings as well.
There is one birth every eight seconds in the US, and in 2018, children aged four and under accounted for 27 percent of the population. That is a lot of customers to consider. When parents are willing to put their kids' needs above their own, it's a good chance; it's also where they are putting their money.
The baby product industry is huge - the range of options to choose from is enormous, but selling all of them in one place is also a consideration. You would be competing with other industries, including supermarkets and small businesses. Take note of what services a franchise offers within their store, ask what products are being offered and whether or not other products are being sold within the franchise.
Baby services include daycares, birthday parties, baby groups and recreational activities and more. Nowadays, it's not enough to provide babies with just love and attention - they need the best of the best. And as research continues around how to keep babies safe, there are more products needed to keep baby in the safest situations at all time. The more we know, the more products are made, and the more profit to gain.
Recreational and Educational activities
With both parents working in the majority of households, the everyday family needs a little support to help keep their kids involved in physical activity, as well as after school care. With kids having a lot more to do, as well as a lot more options for entertainment - there are numerous franchise options out there. Those interested in running a children’s service business could tune in with their inner child and pursue a passion.
Recreational franchises include entertainment facilities, like arcades, mini putt, glow in the dark bowling and sometimes all three. There is fun for the whole family, as well as services for birthday parties and events.
Some recreational facilities offer after school programs and summer camps. It depends on your level of interest. Some franchisees would like to stay focused on one area that specializes in a particular activity. In contrast, other business owners are interested in tackling all activities possible. For those young at heart - this is an excellent opportunity with so many options.
On the other hand, a popular franchising choice for kids is the tutorial and educational franchise. Parents across the country sometimes need help assisting their kids with school work and studies. There are a variety of options: some address kids of all ages, others specialize in high school studies. There are options for learning centers, with a range of services of mobile franchises, with tutors teaching children at their own home. Depending on the start-up costs and interest, a franchisee has a lot of different opportunities to help support kids throughout their academic career.
In 2017, the global children's wear market was worth nearly 203.4 billion US dollars, and in 2019 the US baby and young children's apparel market was valued at 27 billion US dollars (source).
With such a vast industry, there is a lot of opportunity for franchises. A lot of retail options offer children's clothing alongside men and women, while other retail outlets specialize in just children's clothing.
With the online shopping industry booming, it's essential to consider a franchise that offers both services and has streamlined processes to gain the most profit. Some companies rely mainly on online sales to generate huge profit, giving franchisees less hands-on work.
On the other hand, with concerns about the environment and overconsumption of clothing leading to a greater ozone footprint, franchisees have responded to consumer's environmental demands. A lot of franchises specialize in used clothing and used baby products (that are safe), which appeals to many parents nowadays. For those interested in the children's franchising business, but also do not want to contribute to the 25 million tons of textiles that end up in landfills per year in North America - an environmentally friendly franchise might be the best-suited option
The children's products and services franchising industry are full of options - no matter what your interest, there are plenty of great and highly profitable franchise options that suit everyone's needs. Parents have big pockets when it comes to their kid's interests and passions, and it's an excellent opportunity to run a reputable business, while also giving back to the community.
After receiving an English Degree, followed by a Journalism Diploma, Gina Gill became a freelance journalist in 2008. She has worked as a reporter and in communications, focusing on social media. She currently works as a community information officer with Epilepsy Society, while pursuing her writing career at the same time.