Children's Products Franchising Feature
Children have a lot of buying power in the American economy. Once off the radar of producers and businesses, children are now an important part of the economic makeup in American society.
Kids are loaded with phones and computers and information that exposes them to many means of advertisement, as well as information telling them what they want and why they need it immediately.
Even children without any financial income have the most influence over their parent’s choice in spending, making them a huge source of income.
A franchise that adheres specifically to the buying power of kids are those that specialize in children’s products exclusively.
A separate entity that falls directly underneath children’s products is the baby market. A whole other business that generates profit and has a variety of products as well as services, available to those interested in such a franchise.
The downfall to children’s products and services can be the constant turnaround and fickle needs of such consumers. A franchise would need to be backed by researchers and supporters that keep themselves engaged in the younger generations and consistently turning out product that adheres to such needs. Before investing in such a particular franchise, it would be wise to research marketing plans, future revenue predictions and whether or not there is a research team or a product team that is invested in the up and coming fads of children because these products needs and wants come and go by quickly. From Rubik cubes, to slinkies, to shopkins and fidget spinners: a lot of children’s needs and wants and fast and fleeting. You’d want a business that can keep up.
- Is this franchise producing different products every year?
- What brands are associated with such a franchise?
- Where do they get their ideas and how can they insure there will be a constant turn over?
- Does this franchise have a product that is timeless and crosses gender lines?
- Does the franchise specialize in a service that will always be in need or can change to the desires of the next generation?
These are a few of the questions that a franchisee would as a franchisor before starting a children’s products and services franchise.
It may be assumed that the baby market is not only small in product but small in profit. It oddly could not be further from the case. New parents want to invest in the best for products and services for their children on all levels.
The baby market has become larger through education and information. Safety protocols has opened up the doors for new and improved baby products: car seats that have to be replaced, cribs with a specific criteria, fire resistant clothing, PVC free bottles. There are constant warnings and guidelines for parents to follow that generate a larger scale of purchasing that is never ending.
Children have become a constant expense due to expiry dates and safety updates. Plus all the toiletry products that are exclusive to baby. Even though it’s a niche market, global baby market revenues are expected to continually rise.
A small competitor in the baby market is the small business owner. Baby products have become popular in downtown street corners, dominating the organic and environmentally-friendly sector of the baby market. It would be wise to do a quick surveillance of the location to understand the products of smaller competitors and how many are in the territory and area a franchisee is considering.
A profitable franchise market is that of children’s services. Both parents are busy and time is precious, and a lot of families pay for convenience. There is also a pressure to have children excel to the highest standard of all abilities, which in turn creates more and more service options that generate more money.
One of the most popular service franchises for children is in the area tutoring. According to a 2004 estimate, The American public purchases between $8-10 billion of tutoring services annually.
Of course there is a better understanding of the variety of learning disabilities, and a lot of the times parents need to seek guidance outside of school grounds to better assist their children academically.
Franchisees who are interested in invested in an educational service to children, could find a passion in tutoring. There are a lot of franchise options within this niche, that specializes in different learning challenges, or focuses on a certain age group. Some tutor franchises also have after school care and other related programs. A look at insurance and safety protocols would give an understanding of how many constraints a franchisees would have in the business.
Children’s services extend beyond tutoring, such as child care, which usually focuses on the younger age group. Most of these facilities have a lot of criteria including insurance and safety protocol - which will be easily provided by the franchisor. However, a well researched overview of each childcare franchise would be well recommended and a decision based on personal criteria would be suggested. Also, it would be wise to ask the support system of each franchisor of all their rules and regulations and knowledge of state criteria, before investing.
A newer interest in children’s services includes recreational activities and birthday party services, including camps, sports groups and simple entertainment. Parents now rent out a specific service, which could be mobile, to celebrate their child’s birthday in a unique and special way.
The fun thing about children’s services is the varied and amusing choices a franchisee has in this specific criteria. If you have a passion in wildlife there is likely a franchise that has such a business that caters to children’s parties. There could also be a franchise that has an ongoing stable service that’s open to the public all day all.
The franchise market for children and babies may appear specific and small, but it actually covers a huge range of services and products. The downfall would be the great amount of research that it would take to narrow down a franchise that suits your personal needs and passions.
Though there would not be much involvement from the franchisee, for those interested in changing lives and helping children, there is a lot of opportunity to be a part of that process. Those with a background in children’s services would easily adjust to becoming a franchisee in this area, but no background experience is necessary. The benefit of a franchise is not only the brand name and reputation, but there is a home office that provides support, as well as information and education.
A lot of children’s products and services require a lot of insurance and legal protocol, which would be another reason to consider a franchise. It keeps investors safe and makes for a conscious investment.
For those with a whimsical passion and a desire to work with children, a franchise would allow for a carefree approach to a profitable business.
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ABOUT THE AUTHOR: 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.