CHILDREN'S PRODUCTS & SERVICES FEATURE
The best part about franchising is the wide variety of options. Whatever your passion, interest, strength or experience, there are so many opportunities for success.
One of the most rewarding franchises is focused on children’s products and services. Having the main client be kids and working towards making their lives better, as well as bringing a smile to their face can be extremely rewarding.
Though it’s an enjoyable experience, it’s also successful and profitable, especially when franchised. The global toy industry in itself is a billion dollar market and the estimated market revenue for baby care product is estimated to be over $11 billion by 2025. (source).
Services and products targeting children have multiplied in the last decade or so. Social media platforms and the ability to communicate on a larger spectrum has shared numerous ideas for kids, as well as the many needs parents and children have.
Before even having a child, the franchising market has dominated the pregnancy niche. Women need clothing, care products, health products and more while carrying their child. Many supports are necessary for mothers-to-be and this has become a business opportunity.
A new competitor of the maternity products is the home business. A lot of women are choosing to buy used products for the short term months of their pregnancy. Social media has allowed women to share their experiences and needs with one another, and help access the products and services they need.
An environmentally safe franchise that specializes in consignment could help get a leg up on the competition but realistically the home business is a small niche to consider when running a large franchise. A franchisee is backed by marketing, support and big name brands. Though a few items are trading and handmade for pregnant moms, parents still want a safe and secure product in their time of need.
Baby Products and Services
There are so many products needed to raise a baby nowadays - more than the standard crib, stroller and carseat, safety products make it mandatory for parents to invest and supply the proper products to their babies.
Baby product focused stores can also serve as a multiple use business, including kids toys and products as well as maternity products. A great source of profit is the registry and the high end products in which parents invest. There are strollers, cribs and rockers that are extremely expensive and it’s their price tag that makes them more desirable.
A baby sometimes gives parents more spending power, gaining money from supportive friends and family to get their homes ready for the precious bundle of joy. The list is never ending: bottles, bottle cleaners, soothers, chairs, bibs, bowls, spoons, thermometer - the shelves will be filled with endless options and always have a new clientele.
The franchising option may have a higher investment cost, but it guarantees business because it's a name that parents can trust and they want what is best for their babies. They need security that all products are safe and they need expertise and guidance on how to chose the products best suited for their baby. It also ensures that your business carries the latest trends and name brands familiar to shoppers.
A business with a lot of products would be a great success, covering more demands and customer needs allows for more money to be brought in. That being said, a franchisee may be interested in running a small more personable business. Researching and reviewing expectations - including types of products and services offered, as well as employees needed to run the business, would help determine how large of a responsibility would be expected.
Fun spots for kids used to be reserved to giant theme parks scattered throughout America but franchises have responded in a smaller more accessible way. Recognizing that kids need fun and active interaction, there are plenty of recreational franchises built just for children. From arcade spots, to sports specific venues, trampoline parks and high tech bowling alleys and laser tag, parents have plenty of options for a day of entertainment, food, games and fun.
The recreational franchise can also appeal to one’s personal passion. Those interested in sports, could easily find a franchise that specializes in teaching kids, or invites children from the community to participate in a specific sport. Those more interested in high pace entertainment could invest in an arcade with a variety of games.
There is no experience required, but an understanding that the recreational facility could run at different hours than most businesses and have high traffic rates dependent on the time of year. A franchisor will be of support to help guide investors in the expectations and requirements, an understanding of the franchisee’s role in a bigger operation would be vital before moving forward.
The children’s franchise opportunity doesn’t end there, it only hits the cusp of all things kids. There are numerous educational facilities and caregiving options, arts and community centres, technology and gaming mobile franchises as well as retail and clothing options. A lot of venues profit off birthday parties and group get togethers as well as Spring Breaks and vacation times. Considering a vast difference within the quiet and busy breaks is important to address before making an investment and inquire from the franchisor how they cope with the different time periods and if there is a plan of action. Taking a look at how the business addresses those ebbs and flows will help give you confidence in the franchisor and the future of your success.
Those interested in working with a children’s franchise do not necessarily need any experience, but should truly enjoy working with kids and have a passion for child-friendly products and services. Take the time to survey the needs of the community as well as the many choices in franchises before making the step forward. Narrow down top picks and connect with the franchisors directly, as well as local business owners about expectations. Though a franchisee may not work directly with the kids, it’s important that they could offer professional and caring services with the customer if needed.
In 2018, over 22% of Americans were under the age of 18, which is a huge source of clientele and they have buying power through their parents who have to provide for them. Besides necessities, including childcare, parents are willing to invest in their kids and provide them the best life that they can. As a franchisee you can be a part of that investment and watch your profits grow.
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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.