Raising a child is likely one of the most expensive ventures in life. Many parents want the absolute best for their children, whether that be clothes, after school care, tutoring or music lessons. Parents invest a lot of time and money into their children. According to a report by CNBC, U.S. parents expect to spend nearly $350,000 per child over the course of their lifetime. Wealthy parents may spend more than $711,000 on their child over the course of the child’s lifetime, according to the same report. Children’s franchises can provide many of the services and items parents desperately want for their children. Children’s franchise opportunities can range from thrift stores like Once Upon A Child, to music lessons and daycare. All can be savvy investments for a business owner to capitalize on the demand most parents have to cater to the needs of their children.
Growing Market
IBISWorld reports the market size of the Child Education and Developmental Center franchise industry will likely increase by nearly 3% in 2023. On average, the sector according to IBISWorld, has grown by about 1.6% per year between 2018 and 2023. This steady growth in a niche market can mean big earning potential, especially as parents continue to seek out childcare and other children’s services.
A recent report from Franchise Grade found education center franchises are among the fastest-growing franchises within the children’s franchises sector. For good reason. Many parents continue to scramble to find care for their children, especially in rural areas. The Center for American Progress reports about 60% of rural families do not have access to childcare. Even a one-hour music lesson can help ease the childcare burden for many families.
Money to be Made
The best way to determine how much money you can make with children’s franchises is to look at the Franchise Disclosure Document (FDD) for any franchise you’re considering purchasing. This can give you a better idea of fees, investment costs, and returns.
However, we can look at market data to see where there are opportunities for financial gains. IBISWorld estimates the Child Education and Developmental Center franchise industry market size in 2023 is close to $4 billion. It’s an in-demand industry with a ton of growth potential. While some children’s franchises can be pricey to start, Franchise Grade found many require an investment under $200,000. This can make owning your own business more attainable, and with lower start-up costs, gains can be made quickly.
Children's Products & Services Franchise Opportunities
Parents spend a lot on their children to provide their kids with the best opportunities. The U.S. is seeing a great demand in children’s services—from daycare and tutoring, to music lessons and clothing. It’s a great time to help provide your community with needed services and own your own children’s franchise. Your franchise fee covers training and ongoing support, a proven business model, and a full team behind you.
