Make a Career With Children’s Franchises

May 23, 2012

By the year 2050, the United States Department of Labor projects the under-17 population to rise to over 96 million. As the population rises, there will be increased demand for services to support, care for and enrich children. You can start an exciting career in children’s franchises today! There are a variety of child care, tutoring, sports and entertainment franchises available.

How do you know if a children’s franchise is the right new opportunity for you to make money? You’ll need to research what types of franchises are available to invest in, and decide what you are passionate about. You do not need to have a background in child development, but you do need the skills to operate a business and be able to identify and hire people with the right skills. Another critical piece of the package is training and development resources. Examine the services and support provided by the franchises, and whether you or the people you plan to hire will have the skills to fill in the gaps.

Once you have selected a type of children’s franchise, select several potential locations to site the business. Research the demographic of each neighborhood to determine which location is best suited for the type of franchise you are considering. For example, tutoring and childcare franchises would be well suited for a location within several miles of both schools and residential areas. Demographic research is critical because even in a difficult economy, the right location can help your business survive and thrive.

Consider the initial cost of starting up the franchise compared to the ongoing operation and maintenance cost. For example, a children’s clothing franchise will require ongoing costs for leasing retail space, overhead associated with operating the business and staffing retail associates. An online tutoring franchise does not require office space, so operation costs would be reduced.

Assess the risk of litigation and your potential for needing ongoing legal services. Find out if the children’s franchise you are considering has been the subject of adverse legal actions or complaints. Know what legal services are provided by the franchise, in the event you need to resolve a complaint or need legal advice. Having this information goes a long way toward peace of mind.

As with any franchise, research earnings reports of actual franchisees. You can obtain this information from a Franchise Disclosure Document (FDD) required by the Federal Trade Commission. Because some types of franchises, such as child care, can fluctuate with the economy, finding and analyzing earnings reports of similar franchises will help you make a well-informed final decision.

Children’s franchises can be very rewarding for people who enjoy working with children and helping parents. Decide what type of children’s franchise you are passionate about. Select a children’s franchise with a good support system and reasonable ongoing operation and maintenance cost. To ensure you can stay in business for the long-term, site your location carefully and research actual earnings reports of similar franchises in similar sized communities. Your career in children’s franchises is waiting for you.

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