Many entrepreneurs know that some of the best business opportunities are franchises. However, it’s most important that you find the right one that will be both lucrative and rewarding.
Childcare franchises offer exactly that. This market includes 47 million children who are under the age of 12 and come from dual-income households.
As this market continues to grow, a child care franchise is a great way to help children, parents, and yourself to succeed.
Keep reading to learn more about investing in a childcare franchise!
Why Invest in a Childcare Franchise?
What are the benefits of investing in a childcare franchise? If you’re interested in franchises, why should you choose child care instead of something else?
One of the best reasons to invest is the childcare market. This has proven to be a growing area, which is estimated to grow up to $520 billion by 2022. This industry valuation means that childcare is on the rise.
This investment is also good for the community and the families within it. Childcare center franchises bring in profit, but they also help to shape and improve the lives of children. This ultimately benefits each individual family and the community as a whole.
Childcare centers are not just babysitting children. They’re a time to create social spaces and opportunities for learning. This helps the children in their development and helps them to grow their skills.
Research has shown that children who get a head start on education at childcare centers have long-term healthy outcomes. This includes higher adult incomes and a better quality of life.
So while childcare centers are profitable and a great investment, they offer more than a financial opportunity. Giving your community high-quality child care can improve society and help shape the next children.
How Lucrative is This Franchise?
Investing in enhancing your community is a great goal, but you ultimately want your business to be successful and profitable. So you may be wondering, how lucrative is a childcare franchise?
In 2019, researchers valued the childcare industry in the US at $54.3 billion, and they expect it to continue to grow. This goes to show that there is a huge opportunity to grow your business and see great profit margins.
However, simply investing in a childcare center isn’t enough to turn a profit. Owners will need to have business skills to avoid costs that aren’t needed and continue to maintain a high quality of child care.
Duel-income families have become a large population in the US today, which greatly increases the demand for childcare.
With both parents working, there’s a greater need for parents to start looking into pre-schools and childcare centers at early ages for their children.
Investing in childcare today is a great business move, and choosing to franchise withus means you’ll have a great reputation and a lot of support to help you.
How Stable is Owning a Childcare Franchise?
As a potential childcare franchise investor, you want to know whether this will be a successful business today and in the future. In the US, there are currently over 70 million children, and this is a strong demographic.
Children in every age group, cultural background, and neighborhood need childcare. This means that childcare franchises offer an essential business. This is not something that has the potential to disappear.
Parents continue to work and continue to need childcare services for their children. This means that your target audience includes the parents of over 70 million children, who all want what’s best for their child.
Unlike businesses that sell luxury goods and have trouble adapting to the environment, childcare is necessary for our society in the US. Offering supervised care that is fun, education and safe is a service that parents will continue to seek out.
Additionally, when you’re working with us, you’ll have everything you need in order to be successful. With our strong reputation, you’ll own an income-generating asset that has proof of success.
What Skills Do You Need to Be Successful?
If you’re interested in running a childcare franchise, you might also be curious about the skills you need to be successful at this particular business, aside from financial and business acumen.
As a childcare franchise, you might also be a director and need some form of education, such as an associate’s degree or a bachelor’s.
Depending on the state you live in, you might also need further certifications. Each state has its own requirements, so be sure to research and find out what certifications you may need.
Additionally, when working in childcare, having empathy and patience are two of the most important skills to have.
If a child is having a temper tantrum, you want to ensure that you and your employees have the skills to handle the child with care and grace. This will also help you to build a strong reputation in the community.
Having a childcare franchise also means staffing your business with employees who have experience with children. They should know how to educate, rather than punish. They should also know appropriate games, toys, and activities that will help the children throughout the day.
You’ll also be working a lot with the parents of children and this is the time to use your customer service skills. You want your clients to feel heard and feel like you have their family’s best interests at heart.
Working with families is a rewarding experience, and it gives the right person a great opportunity to show their skills and talents.
What Kind of Work and Life Balance Can You Expect?
Other than evaluating your skills to ensure this is the right path for you, you may also be thinking about what it will be like to run a childcare franchise.
This includes the type of work and life balance you can expect to have in this business.
When you’re running your own business, you also get to determine your hours and flexibility. You will have plenty of work to do in order to keep your business successful, but you’ll have the ability to decide your own working hours.
It’s important that there’s balance in your life and be able to take care of yourself and your own family while running your business.
Overworking yourself will create unhealthy stress that will not only decrease your quality of life, but it can also harm your business.
One of the biggest advantages of being a childcare franchise owner is that you can run your childcare and education services while your own children are at school, home or at your business.
It’s important to think about what will work best for your life, and set hours that work for your future.
Managing your staff might involve on-site management to keep up with regulations, but this doesn’t mean you need to work 24/7.
What Is The Process of Opening a Childcare Franchise?
Once you’re ready to start the process of opening a childcare franchise, you will need to first think about the location.
It’s possible that you’ll be purchasing an existing location, which means you’ll be able to skip the grand opening and search for a location. Your job at that point will mainly be to step into the leadership position and continue to run the center.
However, if you’re starting from scratch, you’ll want to think about your market. Finding a location that is accessible to families and convenient for parents who are also driving to work will be important.
Additionally, you’ll need to hire a contractor and assess the renovations that will need to be done. This will take months to complete, so it’s important to work with the right people who will ensure the job is done correctly.
You will also be responsible for following the child center’s existing policies and rules.
There are specific franchisor rules that need to be adhered to, so it’s important to be clear with both your future staff and anyone else working with you about your needs.
When you’re working with us, you’ll also have assistance with finding real estate and establishing your location. You’ll also have help with licensing and every other aspect of opening your center.
How Do You Staff a Childcare Center?
Staffing and training your childcare business is an important part of being an owner. When looking for people to hire, you’ll want to keep an eye on certain skills on their resume, like CPR and first aid training, along with previous experience working with children.
You will have options for who you want to hire. You can choose to focus on employees who have an early childhood education degree, or you can focus on those whose experience is mainly as a babysitter.
Either way, it’s essential to hire employees who enjoy working with children and have the necessary skills to provide high-quality care.
You’ll also want to look into your state’s regulations to determine how many people to hire. There may be a specific ratio of staff to children that you’ll need to abide by.
Each staff member will also be required to go through a background check and fingerprinting, as they will be working with children. You’ll also then train your staff and make sure everyone is on the same page.
How Do You Market a Childcare Franchise?
Once you have your location and your staff, you’ll need clientele. This is especially true if you’re opening an entirely new franchise location in your community.
There are many ways to market a modern, local business, but using your family and friends in the community is a great way to start. Offer a friends and family discount and create business cards and flyers to hand out.
From there, you want to build up your business and your reputation on social media. You can use platforms like Facebook to create a business page, and use their advertising system to target your desired customers.
Another great way to use Facebook is through parenting groups. You can request to post and to let them know you’re available and open for business.
Lastly, if there are any local business gatherings, fairs, or celebrations in town, be sure to make connections and bring all of your branding materials to hand out to families in the community.
There’s also no need to do this alone. By franchising with us, you’ll have business tools to help you market your business in your city. We’ll also provide workshops and training to continue to aid with your success.
Learning All About Child Care Franchises
One of the most important factors in investing in a child care franchise is passion. Being committed to the success of your business, along with a strong desire to contribute to your community and the families with it will help you stay profitable.
By franchising with us, we’ll help you in the process of choosing a location, hiring the right staff, marketing your business, and maintaining certifications.
This franchise opportunity is great for anyone who wants to use their childhood education degree or wants to invest in a growing business.
Click here to learn more about how franchising with us can help you achieve your goals!