Franchise Spotlight: Child Care
Industry trends show an increase in child care franchises.
In January 2020, it was reported that parents were spending a combined total of $42 billion on early child care in the US. Historically, it was common for one parent to work and the other to stay at home and look after the children. However, industry trends show a change in this arena, with families choosing to have children later, the rise in same-sex parents, divorce and women shifting emphasis onto their careers, it is now more common for parents to split the caregiving and economic responsibilities and to both simultaneously work alongside raising a family.
This has led to an increased need for child care. Furthermore, the recent spotlight on the importance of child development, and the early years, has led to a diverse range of franchise opportunities, from crèches, babysitting and nanny services to kid’s clubs, mobile childcare and more.
Child Care industry analysis
A passion for working with children is a must in this sector, as well as energy, enthusiasm and excellent intrapersonal skills. This is a sector where client well-being needs to be put ahead of profit. Do your research to ensure you are going with a reputable brand name with a glowing track record for high-quality child care. The recognized franchise brand will also be important for drawing in customers, as parents/guardians want to feel assured that their children are incompetent and trusted hands. You will be able to lean on the franchises wealth of experience, operational, management methods and resources so your business can offer the best possible child care to clients.
It is important to consider your own skills, preferences and experience when choosing your franchise. Would you prefer to work with early years or school-age children? Are after school or daycare hours preferable? If you have your own children, this can be a great business to fit around your own demands.
This is a highly rewarding sector to be part of and offers reliable and potentially lucrative business models. Childcare is part of a long-standing industry that is simply not going anywhere – for as long as there are working parents, there will always be a demand for child care services.