Owning a Child Education Franchise provides a great opportunity to bring about change in an industry that is ripe for disruption and growth.
You can now find a plethora of franchises catering to pretty much any area of children’s learning, development and extra-curricular activities. Many franchise experts have noted that the number of franchise businesses operating in the education sector has increased at an astonishing rate over the past decade.
This means if you decide to invest in a kids learn to code franchise you will be entering a market that is in high demand.
The educational services industry is constantly expanding with over 100,000 establishments currently, according to the Bureau of Labor Statistics.
But what is it about the child education industry that makes it such an attractive proposition for both emerging franchisors and potential franchisees?
In one of our previous blog posts ‘Top 10 Reasons Why a Coding Franchise is a Wise Investment,’ we touched a little on the strong long term growth potential of franchises that help children learn to code.
But in this blog post, we will explore the reasons why.
The Correlation between Unemployment and Franchising
The fallout of the financial crisis of 2008 significantly shaped the modern world of franchising. The rise in unemployment led to a boom in franchising never before seen in the industry.
Franchising and unemployment are positively correlated. When there’s a rise in unemployment rates, more people look to franchising as a means of “buying” a stable job.
And the franchising industry was well-positioned to take advantage of the financial crisis and subsequent unemployment with the combination of the safety net of the franchise model with the relative stability and independence of business ownership.
This is why a report in Entrepreneur magazine deemed the educational franchise sector as ‘almost recession-proof.’ Regardless of the state of the economy, child-based educational services will always remain a top priority for families even during trying economic times because parents believe and trust in the power of education.
High Demand equals High Growth
The high demand for children education services and activities has made the industry one of the fastest-growing sectors of the economy.
A major factor in this growth is the aforementioned recession-resistance of the industry.
Even in times of financial difficulty, parents will continue to spend money on products or activities that they feel will aid their child’s learning and development or improve their general health and quality of life.
This type of business opportunity is one that lends itself perfectly to franchising, and its model is suitable for network expansion on a large scale.
A Revenue Machine
High demand and high growth usually amount to high revenues. According to IBISWorld, the educational services industry brings in roughly $1,505.8 billion in revenue.
The industry, which encompasses a wide variety of services and markets, employs more than 12 million people and is expected to expand in all areas through 2023.
An Opportunity to Reform a Broken Education System
Let’s face it, it’s widely believed that traditional schooling is based on an archaic ideology. The world is evolving at a rate in which the traditional education system is just not moving fast enough to keep with or even catch up to.
In our last blog post, we made mention of this and detailed how investing in a kids coding franchise can help create the next generation of inventors.
Investing in a child education franchise provides a great opportunity to contribute to a more modern and effective way of learning – a much more conducive way to nurture future innovators.
The Montessori Method of Education, famous for enabling self-directed and collaborative learning rather than dictatorial, is proving to be more effective in fostering ‘world changers' than the taditional method that has become archaic.
Several franchisees were inspired to own their child education franchise from the shortcomings in the public education systems. And chances are several more will use their investment in a kids learn to code franchise as a tool to help reform the current educational system.
The Lure of having Flexibility and Independence
A child education franchise is an attractive business proposition for anyone seeking a flexible business that they can grow around family commitments.
When you become a franchisee, you will become an entrepreneur, which means you’ll be working for yourself.
The idea of becoming your own boss is becoming more and more attractive in this era and understandably so. It’s pretty empowering – the list of advantages is quite long.
Having an opportunity of being in control of your own destiny while making more money living a more flexible lifestyle is getting more and more alluring for prospective franchisees.
A Natural Renewable Customer base and a Shift in the Age Demographic
The children education industry is also a sector where there’s no shortage of potential customers.
Data from the U.S. Census Bureau indicates that children under the age of 18 represent about 23 percent of the total U.S. population.
According to the Forum on Child and Family Statistics, that demographic is expected to grow to 75 million by 2025, and to 76 million by 2029.
The numbers prove it loud and clear that child-related education franchises can look forward to long-term growth due to a naturally renewable customer base and a positive shift in the age demographic.
Working with children to aid their learning and development is one of the most rewarding types of franchises to own. Prospective franchisees are guaranteed the advantage of a tested, pre-existing educational system. Plus, the brand name and positive reputation have already been established.
The list of advantages is long. But for most, the most alluring is its tremendous growth potential.