New York Times estimates say that American families spend more than $16 billion during the summer alone on their children. On top of that, according to the U.S. Census Bureau, there are currently 74 million kids in the United States, and that number is expected to approach 80 million by 2030. As a result, entrepreneurs who are looking for new opportunities should think about opening kids franchises. The combination of the population growth of kids and the amount that families spend on them means that kid franchises provide some of the best small business franchise opportunities. Some of that stems from the fact that there are several different types of franchises to pursue.
Sports Camps and Facilities
Numbers compiled by Statistic Brain show that more than 35 million American kids aged 5 to 18 play organized sports every year. As a result, some of the best kids franchises are sports camps or even just facilities that let kids get together and burn off extra energy. Sports franchises can range from providing serious instruction meant to refine skills early on to fun games and even trampoline parks. Sports franchises for kids are beneficial for kids because they help them stay active and great for entrepreneurs looking for the right opportunity.
Art and Hobbies
Of course, playing sports is hardly the only thing kids like to do to keep themselves entertained. In fact, 15% of kids are reluctant to play sports at all, according to Statistic Brain. So some of the best franchises are geared towards other hobbies like arts and crafts, solving puzzles, theater, and even video games. They provide great options for kids who want to hang out with others who have the same interests.
Getting a strong education might be the most important thing for kids to do before they turn 18 and head off to college or start working as an adult. Because of that, some of the best kids franchises are geared towards helping kids succeed in school. They could feature math programs and challenges, science camps, and programs to help children learn how to read. Those franchises can prove to be just as valuable to kids as their owners.
Depending on the type of franchise, costs will vary, and the average franchise in the United States requires an investment of $250,000 before real estate costs. However, many kids franchises are much less expensive and are great for both parents looking to find productive ways for kids to spend their free time and individuals looking to satisfy their entrepreneurial spirit. Helpful info also found here.