Small Business Articles
Is A Children's Small Business Franchise Right For You
December 05, 2008
Recently, kid-targeted businesses were recognized as a recession-resistant industry. Of course, it’s hard to nail down just what the kid industry is because its fingers reach into virtually every other market.
Whatever you define as the "kid industry," the reason that it stays vibrant in the face of recession is simple: people with kids will almost universally sacrifice their own comfort to provide for their children. One recent FOXNews article quoted Candace Corlett, president of the WSL Strategic Retail consulting firm, as saying, "some people will cut their medications before they’ll cut spending on the kids," and New York toy consultant Chris Byrne says that, even in the midst of recession, "Santa’s still gonna fly this year." Professionals agree: there is no stopping this industry.
Should You Work with Kids?
Entrepreneurs looking for their next big break would be prudent to keep children in mind as a viable business opportunity. However, as any respectable businessman, parent, or person in general would agree, the fact that there is a service to be offered and money to be made in a market is not enough reason to undertake a business endeavor, and this is especially true when it comes to kids. It takes a special brand of person to work with kids and do so well and without losing your mind. The question you have to ask yourself is whether or not you are that type of person.
Here are some more specific questions you can ask to help determine if this is the field for you, and if so, what kind of franchise business might be the best use of your talents.
1) Do You Enjoy Kids Or Just Tolerate Them?
Business owners in almost all industries agree that loving what you do is an essential ingredient to any successful franchise purchase. This is also true with children, because kids have the innate ability to know who genuinely likes them, and they gravitate toward those people. Unlike many adults, kids can’t be tricked with a façade of politeness, and parents will not pay good money to people that their kids don’t like.
2) Do You Like All Children Or Just Your Own?
Many people think they like kids in general, when in fact they just like their own. There’s obviously nothing wrong with enjoying your own children, but unless you have a natural affinity and compassion for kids in general, that will not be enough to get you through every business day.
3) Can You Take Charge?
Of course, this isn’t a question of dominance, but it is a question of governance. When working directly with kids, do you have the strength of character to define boundaries and behavior regulations and stick to them, issuing appropriate discipline when necessary? That overly nice uncle that gives in to every whim, teary eye, or scowl may be a child’s favorite, but he’s not doing his nieces and nephews any service and he’s not ready to operate a business with kids. You have to love kids, but for their own good, you also have to be the boss.
4) How Childlike Are You?
People who work with kids see the world from a slightly different perspective, and the rest of the world can see it. Many people mistake it for childishness, but being childlike is not a lack of maturity; it’s the ability to see even the most mundane aspects of life with a degree of imagination and playfulness that can turn even homework and chores into a game from time to time. The best children’s franchise owners are able to make anything and everything fun. It sounds odd, but can you think like a child?
5) Are You Willing To Work With Parents, Too?
Ultimately, the responsibility for a child’s safety, health, development, and education falls to his parents, and the vast majority of them take that seriously. You will only succeed in business, and for your kids, if you can humbly partner with their parents.
Small Business Options
There are probably a hundred different ways to answer the sum of those questions, but depending on your answers, there are a number of different franchises in the children’s sector to choose from. Below are snapshots of just a few of those.
CompuChild
The perfect home based business for fans of younger kids, this operation takes franchisees right into preschools and daycare centers to give kids a firsthand experience with cutting edge technology. All training and equipment is provided, and because franchisees supply all the teaching and tools, finding client schools is a breeze.
Guard-A-Kid
Good for entrepreneurs who care about kids but don’t want to run a daycare, Guard-A-Kid helps parents create ID packages for their children that will help expedite police recovery should the unthinkable ever happen. Working from mall kiosks, overhead costs are small while an 80% profit margin and a high degree of personal satisfaction make it all worth it.
i9 Sports
This home business has developed a fun and simple system for building children’s sports leagues in specified territories. As part of this perfect work from home business for sports enthusiasts and kids-at-heart, franchisees have fun and teach sportsmanship while administrative tasks are governed by easy-to-use software.
Kumon
Possibly the king of the tutoring industry, Kumon is the #1 tutoring franchise and the #4 overall franchise in the world. Based on the presupposition that every child has unending potential, this business has developed a tutoring system that promotes learning through constant practice, and this system benefits most from a franchisee who cares deeply about the educational success of his students.
Offering a wide variety of opportunities for different kinds of kid-friendly entrepreneurs, small business franchising has something for virtually everyone. As you learn more about what each business opportunity has to offer, consider how well your answers to the above questions match with the strengths and missions of each business you come across. Everything comes down to finding the franchise that you can benefit most from.
Recently, kid-targeted businesses were recognized as a recession-resistant industry. Of course, it’s hard to nail down just what the kid industry is because its fingers reach into virtually every other market.
Whatever you define as the "kid industry," the reason that it stays vibrant in the face of recession is simple: people with kids will almost universally sacrifice their own comfort to provide for their children. One recent FOXNews article quoted Candace Corlett, president of the WSL Strategic Retail consulting firm, as saying, "some people will cut their medications before they’ll cut spending on the kids," and New York toy consultant Chris Byrne says that, even in the midst of recession, "Santa’s still gonna fly this year." Professionals agree: there is no stopping this industry.
Should You Work with Kids?
Entrepreneurs looking for their next big break would be prudent to keep children in mind as a viable business opportunity. However, as any respectable businessman, parent, or person in general would agree, the fact that there is a service to be offered and money to be made in a market is not enough reason to undertake a business endeavor, and this is especially true when it comes to kids. It takes a special brand of person to work with kids and do so well and without losing your mind. The question you have to ask yourself is whether or not you are that type of person.
Here are some more specific questions you can ask to help determine if this is the field for you, and if so, what kind of franchise business might be the best use of your talents.
1) Do You Enjoy Kids Or Just Tolerate Them?
Business owners in almost all industries agree that loving what you do is an essential ingredient to any successful franchise purchase. This is also true with children, because kids have the innate ability to know who genuinely likes them, and they gravitate toward those people. Unlike many adults, kids can’t be tricked with a façade of politeness, and parents will not pay good money to people that their kids don’t like.
2) Do You Like All Children Or Just Your Own?
Many people think they like kids in general, when in fact they just like their own. There’s obviously nothing wrong with enjoying your own children, but unless you have a natural affinity and compassion for kids in general, that will not be enough to get you through every business day.
3) Can You Take Charge?
Of course, this isn’t a question of dominance, but it is a question of governance. When working directly with kids, do you have the strength of character to define boundaries and behavior regulations and stick to them, issuing appropriate discipline when necessary? That overly nice uncle that gives in to every whim, teary eye, or scowl may be a child’s favorite, but he’s not doing his nieces and nephews any service and he’s not ready to operate a business with kids. You have to love kids, but for their own good, you also have to be the boss.
4) How Childlike Are You?
People who work with kids see the world from a slightly different perspective, and the rest of the world can see it. Many people mistake it for childishness, but being childlike is not a lack of maturity; it’s the ability to see even the most mundane aspects of life with a degree of imagination and playfulness that can turn even homework and chores into a game from time to time. The best children’s franchise owners are able to make anything and everything fun. It sounds odd, but can you think like a child?
5) Are You Willing To Work With Parents, Too?
Ultimately, the responsibility for a child’s safety, health, development, and education falls to his parents, and the vast majority of them take that seriously. You will only succeed in business, and for your kids, if you can humbly partner with their parents.
Small Business Options
There are probably a hundred different ways to answer the sum of those questions, but depending on your answers, there are a number of different franchises in the children’s sector to choose from. Below are snapshots of just a few of those.
CompuChild
The perfect home based business for fans of younger kids, this operation takes franchisees right into preschools and daycare centers to give kids a firsthand experience with cutting edge technology. All training and equipment is provided, and because franchisees supply all the teaching and tools, finding client schools is a breeze.
Guard-A-Kid
Good for entrepreneurs who care about kids but don’t want to run a daycare, Guard-A-Kid helps parents create ID packages for their children that will help expedite police recovery should the unthinkable ever happen. Working from mall kiosks, overhead costs are small while an 80% profit margin and a high degree of personal satisfaction make it all worth it.
i9 Sports
This home business has developed a fun and simple system for building children’s sports leagues in specified territories. As part of this perfect work from home business for sports enthusiasts and kids-at-heart, franchisees have fun and teach sportsmanship while administrative tasks are governed by easy-to-use software.
Kumon
Possibly the king of the tutoring industry, Kumon is the #1 tutoring franchise and the #4 overall franchise in the world. Based on the presupposition that every child has unending potential, this business has developed a tutoring system that promotes learning through constant practice, and this system benefits most from a franchisee who cares deeply about the educational success of his students.
Offering a wide variety of opportunities for different kinds of kid-friendly entrepreneurs, small business franchising has something for virtually everyone. As you learn more about what each business opportunity has to offer, consider how well your answers to the above questions match with the strengths and missions of each business you come across. Everything comes down to finding the franchise that you can benefit most from.
