A child care franchise offers you the opportunity to change people lives for the better, while you make money and help families. It also offers you the chance to do what you love and become your own boss.
Franchises give you the opportunity to do all this with a business that has done it all before and knows the route to success.
Resilient Industry
It is an industry that has proven its resilience. Even in recessions, child care is a service that is required and is rarely affected by these types of issues in the long-term.
Of course, the global pandemic did affect the revenue available within child care, but in the years prior to 2020, it was an industry that was on the rise. Now that normality is returning, the child care industry is ready to bounce back yet again.
For instance, IBISWorld revealed that it regrew by almost 30 percent as lockdown restrictions were lifted throughout the United Kingdom in 2021. As more and more parents return to work, this is likely to rise even further.
What You Need to Know About the Child care Industry
Along with the above statistic, there are also several other key developments you should know about if your are considering starting your own child care franchise.
Here are some other interesting statistics about the current state of the child care industry in the United Kingdom.
- Parents pay four percent more for children under two and five percent more for children aged two in 2021 than they did in 2020, according to Coram Family and Childcare’s 21st annual Childcare Survey.
- The same survey showed that less than one in four local areas in England have enough child care for 12-to-14-year-olds.
- There are also child care shortages around the country for parents who work atypical hours and for disabled children.
- Depending on where you are based, the price people pay for child care is different. For instance, inner London is 57 percent higher than the lowest costs seen in Wales.
- IBISWorld predicts a strong five-year period for the child day centres industry. It stated: “The industry is expected to recover over the next five year as the economic conditions improve following the COVID-19 (coronavirus) pandemic. Employment levels are expected to rise over the next five years, stimulating demand for industry services and contributing towards revenue growth over the period.”
- The same source lists the child care industry as being worth £2bn, with almost 18,000 businesses and employing over 160,000 people.
When choosing a child care franchise, you should choose a brand that fits in with your ethos and offers a point of difference to other brands within the industry. You should also do your research into the local child care opportunities within the area and as with starting any business, you should also seek professional advice around finances, property, etc.
Benefits of Child care Franchises
The benefits of starting a child care franchise are plentiful, so here are just a few to give you an idea of the industry.
- Resilient – It is a resilient industry and although economic factors do affect it, it does seem to bounce back. People are having children and they also go to work, so need someone to ensure their kids are looked after. That hasn’t changed and will continue to be the way it is.
- Variety – Ask anyone who works with children; it is a profession that provides you with quite a bit of variety. No two days will be the same in the child care sector and that is one of the reasons it is so popular.
- Rewarding – It is an industry where you can make a genuine difference, both for the children and their parents. In terms of franchise sector, this one has an affect on the lives of people in a way that few do. As you see the children within your care excel, you will see how much fun this work can actually be.
- Genuine opportunity to make excellent revenue in area where the services are badly needed throughout the country. Not only are you helping yourself, you are also helping your community.
Franchising Versus Independent Businesses
The reasons that people choose franchises over independent businesses are plentiful. The likes of brand recognition, which is very important in the child care sector, is a big one of these reasons. If a business has franchises spread throughout the UK, it is likely that parents will think of this brand when it comes the time to time to send their children to someone to look after them.
Another is marketing spend, which many independent businesses just can’t compete with in the early days of their entrepreneurship journey. Start-ups often have to deal with the more pressing costs associated with getting their business off the ground, such as property bills and equipment. This often leaves little spend for marketing.
Asides from this, it offers an opportunity to go out on your own without being completely alone. Franchises have people who have walked the road before and can help guide you. That is one of the amazing things about franchisees; they get the expertise of business owners who have done it before, but they also get to be their own boss and make their own decisions.
Together with this point is the fact that you are not expected to know every element of the business going straight in either. With most franchises, there is either training or people who will help you in areas that you aren’t accustomed with. You can also ask questions of franchisees who were previously in your position.
Franchises help you achieve your potential in the world of business.
The child care industry is full of opportunities right now and is ready for more enthusiastic and hard working entrepreneurs to join its ranks. If you feel like it is the right move for you, simply select a franchise you would like to hear more about, fill in your details and await contact.
It couldn't be easier! Contact any of the above franchises today and start your journey on the road to entrepreneurship with a child care franchise.