Franchise industry sources have seen a sharp increase in openings of new child education franchises.
Child-focused franchises that specialize in extracurricular offerings such as computer classes, tutoring art instruction and physical activities, including karate, are hot and getting hotter, according to sources. In 2008 and 2009, home health care franchises were the most popular and in late 2010 and throughout 2011, child service franchises have become our most popular.
This sector has emerged as a success story of the post-recession economy, a trend the Franchise Business Review documented in a recent research report.
Parents will do whatever it takes to make sure their children succeed. With cuts to extracurricular programs, parents are searching for alternatives to enrich their children’s time after school,” sources indicated . More than ever parents want to give their children an academic leg up, and that often means additional tutoring.
Many franchise opportunities within this sector offer flexible working hours, good return on investment, an opportunity for local community involvement and a rewarding experience for operators who enjoy spending time with children, the FBR report says.
As a consultant, I have worked with new franchisees who’ve successfully transitioned from corporate management jobs to owning tutoring franchises . One franchisee bought her first franchise in December 2009 and quickly added a second territory. Now, one of the franchisor’s top achievers, she’s eyeing two more territories. Another client liked a child services franchise so much he bought three territories at once.
Franchise industry sources’ research also found happy franchisees, with an overall satisfaction level 5 percent higher than all other sectors. Sixty-one percent of franchisees work less than 40 hours per week; 39 percent work less than 30 hours.
Lee Thomas, Franchise Paths to Success