Good news! Children’s franchises are continuing to grow in popularity. Here are some statistics that exemplify the success that our industry is experiencing:
- The amount of children in the U.S. is continuing to grow. According to the U.S. Census Bureau, there are over 74 million children in the United States and this number is projected to increase to roughly 80.3 million by 2030.
- The market for providing children’s services is strong. According to a 2014 FranchiseGrade report, the sector – including educational services, child day care, sports/fitness training and enrichment/arts programs – is one of the fastest growing franchise sectors in the country, growing at more than three times the average for the franchise industry since 2013.
- Spending money on children is on the rise. Parents and grandparents are spending more money to make sure their child has the best opportunities possible. Data published in May by IBISWorld indicates the $45 billion child care industry will continue to grow as disposable income increases for parents and guardians, allowing families to spend more on high-value services including early education programs.
- Families spend a lot in the summer. The New York Times estimated that American families spend over $16 billion on childcare and activities in the summer.
- The industry continues to be profitable. 75% of all children’s services franchises achieved positive net growth between 2010 and 2014, according to PR Newswire.