While Some Companies Feel the Pinch of a Troubled Economy, for Some Very Unexpected Firms, It means Reaping Record Sales
August 29, 2008 // Franchising.com // Minneapolis, MN: For once this story is NOT about the big oil companies getting richer. College Nannies & Tutors of Wayzata, Minnesota, a national franchise chain of Nanny Placement and Tutoring Centers is seeing record sales this quarter. While other companies, especially Real Estate firms, auto sales, the retail trade and the restaurant industry are feeling one of the biggest economic pinches in recent history, some companies are taking advantage of this downturn to leverage it into significant sales growth. One such company is College Nannies & Tutors of Wayzata, Minnesota. This unlikely company is on a super sales up tick and for a very good reason. As the economy slows down two things are occurring; more families are going back to the double income status quo. While either mom or dad had dropped out of the workforce over the last decade to manage the kids and house, these same parents are now picking up the part-time job or with the kids back from camp and back in school, they are going back to full-time employment to make ends meet or be assured of job security if the other spouse gets laid-off. The other double-edged aspect of this troubled economy is schools are terminating experienced teachers and doing so in droves. Class sizes are growing and in many communities class sizes have expanded by 50%. Teachers with former class sizes of 17 students a few years ago are now managing 30 to 40 students. Where children formerly received individual attention for help with learning and understanding problems or for college prep support they now get lost in a crowed classroom. Parents are not shy about helping and advocating for their children, they want to be sure they don't fail and many are making sure their children still can get into the college of their choice and they are doing this with their pocketbooks; When once they went on expensive summer and winter vacations, they are now opting for daughter Mary's college prep tutoring classes.
In an interview with the company president on the subject of Nannies: Joe Keeley, President of College Nannies & Tutors said: "We are seeing more parents hire nannies rather than put their children into daycare. They are doing this to meet flexible working schedules and do so economically. They want their children at home this summer and coming year, in a safe, developmental and caring environment". Parents have come to enjoy having the convenience and security of having the kids at home, they have no intention of either putting them into crowded centers and they want them to feel as comfortable as if they were still caring for them. On Tutoring Mr. Keeley states: "Many of the countries schools are in crisis, we have turned education back to the parents and the parents know this. Many parents are taking on part-time and second jobs and they can no longer spend time with their children on homework and problem solving, they are looking for quality one-on-one tutoring to fill in the gaps. One thing I can tell you is parents are willing to spend what it takes to keep their children from failing as it makes life at home a whole lot easier and a whole lot less stressful". "We are seeing growth unlike anything we anticipated with this economy. Our first centers are achieving record sales and our newer franchisees are also seeing a lot of the benefits from this downturn. Not all that is bad for this economy has been bad for us, if gas prices and energy prices continue to climb we are predicting even better revenues."
About College Nannies & Tutors
College Nannies & Tutors is a national franchise company that focuses on Building Stronger Families™ by providing customized nanny and tutoring services to families independently and through corporate clients. With locations on both coasts and in the Midwest, College Nannies & Tutors is the nation's largest resource for nannies and tutors. More information can be found at www.collegenannies.com and www.collegetutors.com