As More Parents Enter the Workforce, the Need for Child Care Continues to Rise
Education Franchise, Kiddie Academy, Experiencing Continuous Growth Despite Economic Downturn
October 31, 2008 // Franchising.com // BALTIMORE, - While some U.S. franchise businesses suffer due to current economic conditions, the child care industry continues to thrive. Kiddie Academy, the nation's third largest child care franchisor, has experienced steady growth during the past decade as more families are moving toward duel-income households with the need for dependable child care.
According to a study by the National Child Care Association, by 2010, nearly 85 percent of the workforce will consist of parents, and the number of working women will exceed men. Additionally, the same study estimates that the private-sector child care industry generates an estimated $60 billion in annual revenue, and that figure has been growing at a rate of approximately 10 percent since 1999.
"The fact that an increasing number of families need dual-incomes to survive is not breaking news," said Susan Wise, Chief Financial Officer for Kiddie Academy. "However, what is news is the fact that throughout the U.S. - the demand for child care services far exceeds the capacity of existing facilities," added Wise.
Kiddie Academy has targeted Dallas, Houston, Chicago, Colorado and Miami Lakes as potential growth markets due to their lack of adequate quality and educational-focused, child care facilities. Currently, the company has nearly 50 academies in development, with 20-30 new locations scheduled to open each year. The company's goal is to double in size and have 200 academies by 2012.
Unique from most other franchise businesses, Kiddie Academy operates Monday through Friday during the day and no nights or weekends. Additionally, each academy is run by a qualified director who is required by state law to have a degree in education and certification in early childhood education, allowing franchise owners more flexibility with the daily operations.
Kiddie Academy participates in the International Franchise Association's VetFran Program, which includes discounted fees for first time franchise applicants, with savings up to $25,000. The program is available to all qualified American citizens who are veterans and have been honorably discharged from the United States military.
About Kiddie Academy
Based in Abingdon, Maryland, Kiddie Academy has been a leader in child care education for more than 27 years. Kiddie Academy's proven operating system and proprietary curriculum are accredited by the Commission on International and Trans-regional Accreditation (CITA), signifying its commitment to quality education and the highest standards in child care. Kiddie Academyprovides education-based child care for children ages 6 weeks to 12 years old, including before- and after-school care and summer camp programs. There are currently 94 Kiddie Academieslocated in 20 states, including 88 franchised and six company-owned academies. Approximately 50 additional centers are in various stages of development, with 20 to 30 new locations slated to open each year. Kiddie Academy intends to reach 200 Academies by 2012, with all future growth coming via franchising.