FranNet Sees Increase in Child Education Franchises
With School Budget Cuts, Parents Seek Help From Child-Focused Franchises
LOUISVILLE, KY--(Marketwire - Jul 19, 2011) - FranNet, a national franchise consulting firm that helps corporate workers transition to franchise ownership, has 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," said Jania Bailey, President of FranNet. "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," said Bailey. "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.
FranNet consultants across the U.S. and Canada have worked with new franchisees who've successfully transitioned from corporate management jobs to owning tutoring franchises. One client bought her first tutoring 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.
"Both clients are highly skilled professionals who built a business in the middle of the recession but make a difference in the lives of children," Bailey said. "You really can't underestimate the value of a child service franchise."
FBR's 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.