Finding a Kid-Centric Franchise That Works For You
With so many kids franchise opportunities out there, which do you choose to invest your money on? What type of franchises are so called “recession proof” and which ones are ticking time bombs waiting to explode.
Let’s back up a bit. Chances are, if you’re looking to invest right now you have a little extra money sitting around. You earned this money, so the key to finding the right investment is taking your time and looking at what kids need and not so much what they want. When wallets tighten the first thing that goes is so called “luxury” items.
With that in mind, it may not be the smartest bet to invest in a Chuck-E-Cheese’s type “food and play” center. Not that we all don’t love pizza and video games, but would you be willing to pay for them if money was tight? Most families would limit or even eliminate extra expenditures like these.
How about parent financed stores such as Hot Topic or Claires? Kids love the newest style of t-shirts and accessories. Parents are usually willing to spend some money to keep their kids current and kids love specialties stores that help make the trends as well as follow them. At the same time, though, chain stores like Target and Wal Mart have started selling new lines that keep pace with the newest trends (Wal Mart has the new Miley Cyrus line). This might be a tossup, but because big chain stores are becoming more prevalent, and powerful, it might be best to skip over this.
So what do kids always need? Or better yet, what do children need that parents aren’t willing to either do themselves or skimp on quality. Obviously medical services are something that parents would never skimp on… but that is left best to the professionals.
How about hair? Every child needs a haircut. Sure, parents might consider or, more accurately, threaten to cut their child’s hair, but realistically most parents will leave the cutting to a professional. Parents are looking for a quality haircut at a reasonable price, as well as a place where kids will feel comfortable so they don’t get any resistance when the time to comes for the next one. This is why, if run properly, a child’s salon will always see business even when the economy is down. Sure, it’s not a sure thing or easy money, but it is something that should see a steady line of clients.
There are several child-centric salons which are currently offering franchises. Take a look and see if it is something you would be interested in. Remember, the best kids franchise is one that you fully believe in. With that in mind, take your time, follow your heart, and you’ll make the right decision.
About the Author
Author Kimberly Green has invested in a kids franchise and has had great success.