Starting a business is an exciting adventure, but you need to do your due diligence to make sure you’re setting yourself up for success. We think it’s a great time to consider a Kiddie Academy® franchise and here are some facts to get your research off to a solid start.
It’s a great time to own a franchise
Franchises, such as Kiddie Academy® Educational Child Care, provide a path to business ownership that’s gives you a head start on success. When you purchase a franchise, you’re not reinventing the business. You’re buying into an established brand with a business system that’s been vetted and proven to work. Your franchisor is invested in your success and supports you, as do other franchisees in the network.
A report from the International Franchise Association (IFA) shows franchising is setting the pace for post-pandemic economic recovery in the U.S., with job and business growth flourishing across multiple sectors, including educational child care. Here are just a few highlights the IFA report predicts for 2022:
-More than 792,000 franchised businesses in operation by year’s end
-Net gain of 17,000 new locations
-Overall growth rate of 2.2%
Why you should consider an educational child care franchise
Much like the franchise industry, the educational child care sector within it is healthy and resilient. The sector is expected to generate $54.9 billion this year. Entrepreneur Magazine reported that the child care industry has historically fared better than others during economic downturns. They predicted a quick recovery as we emerge from the pandemic and featured Kiddie Academy Educational Child Care as one of the brands to lead the recovery.
Entrepreneur contends that child care fulfils an important need in the community, not only helping care for and educate children, but also providing continuity for other businesses. The story says, “For essential workers who couldn’t stay home with their little ones, child care businesses proved even more vital than ever… And those parents who could stay home have likely gained a new appreciation for the work these businesses do to educate and care for their kids. As the economy opens back up and more parents head back to the office, this category should only keep growing.”
Determining which child care franchise is right for you
We’re proud to point out that NerdWallet ranked our company as the eighth-best franchise opportunity – out of all franchises – for 2022. However, we understand you have multiple options to choose from even within our category. So, whether you’re researching us or another child care franchise, there are some important factors to consider before buying in:
–The Market – Is the geographic market growing, especially with young families? Are there enough quality child care providers available to accommodate the needs of young families? Are the existing providers up to date with their facilities, programs and services or is there room for something fresh and innovative? If your top brand is already in the market, is there room for another location?
–The Brand – What sort of reputation does the brand have locally and nationally? What is the company’s philosophy and culture? How do industry experts rank it compared to others in the sector? Check social media and online review sites to see what parents and employees have to say.
–The Franchisor – What are they doing to innovate, both in terms of what they offer students and conveniences like digital enrollment, classroom cameras and communications with parents? Sustained growth is a sign of a strong franchise company. If you meet the qualifications for franchise ownership, you should receive a Franchise Disclosure Document (FDD) from the company. This is a critically important document for your research. In addition to providing details on past financial performance, the FDD will have detailed information on the company’s history, management team and any litigation the company may be involved in.
–Training and Support – Your success will contribute to the franchisor’s success. That’s why a good franchisor will look out for your best interests and have support systems in place to help with each step on your ownership journey, including:
- Pre-Opening Support – How will they help you with financing, site selection, construction, licensing, training, marketing and operations?
- Ongoing Support – After your business opens, what types of support is offered for operations, marketing and training?
–Multi-Unit Ownership – Multi-unit ownership is a sign of owner satisfaction. Does the franchisor allow you to grow your portfolio by owning more than one location? If so, what percentage of units are owned by multi-unit owners?
More resources to help your evaluation
We’re confident that if you’re considering Kiddie Academy Educational Child Care among your options, you’ll like what you find. Here are some helpful links to information about Kiddie Academy® Educational Child Care, the child care franchising industry in general and other considerations to keep in mind as you do your research:
New report indicates franchises are leading US economic recovery – Minne Inno
10 Key Things to Consider When Evaluating a Franchise Opportunity – All Business
Evaluate a Franchise Opportunity in 10 Simple Steps – Forbes
How to Evaluate a Franchise Opportunity Properly – 1851 Franchise
What Criteria Should I Use When Evaluating a Franchise Opportunity – International Franchise Association
Kiddie Academy Franchising – Learn more about our company (leadership, philosophy, the brand, industry rankings and your journey to owning your own Academy).
