The Spotlight: Children's Franchises in Canada
Most parents want their kids to have safe, healthy and happy lives, and this priority also makes for franchise opportunities in many forms. The Canadian children services franchise sector is vast, crossing into industry categories that generate billions each year and providing franchisees a way to be successful and make real differences in children's lives at the same time. Before you delve into your Canadian franchise search, take a quick look at some of the main areas in this massive sector.
Daycare is probably the child's service most people think of first, and it generally is in high demand. Research firm IBIS World reports that this Canadian industry generates about $8 billion every year and has grown by four percent each year over the last five years (https://www.ibisworld.ca/industry/day-care.html). Daycare franchises come in many forms, from brands that specialize in specific services, such as fostering art skills, to ones that focus on building relationships with parents and offering various services.
Supplemental educational services in Canada are on the rise, and the Financial Post reports this industry is worth around $1 billion dollars annually (http://business.financialpost.com/personal-finance/young-money/get-ready-to-fork-over-1-billion-canada-school-is-back-and-so-is-tutoring). The diversity in the education franchise market is vast, from technology and science to reading, music and art. Brands in this category also have differences in setup, as some require physical locations while others send tutors to the child's home.
You'll find children services brands in everything from fitness, party planning, party equipment and photography to toys, hair cutting and even salons. In many cases, if there is an adult version, there's probably at least one matching brand out there that caters to kids.
What to consider
Naturally, you should enjoy working with kids if you're planning on entering a children's service franchise in Canada. This area also brings a lot of scrutiny. so you need to be prepared for you and your staff to go through background checks and other checks to ensure safety. Depending on where you are and what industry you're entering, you may need licenses or certifications to do business. The cost of a children's service franchise will vary widely; some will require special licenses and physical locations while others are mobile or home-based and have fewer upfront costs.
Do your homework when it comes to the Canadian child franchise you're considering. With so much on the line, you will want to be as sure as possible that you've chosen the right brand and market sector for your new business.