How To Open A Childrens Franchise In This Economy
With the economy the way it is, some people might say you would be absolutely crazy to try and purchase a shop from a childrens franchise right now. The news has been satirized with stories of franchises getting decimated and shops closing almost as quickly as they open; but childrens franchises? Havent we heard that parents are cutting back to bare bones? What parent is going to spend extra money on a childrens service when they can barely pay rent?
The thing that some people tend to forget about a childrens franchise is that it doesnt necessarily have to about spending extra money on an expense. No one is telling you to purchase a franchise that sells nothing but designer pacifiers- that would not be a good purchase. Instead, childrens franchises can be about stuff that parents do need, like haircuts, or affordable clothes at reasonable prices. Not all franchises are about excess and as long as you offer a good product at an affordable price. With this and some good advertising your franchise should be able to survive any economic downturn.
While parents will sometimes look to save money by not paying for services that they can now do themselves (think lawn mowing, pool cleaning, etc.), there are a few things where the risk is sometimes not worth the reward. A prime example of this is a childs haircut. If parents can find an affordable place that their kids actually want to get their hair cut, they will be willing to spend the money instead of risking messing up their childrens hair. If you can find a franchise that offers a proven track record of repeat customers in the kids haircutting business then jump on it. You still have to do some intense advertising to make sure people still come, but with a proven name that parents trust and kids love this is not that bad of a risk.
Clothing might be a tougher inroad then something such as haircutting. There are two types of clothing stores: designer and discount. Unfortunately, since most big box stores sell clothing at a discount there is not a huge market for new discount clothing franchises (and if youve looked around lately, there arent many trying). Designer children clothing franchises can succeed, but arent really that great of a bet considering how thin of a line you have to walk to make a profit. If you are going to go the designer clothing route with a franchise make sure its with someone who has already established a name for themselves. Also, make sure youre in a well off neighborhood where there might be a little extra money to burn. Another thing: designer baby clothes are a good bet, there are just too many of them. Make sure youre the only one in an area and make sure its a busy location.
There is no such thing as a sure thing in this economy, but as long as you take some care youll be able to open some sort of childrens franchise with ease, and more important, keep it open.
The thing that some people tend to forget about a childrens franchise is that it doesnt necessarily have to about spending extra money on an expense. No one is telling you to purchase a franchise that sells nothing but designer pacifiers- that would not be a good purchase. Instead, childrens franchises can be about stuff that parents do need, like haircuts, or affordable clothes at reasonable prices. Not all franchises are about excess and as long as you offer a good product at an affordable price. With this and some good advertising your franchise should be able to survive any economic downturn.
While parents will sometimes look to save money by not paying for services that they can now do themselves (think lawn mowing, pool cleaning, etc.), there are a few things where the risk is sometimes not worth the reward. A prime example of this is a childs haircut. If parents can find an affordable place that their kids actually want to get their hair cut, they will be willing to spend the money instead of risking messing up their childrens hair. If you can find a franchise that offers a proven track record of repeat customers in the kids haircutting business then jump on it. You still have to do some intense advertising to make sure people still come, but with a proven name that parents trust and kids love this is not that bad of a risk.
Clothing might be a tougher inroad then something such as haircutting. There are two types of clothing stores: designer and discount. Unfortunately, since most big box stores sell clothing at a discount there is not a huge market for new discount clothing franchises (and if youve looked around lately, there arent many trying). Designer children clothing franchises can succeed, but arent really that great of a bet considering how thin of a line you have to walk to make a profit. If you are going to go the designer clothing route with a franchise make sure its with someone who has already established a name for themselves. Also, make sure youre in a well off neighborhood where there might be a little extra money to burn. Another thing: designer baby clothes are a good bet, there are just too many of them. Make sure youre the only one in an area and make sure its a busy location.
There is no such thing as a sure thing in this economy, but as long as you take some care youll be able to open some sort of childrens franchise with ease, and more important, keep it open.
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