Profiting From The Most Lucrative Franchising Opportunity In America Today
Franchising is one of the fastest growing areas of the modern business world. For young entrepreneurs franchising presents an ideal opportunity to get started in business simply because you don’t have to start from scratch. Aspiring entrepreneurs simply need to choose an existing brand, then expand it and refashion it with a new spin of their own devising. They will be following a business model that has been proven to be phenomenally successful in America today. Among the franchising opportunities that are available today, few of them are as popular and youthful as that of the market for children, whether it is toys, games, clothing, education or any other field that caters to the kids’ market. Toy stores and other franchises geared toward the younger generation are rapidly establishing themselves at the very top of the business franchising market in today’s world. Perhaps it is because today’s young businessmen are not so far removed being kids themselves. Many enjoy playing computer or television games that children also enjoy, and many a businessman can remember what children of all ages like to play with and what is likely to appeal. Whatever the reason, the fact cannot be denied that the kid’s market sees a massive turnover that the wise businessman would do well to pay attention to.
More than at any time in the past many of today’s kids are in control of their parents’ income; it is this that makes the kid’s market so valuable in today’s business world. It was not so one or two decades ago, but today Americans spend more than 100 billion dollars per annum on what they perceive to be their children’s needs, let alone their wants. With this kind of money sloshing through the economy it is not to be wondered at that the kids’ market is booming. Moreover, the amount of money spent on children’s goods is only going to grow in the coming years, far ahead of the rate of inflation, according to industry experts.
One of the chief causes for the rapid growth in this market might be attributable to the steep decline in families with only one “bread-winner” who earns a “family wage”. While this trend has been deplored by some more conservative family experts, the fact remains that many families are now supported by two working parents who have to juggle the twin responsibilities of career and children instead of devoting themselves to one or the other. The result is that while there is more expendable income passing through the family budget, there is also less time for parents to spend with their children. This means that children are often forced to entertain themselves while parents seek to make up for time away from the family by spending more for their children, and this of course leads to greater amounts of spending on toys, books and kid’s fashion.
With both parents working, huge opportunities have opened up in markets such as day care provision and extra-curricular activities for young children. This, together with the increased spending on kids’ entertainment and necessities, has created a wide open world of franchise possibilities. The juvenile market should not be ignored by anyone wishing to enter an industry with unlimited growth potential. If you are someone who wants to go into business for yourself but aren’t sure what market to focus on, you could hardly do better than focus on developing a business or service for the kids market. Kids grow up quickly, but the kids market is certainly not going to disappear, so investing in it could provide you and your family with a profitable business with massive future potential.