Career Woman

Why kids are a booming business

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We are now well and truly in a kid economy – a time of unprecedented growth, and opportunity in the huge number of businesses revolving around children.

Cost cutting in the education system and the normalisation of Tiger Mum syndrome (mums who push for their children to be successful) has driven a sharp rise in the number of service franchises for children like sporting, drama, music and education clinics.

According to recent US data, which Australia tracks closely, this is one of the fastest growing franchise sectors.

It’s a great industry to get into because children’s sector franchises tend to be competitively priced and have decent turnover.

Competitive edge

Research shows that parents are willing to spend their time and money giving their children every opportunity to succeed and this a major influence in the growing number of successful businesses in this field.

In Australia at least one-in-five parents are paying more than $50 a week for extra-curricular activities and the average annual cost for a typical family is $4745 a year, according a survey commissioned by Omo that questioned more than 2000 parents and children aged between five and 12.

For kids in the US, it’s pretty much the same with most parents in a Pew Research Centre study saying that their children participated in some extracurricular activity in the 12 months prior to the study – with parents’ incomeand education linked to the amount of activities. [http://www.pewsocialtrends.org/2015/12/17/5-childrens-extracurricular-activities/]

Parents are also more focused on their children’s day-to-day activities than ever before – a generation ago it was common for kids to roam around and find their own adventures, today almost every part of a child’s day is scheduled.

Education budget cuts

Cuts in education funding as well as changing curriculums have meant the scaling back of many science, art, sport, music and drama programs at schools.

A growing tide of parents want to give their children the best possible start in life and they aren’t willing to leave that to the system, so they are looking outside of school to supplement their children’s development.

From early education franchises, aimed at harnessing a child’s potential before they start school to STEM enrichment programs and a wide range of sport, art, yoga, music and indoor play, the industry is catering to the needs of parents.

We offer a school readiness through sport program, which has franchises opportunities in Australia as well as 15 countries around the world. The results are fantastic and our kids develop the skills they need to succeed in school – and life.

Interestingly we think of ourselves as a real sporting nation, but we are far from it with a new study ranking Aussie kids among the least active in the world, coming 21st out of 38 countries assessed. [http://journals.humankinetics.com/doi/10.1123/jpah.2016-0641]

Career change

Many teachers and parentsare opening children’s service franchises because they are looking for a career change that allows them to continue working with children but to enjoy more flexible conditions and the opportunity to become their own boss.

Getting into a franchise is also seen as the less risky way to transition into a new industry.

Because of this many ex-education industry workers, whobuy into our franchise fit this profile and tend to hit the ground running because their skills marry up.

We also see a lot of businesswomen and entrepreneurs starting successful businesses in this sector with no teaching experience – it’s definitely not a pre-requisite though.

The best advice I can offer is look for a business that you are have a common interest in, this will give you the best chance of having job satisfaction as well as a successful business.

About Tammy Ceppi

Before bringing Playball [www.playball.com.au] to Australia, nearly two decades ago, Tammy Ceppi qualified as a teacher. Like many in her industry, she wanted to do something different with her skills and with a keen interest in sports and a love of young children, Playball highly appealed as it uses sport as a tool to develop life skills and school readiness in children aged two to eight years old. Playball is an international program taught in over 15 countries around the world.

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