26 Aug Finding Child Care Sector Franchise Opportunities
An estimated profit of $495 million for the year 2014-2015 and a 9.2 percent growth rate per year (as reported by IBISWorld statistics) – that’s how much the child care industry in Australia is expanding.
But what does this mean for franchisors?
Child Care Franchise Opportunities
There’s a great opportunity for franchising your business with this current trend in the child care industry. As more families now have both parents working full time, and grandparents living too far to help, the need for child care has significantly increased. Plus, with government support like the Child Care Rebate (CCR) and the Child Care Benefit (CCB), families are more convinced to get child care services.
Franchisors can take advantage of this opportunity. You can be the business that offers this service and meets this demand for child care in your area. Then by franchising, it will be easy for you to expand as the demand is expected to increase every year.
Learning from a Successful Franchisor
One franchisor that took advantage of this opportunity is Sherpa Kids. They provide an Out of School Hours Care (OSHC) program for school-aged children so parents don’t have to worry about their kids’ welfare after school hours. Starting in New Zealand and Australia, it now has franchises in five continents including sites in Canada, England and the Middle East.
The secret to the franchise’s success, though, is more than just meeting the existing demand in the market for child care. They ensure that each of their sites is the best OSHC provider who can answer to the needs of a specific area.
To make this happen, first they do an extensive and rigorous screening to ensure franchisees are the exact match for a community. And second, they make their operations manual flexible so franchisees, with the knowledge of the franchisor, can tailor their services to meet the specific demands of an area.
Sherpa Kids and its OSHC program is just one slice of the pie. There are still various types of child care services that can be tapped into and that could be a potential for child care franchise, including long day care, family day care, and home-based care. And with the increasing demand for these services, the number of child care franchise opportunities are also growing.