When searching for a lucrative business such as a kids entertainment franchise, it can be challenging to find the right option that suits your needs. We’ve researched viable options to help narrow down your quest for successful endeavors and fulfill your dreams of owning your own child-focused business. Here are three child-focused business ideas with the best profit potential for entrepreneurs.
Types of kid-focused businesses available to open today
When it comes to child-focused business ideas, the top three that come to mind include sports, education, and entertainment.
For example, one option is opening your own swim school. According to the FDD (Franchise Disclosure Document) for Goldfish Swim School Franchise, for each franchise open 12 months or longer, on average you could make $1.7 million a year. However, operating expenses could average out to be around $1 million. Owning your own swim school is beneficial beyond the profits you might earn. You would not only be making money, but you could be shaping the lives of many children in the process. This option requires a lot of work and a multitude of steps to be successful.
Another option to open your own child-focused business today would be a daycare service. There is always a need for childcare. However, when it comes to the best profit potential, it is under par. Reports suggest the average profit for a daycare center is $37,000. Compile the profit with the lack of resources currently available such as caregivers this could be a challenging option.
The third option for a child-focused business you could open right now is a kids entertainment franchise. Launch Entertainment has pioneered a different kind of family entertainment experience with a wide variety of attractions and amenities for all ages including XP Arena, ninja course, laser tag, bowling, trampolines, Krave Restaurant & Bar Hops beverage service, and more. This viable option gives families with children of all ages a unique experience with an endless supply of activities to choose from. When selecting a business opportunity that will help secure a legacy for your family, this type of child-focused endeavor evolves with the times and has great profit potential.
Reasons why the kid-focused niche is popular
According to latest United States Census Bureau data, there are more than 73 million children in the U.S., making up 22% of our nation’s population.
In addition to the number of children there are across the country, parents love spending money on their kids. From clothing to toys, activities, family outings, school supplies, the latest fads and more, child-focused business ideas are potentially highly profitable.
Kid-focused companies not only provide entertainment and a way to stimulate young growing minds, they also have the potential to help shape the next generation. Providing children with various outlets such as a kids entertainment center can help develop their social skills, spark creativity, develop a specific passion and an overall sense of community.
Different ways parents love to invest in their children
According to the U.S. Department of Agriculture, the average family spends between $12,000-$14,000 on their child a year.
Parents spend money on their kids in a variety of ways. For some it’s all about education and investing in their future. Many parents begin a savings account for college and provide access to tutors when needed to keep their kids on track. Having your own child-focused business ideas and goals can help provide the financial stability needed to afford an investment like this and in turn build a legacy for your family.
Other ways parents love to invest in their children is by supporting their interests and dreams like dancing or playing sports. Some parents provide a physical activity as an outlet to help their children grow in a team-oriented atmosphere.
Many parents enjoy investing in the image of their children, such as the clothing they wear to school, family events, church, or practice. Aside from retail, families love to invest in fun activities for their kids like going to amusement parks, recreational parks, family entertainment centers, the movies, and other leisure pursuits.
How profitable is the kid-focused entertainment industry?
A family-focused entertainment franchise like Launch is a relatively new and rapidly growing industry with thrilling prospects. The global trampoline park market is projected to grow at an above-average, healthy compound annual growth rate (CAGR) of 17.2% from 2021 to 2030, according to recent market research.
According to a 2021 industry report, family entertainment centers, including trampoline parks, generated $18.9 billion in 2017, and the industry is expected to grow to $40.8 billion by 2025.
Range of investment costs
Startup costs for opening a family entertainment franchise varies depending on the brand and amenities.
To open a Launch Entertainment franchise, the initial cost is between $1,874,900 and $4,461,000, with a franchise fee of $50,000. Eligible candidates need a minimum liquidity of $600,000 and a minimum net worth of $1 million.
Ongoing costs include a 6% royalty fee and a 1% ad royalty fee.
Why owning a Launch Entertainment franchise makes sense
Launch Entertainment is a service-based, high-margin business model that drives repeat business by providing customers with an unrivaled, innovative experience. Owning a family entertainment franchise is more than just a lucrative opportunity, it’s also rewarding. Launch offers families a chance to create lifelong memories in a space filled with endless amenities for all ages to enjoy.
When investing in an opportunity like Launch, you are not alone. Franchisees are treated like family and provided with continuous support from a community of entrepreneurs who share the same values and goals of success.
To learn about the benefits of owning a Launch Entertainment trampoline park franchise, please fill out this form and one of our franchise development representatives will be in touch.