These are great times for franchising and even greater times if you are interested in owning an early childhood education business. The stormy economic downturn propelled thousands of executives, business owners and nine-to-five professionals into an entrepreneurial mindset. Now conditions are right for them to invest their time and resources into rewarding work that pays emotional and social dividends while providing a secure financial future – often without long hours or a long commute.
Entrepreneurs are attracted to early childhood franchise opportunities like Primrose Schools for several reasons. First, it’s a business that satisfies a critical need almost everywhere – providing high-quality early education and care for children, including many whose parents work outside the home (a demographic that has grown from 40 percent in the 1960s to more than 60 percent today).
Primrose is a relational business that provides Franchise Owners with the daily satisfaction of seeing children learn, explore and grow while their parents become more confident in their own skills. This personal element resonates deeply with our Franchise Owners, 70 percent of whom joined us after enrolling their children in our schools, working in our schools or being associated with our brand through a family connection. Word-of-mouth and personal experience with Primrose is our strongest business generator.
At the same time, entrepreneurs are becoming increasingly motivated to pursue opportunities within early childhood education, knowing that they will be actively investing in the future of their communities by ensuring a solid educational foundation for the next generation. Studies have shown that access to quality early education is critical for later success in life and it’s now even a priority for the White House, as President Obama raises public consciousness about the link between early childhood education and competitiveness in the global marketplace. Today, those in early childhood education are viewing their work on a whole new level – with the goal of ensuring America’s future.
I’ve spent much of my career in management and consulting, so it’s especially rewarding for me to help like-minded professionals reach their personal goals with a proven business model that is pioneering best practices in early childhood education. I’ve seen first-hand how entrepreneurs with little to no direct experience in education can successfully run a Primrose school with their passion, drive and business sense. Individuals with strong relationship-building skills and an inclination toward marketing do well with this career transition. Many career changers that get involved with early childhood franchising also team up with their grown children, setting the stage for a multi-generational operation.
According to Entrepreneur magazine, children’s franchises were among the top five growing franchise opportunities last year, and we’ve certainly seen that trend at Primrose Schools. Since I joined the company in 2013, we have expanded into eight more states (including six in 2014 alone), with the annual number of new franchise agreements increasing by almost 50 percent. Data published last November by research firm IBISWorld predicts that the child care franchise industry will continue to grow to $54.5 billion by 2019.
With that headwind, we are now at full sail across the country, planning for the opening of our 300th school and a total of 30 new schools in 2015. In addition, we expect to sign at least 45 new franchise agreements. We’ve targeted seven key markets for focused growth over the next few years: Chicago, Boston, Baltimore, Philadelphia, Los Angeles, San Francisco and the New York/Northern New Jersey area.
This is a golden era for early childhood education and I’m thrilled to be helping others tap into such a rewarding opportunity. It’s an investment that yields prosperity not only for the individuals who join our franchise family, but also for their communities, which will benefit for years to come.
To learn more about franchise opportunities with Primrose Schools and our recent growth, please visit http://www.primroseschools.com/about-us/press-releases/premier-preschool-franchise-opportunities-increase-entrepreneurs-company.