Making a career change and starting a new business can seem like a daunting step to take at first. But, by starting your own baby franchise, you’ll have a considerable amount of support to help you through the process. So, here’s everything you need to know to start your own baby franchise.
Running a baby franchise can be one of the most rewarding decisions you take in your professional career and maybe even your life. Whatever specific franchise you choose to get set up in, you’ll have all the satisfaction of helping young ones to learn, grow, and become more confident, all while running a profitable business for yourself.
What does a baby franchise do?
There are a number of different franchises working around babies and young children, and depending on what specific franchise you choose to work with, your day could vary greatly.
For example, you could be running a swim school franchise with Angela’s Swim School where on a daily basis you’ll be helping children learn to swim, become more confident around water - all while having fun.
Or, you could be helping teach music to young learners as a Popcat’s Music Time franchisee. Whatever franchise you choose to work with, there is a huge amount of diversity in this sector and what you do on a daily basis will be up to you.
Should you start a baby franchise?
Many subsectors within the baby and babycare industries have grown over the course of the year, and it’s looking increasingly likely that this is a sector that has been able to buck the trend of negative economic news. The baby products sector has grown 28% [Salience] throughout the pandemic period, with global growth in this sector also increasing year-on-year.
While it’s true that many baby franchises were forced to close temporarily, demand for baby products and services will always be high, so you can be sure that this is a perfect time to take part in a rewarding and growing industry.
How to start a baby franchise?
So with all this in mind, how exactly do you start your own baby franchise?
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1. Assess your options
One of the most important parts of any potential franchisee's journey is assessing the big franchises in the sector, researching which ones are a better fit, and analysing why some franchises won’t be.
Long before getting set up, this initial market research will ultimately prove to be one of the most important steps in your franchising journey. As you narrow down which franchises work better for you, you’ll also get a good idea which franchises aren’t as well suited. This means that not only will you be ready to make the perfect step in your franchising journey, you’ll have plenty of research on your competition.
When you’re analysing which franchise you want to work with, you should ask yourself the following questions:
- Am I confident enough to work in this sector?
- Am I well equipped to work with this franchise?
- Can I bring my unique skills and experience to this franchise?
- Can I afford to work with this franchise?
- Do I like how this franchise works?
- What would I change about how this franchise works?
By the end of this research, you should have a good idea which franchises will be a good option for you.
2. Identify a unique selling point
Throughout the pandemic, many businesses have been forced to embrace new ways of working. While this may have been difficult at first, these new ways of working have opened up entirely new ways of doing business and this sector is no exception.
It may not always be completely possible, but early on in the process of starting your own baby business, identify what makes your business special. How do you stand out from the crowd? What do you do better than your competitors? How will this give you an advantage?
This will make your business plan extra robust and will make you a very attractive potential franchisee.
>> Read more:
- Franchising 101: The Official Franchise Start Up Checklist (Part 1)
- Franchising 101: The Official Franchise Start Up Checklist (Part 2)
- New Year, New Career: No Better Time Than Now to Start a Franchise Today
- Franchising 101: 8 Signs You're Ready to Start a Franchise
- Starting a New Business Doesn't Always Lead to Immediate Success: Here Are 5 Ways to Change That
- It's Never Too Late to Start a New Business
3. Market your franchise
There are many different ways to develop a marketing strategy for your baby franchise. However, not all of them will be the right option for you and your business, so you’ll need to work out which strategies are right for you.
You’ll need to budget for whether you want to be running online advertisements, social media advertisements, as well as paper and leaflet adverts. Your franchisor may well have a marketing strategy of their own, which will offer you a tried and tested framework to follow in your efforts to reach your intended audience.
4. Put together a business plan
When you’re ready, you’ll need to put together all of your ideas and plans into a business plan for your future franchisor to review. This document prepares you to sign the franchise agreement – a legally binding document outlining both your commitments and those of your franchisor.
Your business plan is an opportunity for you to outline everything you know about your future business, the sector you’ll be operating in, some of the processes you’ll need to work through, how you’ll market your business, and whether you have any ideas for your future premises. You may also want to consider including:
- Financial details and projection
- An indicative pricing strategy
- An indicative inventory
- Your intended demographics
- Possible avenues for future growth
Your business plan will almost certainly change, but this is a good opportunity for you to show off your ambition and determination to succeed.
Become a baby franchisee and enjoy the rewards and profits of an exciting sector
Starting your own business is rarely a smooth process, but with the support of a franchise, you’ll have a number of competitive advantages over some of your competitors. And, most importantly, you’ll have a lot of support to help you get set up.
If you want to find out more information about working with one of the franchises mentioned above, you can click on their profiles to learn more. Or, if franchising sounds like the right opportunity for you but you’d rather explore other sectors, you can see a full list of opportunities on the UK franchise directory.
Elliott Fudge, Point Franchise ©