Businesses that serve kids tend to have considerable growth potential, but they also come with challenges not prevalent in other markets. So before you dive into this type of business opportunity, let’s talk about some of the difficulties you may face when serving kids so you can know what to expect.
It’s a Trust Game
Earning customers in any business that serves children is all about trust. Parents want to know that they can trust your company always to have their kid’s safety and security in mind. Fortunately, this is where the power of franchising can play a significant role in your success. Rather than starting a new brand that no one has heard of, you’ll be leveraging the power of a brand that already exists and already serves kids in other locations. That’s going to help you gain authority and name recognition, and it should dramatically reduce the challenge of gaining trust in the early stages.
Striking the Right Marketing Balance
When marketing a business for kids, you must think about how you present the material and who you are presenting it to. Kids will get excited about certain things they see, but the parents have the money. So it might be necessary to develop a two-sided marketing approach to present one set of ads to the kids and one set to the parents.
The Right Hours
When should you be open to drawing the biggest crowds while minimizing overhead simultaneously? Figuring this out will involve some trial and error, but it will also require getting familiar with the local school schedules to see when school gets out when the kids have breaks, and more. You want to be open as much as possible to serve your market while not staying open when kids essentially won’t be able to come.