If you’re thinking about buying or starting your own franchise, your biggest decision might be deciding which industry to join. While it might seem like they’re all the same, each industry has its unique challenges and rewards—as well as its own best franchises. Do you have kids? How much money do you have to invest? Do you want to run the business on your own or hire employees? Find out which are the best franchises for parents in each of these categories, along with what else to consider when choosing a franchise business.
It’s difficult to balance a busy career and kids, which makes buying a franchise an appealing option. Many franchises for sale have built-in support systems that can help provide you with more time and resources while reducing your stress. That’s why so many people use franchises to build a better life for their families.
When it comes to balancing work and parenting, working from home can make a big difference this is why stay at home franchises are a very popular option for parents. Though many franchises require you to work standard office hours at first, many also allow for flexibility in your schedule—and as your business grows, they’ll be more willing to adapt their time requirements. For example, if your child gets sick or you have an appointment during work hours, a good franchisor will be flexible and let you take time off without penalizing you. Because so many of these businesses are growing—rather than established corporate giants—your voice can have a huge impact on how they operate.
Tutoring franchises can be a great way to earn money while helping other people. In some cases, you can even work part-time and run your own business while being a stay-at-home parent. For example, The Tutoring Center is a franchise that’s been operating since 1985, offering tutoring services in math, science, English and other subjects to both kids and adults. If you have strong communication skills—and don’t mind fielding calls from frustrated high school students—this might be a good fit for you. Cost: $20,000 to $45,000 with royalties of up to 10 percent per month (based on sales).
In general, franchise owners tend to have a passion for whatever they’re selling. And if you love sports, owning children’s sports franchises can be a great investment—and also a way to bond with your kids over something you both enjoy. Depending on which sport your child wants to play and how much experience you already have in that sport, there are a lot of different options out there. Franchises include everything from kids’ karate lessons to hockey teams (with or without actual NHL affiliation) and soccer camps .
If you’re looking to start a business from scratch, franchising might be worth considering. Franchises come with an instant support system and can lower your risk since much of what you need has already been worked out by someone else. Still not sure if a franchise is right for you? Read on and make sure you know what’s involved in buying a franchise, how to spot potential red flags and which franchises are most appealing to parent-entrepreneurs.