The multigenerational U.S. workforce is leading to significant shifts in the alignment between work and family and at the top of this list is childcare. Gen Z has entered the workforce and are now starting their own families which is leading to changes in the expectations of traditional business models, work schedules and overall childcare trends.
Families with both parents working outside the home – across all three of the younger generations – are at an all-time high, increasing the demand for childcare. And while childcare demand is expanding, childcare providers has decreased by an estimated 30%.
2020 Childcare Franchise Trends
Because of both the increasing demand for childcare and the favorable economic forecast, now is an excellent time to invest in an early education franchise. Per-child spending has doubled since the 1970s, and the average American household currently spends one-tenth of their income on childcare expenses. Combining average expenditures on childcare with the advanced age of first-time parents (26 for mothers and 31 for fathers) means that today’s parents are more informed, more particular and have higher expectations than ever. Providers must adapt to the changing needs of childcare franchises.
Building Kidz is not only prepared to meet those expectations, but we also pledge to exceed them. “Accessible, affordable and high-quality childcare can drive positive economic development to a community and provide an invaluable service to local families,” says Sanjay Gehani, Partner and Chief Marketing Officer of Building Kidz Worldwide. Each dollar invested in early childhood education returns more than 800% of that initial outlay, benefitting state and federal governments by decreasing spending on social welfare programs and increasing average individual lifetime earnings.
There is tremendous opportunity to change the lives of generations with the simple act of providing a nurturing and engaging environment for children 0-5 years. Our franchisees share the vision that we can change the lives of children around the world by opening a local Building Kidz School.
It’s also easier than ever to start a business, with the added benefit of lower risk by starting a business within an established franchise system. Franchising is more secure and more flexible than starting your own business from scratch. The robust economy and positive futures outlook facilitate financing—interest rates are low, and business loans are relatively easy to obtain.
We’re proud of our franchise system, especially the way we collaborate with potential franchisees from day one. We build emotional connections with our partners, sharing a passion for early childhood education and a calling to improve the future by investing in the preschool experience of children globally. Several of our franchisees joined our system because of the benefits their own children gained through their time at existing Building Kidz campuses.
The Building Kidz Mission and Vision
“To meet the exacting demands of today’s parents, we have implemented a brand-new, progressive curriculum that integrates performing arts education into every aspect of the school day,” shares Building Kidz founder, Vineeta Bhandari. “We also incorporate innovative security technologies into the design of each of our facilities and include age-appropriate learning devices at every stage of development.”
Furthermore, Gen Z and Millennials are the most socially conscious demographic groups in American history. By opening a preschool with Building Kidz, franchisees are part of a corporation that gives 25% of its profits back to underprivileged children globally. Our franchisees’ success empowers the nonprofit arm of Building Kidz Worldwide to support organizations such as Sai Dham and Mano Vikas in India, the Tanzanian Children’s Fund in Africa, and the Juvenile Diabetes Research Fund, Jean Weingarten Peninsula Oral School for the Deaf and the Pacifica School District in the United States.
While the financial means to start a franchise are essential, the shared values and commitment to excellence our franchisees demonstrate are even more vital. Please visit our website to learn more about our exciting franchise opportunities within one of the most rewarding industries to own a business.