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Ask a parent what they want for their child a quality education will always come to the top of the list. Whether it’s additional support such as tutoring and/or supplemental education, extracurricular activities and/or sports, from pre-school to high school, parents are spending an enormous amount of money to ensure their kids excel. Why not tap into this growing business category and make a good profit from it?
Here are some stats that show the growth potential of education franchises:
- The education industry is booming. In 2020, revenues in the United States were over $77 billion
- Data from the U.S. Census Bureau indicate children under age 18 represent 23% of the total U.S. population and it’s growing. This aged group will grow to 75 million by 2025 and to 76 million by 2029.
- The potential market for child-related franchises in the education industry is 74 million students
- A report in Entrepreneur magazine identified child-related franchises in the education industry as being almost “recession-proof” because most parents try to give their children as many opportunities as possible, even when family finances are tight.
If you have a passion for education but don’t necessarily know everything involved in running a successful and profitable education business, then an education Franchise could be the perfect fit for you.
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