When it comes to starting a business, you want to choose an industry that is in high demand and that will continue to be for years to come. Budding entrepreneurs continue to discover profitable family-oriented business opportunities because of the increasing spending habits of parents in the U.S. and industry data that point to promising success for children’s businesses.
Children’s Services That Never Go Out of Style
Parents are familiar with the saying, ‘it takes a village!’ So it is no secret that businesses that cater to children’s services and provide reliable solutions to parents will always be in demand.
Pigtails & Crewcuts offers services that parents rely on. The hair care industry is growing, with parents spending over $5 billion per year on hair care for their kids!
When you combine that with the fact that there are over 46 million kids, 12 years old and under, in the U.S. who get an average of seven haircuts per year, that’s some serious profitability.
Kids and parents also love immersive experiences, so children’s businesses with many different “moving parts” will often succeed the most. For Pigtails & Crewcuts, hair care is just the tip of the iceberg. There are also other revenue streams to take into account, like birthday parties, retail, nail polish, ear piercings, mom and dad haircuts, and more.
Millennials Are Spending More on Their Kids
One of the reasons that children’s businesses, like Pigtails & Crewcuts, are growing so rapidly is because millennials make up the majority of new parents in the U.S. and they like to spend money on their kids!
Millennials are fueling consumer trends in many markets, with the most notable one being an increased focus on customer experience. Leading the entire marketplace, millennials have plenty of spending power and prefer to spend it on memorable experiences rather than products alone.
Many hair salons will cut your kids’ hair, but the truth of the matter is: most kids don’t exactly like getting their haircut, at least not at traditional salons. Pigtails & Crewcuts knows that if they can make the experience fun for kids, not only will they look forward to it, but parents everywhere will be delighted at how much easier the process becomes.
Most of the Pigtails & Crewcuts franchisees and stylists are parents themselves, so they know how to interact with kids and make them comfortable. With fun, themed car chairs, bright-colored walls, hair accessories, toys, treats and exciting movies, kids are having so much fun that they may not even notice their “new ‘do” until it’s time to show it off!
Opening a Children’s Franchise
Overall, opening a children’s business, especially in a thriving industry, is both a smart and rewarding investment. Your services will always be in demand, parents are more willing than ever to spend money on their kids, and you’d provide a fun-filled experience that helps kids look great and feel great.
