Whether parents are looking for affordable gently used children’s goods or are hoping to support local businesses and promote sustainability through their purchases, resale franchises present the perfect solution for savvy shoppers and entrepreneurs alike.
Here’s more on how to tell if your community needs a Once Upon A Child®, as well as the benefits you can bring to your community by opening up a children’s resale concept in the area.
Assessing Local Demand for a Children’s Resale Franchise
The long-term viability of any business concept, particularly small businesses and franchises, largely depends on local market demand. Because Once Upon A Child’s primary customer profiles include parents and grandparents of young children, it’s important to ensure there are a good number of families in your market.
There are nearly 84 million families in the U.S., accounting for more than 25 percent of the total population. While there is abundant nationwide demand for children’s resale concepts, taking an accurate pulse on your specific market is crucial when assessing the feasibility of the concept.
This is particularly true since certain areas are significantly more concentrated with families than others. For the most part, families are drawn to areas that have strong school districts. The number of schools and quality of school districts within your community can be a strong indicator of local demand for your children’s resale concept.
Affordability and Cash Value Create a Unique Opportunity for Parents
The average cost of raising a child in the U.S. continues to climb, now topping $230,000 before a child reaches age 18. Parents spend a substantial amount of money each year on new clothes for their children, as well as sports gear, instruments and other extracurricular equipment that gets quickly outgrown or worn out.
Consequently, there is often a strong demand for affordable children’s clothing and other goods in any community with young families. Not only do children’s resale stores provide parents with gently used items at up to 70 percent off retail prices, but they also provide an avenue for parents to sell their gently used items. Whereas thrift stores and other resale shops often only offer store credit as compensation, Once Upon A Child offers parents the value-add of receiving cash on the spot for each item they sell.
An Ethical Business with Economic and Environmental Value
In addition to affordability, local resale franchises also provide parents with an alternative to traditional retail apparel businesses that they can feel good about supporting.
Increasingly, consumers favor locally owned businesses over big-box stores, as they realize the many advantages that come with supporting local businesses from an economic standpoint. Local businesses account for 60 to 80 percent of U.S. jobs, so finding ways to support businesses that increase local employment opportunities is a worthy goal for many shoppers.
By supporting local resale franchises, shoppers are able to save money on their purchases and put that money back into the community. Sixty-eight dollars out of every $100 stays in the community when parents choose to shop local, and local sales tax accounts for 10 percent of city revenue. This money goes toward employee wages, donations and community outreach and taxes that support schools, parks and public works projects.
At the same time, many parents also appreciate the inherent environmental value and purpose resale shops serve. By buying and reselling their gently used goods at local resale shops, parents are able to single-handedly extend each product’s lifespan and keep hundreds of items from piling up in landfills. This becomes even more important when it comes to children’s clothing and other goods, which are often outgrown within a matter of months.
In any community that values ethical businesses with environmental and economic value, Once Upon A Child and other local resale stores are positioned for strong demand and long-term success.
Are you ready to become part of the rapidly growing resale franchise industry? Contact us today to learn more about Winmark resale franchise opportunities.