You've no doubt heard the saying, "Never combine business with pleasure." Whoever said that wasn't thinking about the fact that people need to be entertained. No matter how busy we get, we all need to invest in recreational activities and entertainment of some kind. Since "entertainment" encompasses such a wide range of categories that fall under many different sub-categories, there are numerous ways you could leverage consumer need to be entertained to make a profit in the entertainment franchise business.
To understand the power of entertainment franchises, however, you need to look more closely at specific opportunities. Investing in the production of a movie franchise is one way you could choose to get into the entertainment franchise business. The potential profit is there, but that type of investment requires a great deal of money and there is a lot of risk involved. What if the movie flops? You stand to lose your initial investment. If you're an investor that doesn't mind a little risk taking, this might sound attractive to you.
For the vast majority of people looking to make a profit with an entertainment franchise, something more along the lines of party planning, DJ services, or even a catering franchise is probably a better option. These are also franchises associated with entertainment, but they are more stable than investing in a movie franchise (especially if you aren't familiar with the movie business) and certainly offer a great way to make a profit in an entertainment-related franchise.
Entertainment franchises related to art (teaching an artistic skill), party and event planning, and kids' entertainment are among the most popular and most profitable franchises in the entertainment field. Telegram services (singing, dancing telegrams, etc.) are also a good idea for a franchise business. Anything related to kids in particular offers a potential for profit. According to the National Association for the Education of Young Children, there are 73 million children under the age of 18 in the U.S. alone. They all have birthdays and parents are always looking for ways to help them celebrate. In today's fast-paced world, parents are willing to pay for a party planning service, bounce house rentals, a DJ service, or other fun stuff for kids. According to IBISWorld, "Over the past five years, the Party & Event Planners industry has grown by 3.9% to reach revenue of $5bn in 2017." As kids get older, the parties become more extravagant. While the numbers vary from one report to another, the average dollar amount parents spend on their kid's birthday parties runs somewhere between $500-$1000.
Children's parties are just one sector of the market. Weddings, adult parties, and corporate and social events are another place where party planning is big business. A franchise providing full entertainment packages for such an event (music, food and beverage, venue choice) could make a health profit. According to the Bureau of Labor Statistics, the average event planner (self- employed and not associated with a franchise) earn between $48,000-$100,000 a year, with the average party planner earning slightly over $3,000 more a year than a median household income. Now, consider how that income could rise if you had the advantages of a franchise behind you.
By purchasing an entertainment franchise, you will have the power of brand recognition behind you, a set of operating procedures already in place, training and resources, and in many cases, an assigned territory. If you're looking for a relatively small start-up cost, franchises in the party planning and rental industry are your best bet. The cost to buy into a party rental franchise varies but can be found for as low as $14,000.
If you enjoy putting smiles on peoples' faces, making people happy, or you simply want to get into an industry that has the potential for profit, buying an entertainment franchise might be the perfect opportunity for you to make your mark. As we mentioned earlier, when you want to consider an entertainment franchise, think about the sub-categories and where the potential profits are. Kids, wedding receptions, and even bachelor and bachelorette parties will require entertainment of all kind, with a customer base willing to pay for that entertainment.
Finding the right franchise can be the difference between success and failure. Regardless of the type of franchise you're looking for, whether it is entertainment related or in some other industry, having one place where you can do your research is a timesaver. That's where All USA Franchises comes in. All USA Franchises a one-stop shop for all things franchise related.
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All USA Franchises is the absolute BEST place to find entertainment franchises. Whether you're looking for event and wedding planning franchises, All USA Franchises is your go-to source for the entertainment franchises. The entertainment industry has grown steadily shows no signs of slowing down. There's no reason you can't mix business with pleasure. Start your search with us, and while you're here, check out some of the articles on our blog. At All USA Franchises, we want you to have all the information you need to make an informed decision when you're looking for a way to build a solid future. For many, the American Dream is owning your own business. There's no doubt a franchise can be your gateway into that world. Let All USA Franchises help you achieve your goals by providing you with a place to start.
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