I need to respond to this in 300-400 words with references cited in APA format.
Consider that, “[f]or many people who want to own and operate a business, it is worthwhile to consider franchising as a path to business ownership,” (Mariotti & Glackin, 2016, p. 21). The Little Gym, Kinderdance International, Inc., and Engineering For Kids are three franchises that I examined and with having a 2 year old of my own, I wanted to explore businesses that would benefit children and help them discover and hone their knowledge, talents, and skills. The Little Gym has various programs like sports and gymnastics that help build confidence and skills through ages 4 months to 12 years. Kinderdance likewise has music, dance, gymnastics and fitness programs to help children develop and grow through learning. Engineering For Kids uses STEM (science, technology, engineering, and math) to help kids have fun and grow through academic learning in a fun and interactive environment.
Bear in mind that, “[f]ranchising allows young and educated people without financial capital and business experience to become economically active. A potential franchisee obtains not only a tested business concept, but also the opportunity to avoid mistakes…” (Lewandowska, 2014, p. 165). Ephesians 5:15-16 reveals using discernment through, “Look carefully then how you walk, not as unwise but as wise, making the best use of the time, because the days are evil…,” (ESV). Since Kinderdance has the lowest franchise fee, around $15-28k, and their total investment is the lowest of the three franchises, it seems most financially wise to go with Kinderdance. Kinderdance and The Little Gym are most similar in what they offer, but Engineering For Kids centers around academics rather than physical activities. While the latter franchise provides a different competitive strategy, I personally would enjoy the fine arts and fitness aspect of Kinderdance and believe this company would align most with my values and finances.
Lewandowska, L. (2014). Franchising as a way of creating entrepreneurship and innovation. Comparative Economic Research, 17(3), 163-181. http://dx.doi.org.ezproxy.regent.edu:2048/10.2478/…
Mariotti, S., & Glackin, C. (2016). Entrepreneurship: Starting and Operating a Small Business (4th ed.). United States: Pearson Education, Inc.