The Mumpreneur explosion
Is the explosion of ‘Mumpreneurs’ a breath of fresh air or an oversaturated market?
We are now in the middle of the biggest baby boom since the 1960s and every second new mum out there is either setting up a business or thinking about it. The parenting/ baby-needs industry now has a turnover of over $6.3 billion a year in Australia. Is the market saturated or do you think there is room for even more?
As women are having babies later they want to have more flexibility with their working lives and spend more time with their children and also use their brains post-baby. Often their old/pre-baby jobs can’t offer them the flexibility they need or the thought of working five long days a week is too much.
This has led to a lot of mums setting up their own businesses. Why not? They have the skills and the education. Mumpreneurs (and Mumtrepreneurs) are starting to flourish. It’s often during the time they are at home with their baby that they find a need in the market to fill. It’s no wonder new parents these days can choose between a million new products that simply weren’t around 10 years ago.
Eco-disposable nappies? No problem. Hand-made fair-trade toys from Peru? Sure! Baby mats in 100 varying thicknesses, fabrics and designs? Yep, they’re available. You can even buy leg warmers for your baby that can also be worn as sleeves and machines for prams that are used in your home, but give your child the illusion that they on a long walk outside. It’s enough to give your grandmother a heart attack!
Our PR business has worked in this space extensively. For a mum starting a new business advertising is often simply not an option. Savvy mums know you can get more bang for your buck from a great editorial mention.
The PR opportunities for these mums are quite extensive. There are many glossies out there filling their pages each month with the many new baby products on the market. And although some have not survived (e.g. Junior), there are many more online mags and newsletters doing the same thing. Some of these like LMNOP and Babyology are like beautiful high-end magazines. Others showcase new products and services as well as offer great advice and support to new parents. As well as new Mumpreneur businesses popping up frequently, many new media outlets dedicated to parents are too.
What do you think? Is the market for clever baby products and services saturated or is there room for even more? Are these Mumpreneurs a breath of fresh air and a great example for the work/life/balance model or are they just peddling more crap that nobody needs? Are you thinking about launching your own new parenting product or service? Would your great granny turn in her grave or relish in the innovation? Have babies become ‘the new black’ and our bugaboo prams the latest expression of that?