Are you thinking about starting your own preschool? If so, it’s crucial to create a plan before you open your school. There are many factors that go into running a successful preschool. Your plan’s action items will depend on the specifics of your vision for your business.
In this blog post, we’ll discuss the steps that go into writing a comprehensive business plan for a preschool business. We’ll outline the essential components of a solid business plan. And we’ll also provide some helpful tips so you can write your own!
Ask yourself: What will the purpose of your preschool be?
One of the first steps of outlining your preschool business plan is determining your preschool’s purpose. Creating your mission statement will help guide you through all aspects of running your preschool. It ensures that your mission’s intended purpose is aligned with your vision.
There are a number of different types of preschools out there. Whether you’re looking to create an inclusive school environment or you intend to open an all-day preschool that caters to children who have autism or other special needs, it’s important to identify what type of preschool you intend to run before moving forward.
Determine the costs & revenue for your business plan
The next step in writing your preschool’s business plan is to determine the cost of starting your preschool. This includes the most common expenses. For example, monthly rent or mortgage payments, equipment and furniture, registration fees, and advertising/marketing materials (like flyers or brochures).
All of these expenses add up fast! You’ll want to do some research into the tuition prices of similar schools in your area. This will not only give you a helpful benchmark but can also give you a competitive edge as well.
Examine your market needs
Next, you’ll want to examine your market. This includes looking at the size of your target demographic and who they are. It also includes children’s age range and where your prospective families live in relation to where you plan to open up shop.
You’ll also need to develop a grasp of the types of families that might be interested in enrolling their children at your school so that you can tailor your marketing materials specific to them.
If you don’t complete this step first, it will be hard to know how much time or money you’ll need to allocate toward advertising or how to determine your school’s enrollment fees. No preschool business plan is complete without this very important step!
Establish policies and procedures
Your next step in outlining your preschool business plan is establishing the policies and procedures you plan to implement. The best way to communicate your policies and procedures to new families and employees is through handbooks.
For employees, you need to ensure that you include information in your handbook about policies and procedures for requesting time-off, reporting children’s absences, your dress code if applicable, and more!
For new families, their handbook should include information about the registration process, pick-up and drop-off times, student attendance policies, and whom to contact if there is a problem with your services or facilities, for example. All of these little things go a long way with new parents and employees.
Promote your new preschool
Nowadays, most businesses have a website so people can find information including that business’s location, contact details, and what types of services they provide. Preschools are no exception. Make sure that when you set up your website, it is user-friendly, loads quickly, and reflects your preschool’s core values.
Not only does a stellar website legitimize your preschool in the eyes of prospective parents, but it also acts as a hub for all of the other channels to which you need to promote your preschool… which brings us to our next mode of promotion: social media!
If your social media presence is lacking (or even worse, nonexistent), you are almost guaranteed to be missing out on reaching an entire audience of prospective families in your area. We recommend you start by establishing pages on platforms like Facebook and Instagram.
Make sure that you post regularly (about three to five times per week), and ensure that your content is consistent across the board. With the availability of new automation tools that can help you schedule your posts, not having enough time is no longer an excuse!
While online marketing initiatives make it easier to measure your results, it’s also wise to incorporate some more traditional marketing methods as well. Hanging flyers at local businesses and organizations is an easy, low-cost way to get the word out about your school.
Once you start gaining enrollments, you can even offer parents incentives if they make referrals to their friends and family!
Your preschool business plan needs to be clearly outlined before you open your doors. This will ensure that everything goes as smoothly as possible, in both the short-term and long-term. You’ll need to make decisions regarding costs, operating policies, and procedures, examine your market needs, and develop an effective promotion strategy for attracting families.
From there, your main focus will be driving and retaining enrollments so that your preschool can thrive!
Are you thinking about opening your own preschool? Contact Local Child Care Marketing today for a free consultation!