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Are You Truly Ready To Grow Your Child Care Center?

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Before you can grow your child care center, as the owner you must take into consideration the many challenges and benefits to expanding your business.  It is not just a matter of providing additional business to a greater number of children.  You must carefully plan the expansion while weighing personal and facility capacities. Also, some market research is always helpful.  Failure to do this could risk the overall success of your center.

Personal Concerns

Consideration must be given to the personal impact on you and your time.  If you’re not much of a risk-taker, expansion might cause undue stress.  Also, can the extra work load be easily incorporated into the day, will new staff be required, and are you prepared to work longer hours?  Do you struggle with delegating jobs and authority?  Also, would any additional business require new skills that would have a steep learning curve?  Answer these questions truthfully as you consider expanding.

Evaluating the Child care center

Are you ready to expand the business?  As the child care center owner, you must carefully evaluate the current financial capacity of the business.  Is the current client base holding steady or declining?  A declining enrollment could indicate major problems that should be solved before there is any talk of expansion.

Market Research

Your market research must be current.  Many owners have been tempted to rely on the information from when they opened the business.  This is a dangerous strategy because much of that information will be outdated.  Local businesses could have closed or changed shift hours, thereby changing the needs of your potential clients.  Also, the competition may have made significant changes that can have a drastic impact on the expectations of parents.   Do your market research!

Planning

Once the marketing research has been completed, you must carefully consider how growth in capacity or business could be met by the child care center.  Staffing, class sizes and available spacing would all need to be planned out carefully.  You  must also keep in mind the state requirements that must still be met or risk losing your license.

Financial Implications

Finally, what are the financial challenges for the growth of your child care center?  Like any business, you must carefully calculate expected expenditures in terms of hiring additional staff, building additions, and implementing new programs.  Then, you must decide where to come up with the necessary money.   Does the capital already exist or would it require taking out a loan?  Bottom line – the projected income must outweigh the expected costs.

Expanding your child care center comes with many unique challenges, but can result in a considerable increase in income.  Just make sure to carefully consider personal issues, the current financial stability of the business, marketing research, necessary facility changes, etc., against the potential rewards.  Doing so will ensure an expansion rate that is appropriate for your child care center.

5 Reasons To Start A Day Care Center

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As a child care provider, you may have many reasons for starting a day care center and becoming a business owner.  You may possess a passion for children or want to fill a need within the community.  In addition, maybe you excel at business growth and realize that your passion for children can be combined with this talent to provide financial security.  You might simply want variety in the workday, or to be the boss.

Passion for Children

Starting a day care center is a natural decision for anyone who has a true passion for children and a desire to own a business.  For someone like you, it is about loving children and helping them to learn and encouraging their full potential.  Often having a background in early child education encourages you to use your training by owning a day care center.

Provide a Needed Service

Are you a child care providers that sees a need within your community?  Do you feel strongly about providing children with a safe environment?  Often communities lack quality child care. If you are someone with a passion for children, this is the perfect opportunity.

Financial

Because more and more families have both parents working, the child care industry is undergoing considerable business growth.  A new owner can expect to make the most of these opportunities.  This is especially true in specialty child care services such as drop-in care, 24 hour care, and even a sick day care center.  In these special niches, as the owner you can set prices that will ensure financial security.

Variety

Are you looking for an escape from the dullness of office life? Running a child care center can certainly provide that!  In addition to the joys of working with children, as the business owner of a day care center, your duties will include a variety of jobs, such as administrative to scheduling and payroll.  You will also need to conference with parents and teachers.  Marketing for business growth will also be your responsibility.

Be Your Own Boss

One of the strongest motivators for anyone to start and grow a new business is a desire to be the boss.  Do you like to manage your world and be a strong leader?  Being in charge allows you to delegate duties so you can choose the jobs you like the most and that can help spur business growth. Does this sound like you?

Starting a day care center may be easy for some and difficult for others. For those with the right motivation, you will find that there are many benefits.  Nothing could be more fulfilling than living out a passion for children and a desire to provide a much needed service to the community.  Experiencing financial security, variety in the workday, and the ability to be the boss may be all a day care center needs to spur on serious business growth.   Discover what is motivating you to become a day care center business owner!