Owning any business can prove far more difficult than predicted when you are new; this is especially true if you are owning a preschool. The reason is, as the owner you are often driven by a desire to work with children.
However, after the initial excitement, an owner can be swamped with stress and steep learning curves in terms of licensing requirements, staffing, finances, and marketing.
As a result, there may be little business growth which further exacerbates the problems.
A new owner may not be prepared to handle the daily stress brought on by owning a preschool. The pace is often much more hectic than imagined. Dealing with difficult situations such as discipline and unhappy parents or staff makes it much more complicated.
Money concerns and steep learning curves in terms of administrative duties can truly leave owners feeling overwhelmed.
Licensing requirements can be one of the most difficult things to master and can have the direst consequences to owning a preschool if the owner fails to be thoroughly knowledgeable in this area. The process is often very complex and varies from state to state.
Failing to follow the guidelines can result in preschool sanctions or a shutdown. As a result, the preschool can lose the trust of parents. Sometimes parents sue you if their child is hurt while attending your preschool.
Managing staff can also be much more difficult than imagined. First, you have to attract and retain highly qualified staff members, because this is the most important factor in attracting and retaining parents. You must also make sure to perform background checks and deal with a variety of scheduling conflicts.
You must also learn to delegate so as not to be totaling overwhelmed â€“ not an easy task for those who like to be in control.
Those owners who attempt to open a preschool without some understanding of marketing will see very little business growth. It is true that word of mouth is the most effective tool in a preschool’s arsenal. However, that is not true in the beginning and you should prepare yourself to aggressively market with a variety of tools such as mass e-mailing and Social Networks like Facebook.
As an owner, you must also understand how to track marketing results in order to make informed decisions.
Ultimately the success or business growth of any preschool is measured in terms of finances. This too can come with a steep learning curve and managing finances may require the help of an expert or the need to learn special software.
Then, there are cash-flow problems. Start-up costs can require almost three months of operating costs without any incoming money. Also, dealing with deadbeat parents is often hard for those who have a tender heart.
As a result of these issues, it is simply not enough to be passionate about children. Preschool owners, like yourself, must be knowledgeable about licensing requirements and must be able to handle staffing, marketing, and financial issues.
Unfortunately, owners often underestimate these things while experiencing the thrill of owning a preschool business. However, failure to get a handle on them can result in a great deal of stress for you, the owner, and perhaps even ultimately failure.