Getting into the business of child care makes solid sense. Every neighborhood requires a day care center and this is perfect way to indulge your love for children even while making a profit from the same.
A quality day care center it is easy to start as well. All it involves is finding a facility in the right location, arranging proper licensing, getting good staff and equipment and planning sound activities and administration.
But what about the finance? You need sufficient funds to get the creche up and running, and this will mostly require you to approach investors. And this is where a business plan enters the picture
The business plan will begin with an executive summary of why you are starting the day care center. This will include your goals, objectives and what you aspire to provide the children. You also need to dwell on how you are sure to achieve success.
Next comes a lucid market analysis of the day care industry including the current trends and latent revenue potential. Highlight why the target area needs a day care center and provide an overview of the competitive landscape. Specify the kind of customers you intend to serve and also how you plan to position yourself to gain a clear advantage over other competing creche facilities.
The marketing and pricing strategy forms a key element of the business plan. Disclose the fixing of prices as well as payment options to be offered. Clearly set out the publicity and advertising gimmicks – fliers, banners, ads, social media promotions and sponsorships – and how they will help attract customers to the facility.
Establish the legal structure of your day care business, the licensing as well as your personal background and eligibility for managing children.
The day-to-day administration and other operating procedures also need a mention. Cite the qualifications of the management team and also list out how you plan to hire and train the right personnel.
Indicate where you will set up the day care facility and whether you plan to buy or lease the same. Include details of design considerations, furniture, furnishings, equipment and so on.
A business plan is incomplete without specifying the amount of finance needed to launch the day care and keep it running. Also include key financial indicators such as enrolment forecasts, break even analysis potential for profits. You need to clearly state how you intend to raise the funds to maintain the projected cash flow.
In sum, the work may involve children, but the business plan needs to be as polished and professional as any other business. This is why specialized business plan consulting is essential. Professional business plan consulting provides effective market analysis, current data and other vital information that will resonate with potential investors.
In fact, the same business plan can also help you to properly organize the business and ensure that it stays on track in the future.