Several weeks before I wrote this blog post, I was presented with an opportunity to buy a second location.
I really had to pray about that decision because I know how much work it is to run a child care facility.
With prayer and much reflection on the fact that my Current facility is filled to capacity with a waiting list, I couldn’t pass up the opportunity to expand again.
However, 17 years ago when I incorporated Learning Days, I had a vision of owning multiple locations.
So with my vision in mind, I had to press pass my doubts and fears and embrace the fact that my dream has manifested!
Today I want to share with you what the process has been like….
I recently purchased a facility that was already operating. The facility is fully equipped with employees, equipment and children.
I must say the transition has been exciting, somewhat stressful, but after 3 weeks of owning 2 locations; the process keeps getting better!
One of the challenges that I have faced is managing my time between both locations.
Furthermore, to keep my days from being so stressful, I plan my entire week and I only deal with tasks on my priority list.
Between both locations, I now have 20 employees and honestly I am enjoying getting to know my new employees. **My fear of having 20 employees was only a negative thought. The reality is, I love it! I get to inspire more people and provide more jobs!
I have learned to never over stimulate your employees with too much information, so every week, I am gradually implementing my policies and practices.
My top priorities now is to hire a Director that shares my vision at my new location, pour my vision into my new employees, create positive change and build a child care business that families love.
Most of all, having 2 locations provides the families that we serve with options and it also provides my employees with more opportunities.
The most challenging part of Expanding again was preparing my mind for all that comes with more employees and managing multiple sites.
In fact, since I have decided to go forth with the expansion, I have delegated more duties to my team and i must say that you can do anything when you have a dependable and loyal team!
As always, I want to share with you what this expansion process has taught me ….
- You can do anything if you just get over your self!
- Don’t rush the process. Rushing only makes the process stressful.
- Allow yourself 60-90 days to take over ownership or to get the facility licensed.
- If the business already has employees, meet with the employees and get to know them.
- Develop a financial plan and don’t expand if you do not have a financial plan.
- Begin marketing your expansion right away.
- Work on improving the morale among the employees if you are purchasing a business that’s already operating.
- Find out what the requirements are for changing ownership in your local municipality and with licensing.
- Keep your staff and parents informed as you go through the expansion process. Parents are always excited with Business Growth, as long as it does not inconvenience them.
- If you are buying a Child Care Business from someone else, allow some time for the previous owner to work with you to make the process much smoother.
It has only been 3 weeks since I received a license for my second location and I know the best is yet to come. I’ll be sure to keep you posted.
For more expansion tips, or if you would like to find out how I manage my centers, be sure to download a copy of my Child Care Business Expansion Guide and The Art of Owning a Center ebook. click here
With Business Growth in Mind,