Helping childcare business owners build successful, sustainable businesses through practical strategies, real-life experience, leadership, faith, and encouragement.

Posts tagged ‘budget’

5 Things I would do today if I had to increase Enrollment by 20 children

You don’t have to figure out the childcare business alone. I’ve been where you are. I’ve been a family childcare provider, a center owner, a director, a leader of teams, and a multi-location owner. I’ve made mistakes. I’ve learned. I’ve expanded. I’ve had to rebuild and grow. Now I share what I’ve learned to help you build your childcare business!

Every day that you have enrollment openings, that’s another day that your business has lost income that you will not get back. In fact, when your enrollment is low, it impacts your cash flow and may even cause financial stress. So today, I want to share with you 5 things that I would do if I had to increase enrollment by 20 children:

  1. Create a referral program that gives staff and parents an incentive when they refer others to your childcare business. You can start by making a referral coupon using Canva. Print and make lots of copies to issue to parents and staff.
  2. Invite parents to leave a review on your google page as reviews inspire parents to contact your for childcare. Be sure to insert the QR code that’s linked to your google page in a word document and invite parents to scan the QR code to leave a review.
  3. Utilize Chat GPT to personalize enrollment building ideas. Ask Chat GPT, How do I build enrollment in my business, Tell Chat GPT your website and the name of the city where you live. You will be amazed at the ideas you will get from Chat GPT. ( see my post)
  4. Boost Your Social Media posts to create exposure. You could even set a budget of $10 a day on post that have received high views on Instagram and facebook.
  5. Update your website and be sure that you market your differentiators (what makes you different) on your website and consider offering a trial day. Furthermore, when parents call you for a tour, offer a trial day. because if parents try it out, you’ve already gained the trust of the parent.

How many children would you like to add to your enrollment right now? Let’s Talk. Leave your answer in the comments. I’m personally reading and responding to the conversation.

Dr. Shiketa Morgan

Category:

building enrollment, Marketing

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How to Keep Track of SBA Funds

calculator placed over stack of usa dollars

Photo by Karolina Grabowska on Pexels.com

Have you applied for the payroll protection plan or any SBA Funds for your Child Care Business during this pandemic?

Covid 19 hit the childcare industry and many other industries hard and having financial assistance from the SBA and other agencies is how many businesses are surviving right now. However, it is still vital that you maintain your record keeping in the event of an audit.

Today I want to share some strategies with you that will help you to maintain your current budget plus the additional funds that you receive from the Small business assosciation or Federal PPP funds.

 

 

  1. When you receive SBA funds, keep those funds seperate from other business funds. It may even be helpful to you to start another bank account.
  2. Keep track of how you spend the funds by using a log. (SBA Working Capital form
  3. Only use the funds on monthly operating expenses such as: rent, payroll, food, supplies, utilities, etc.
  4. Using SBA funds frees up your monthly workin capital and allows you to stay afloat during this pandemic.
  5. Finally be sure to keep all receipts.

With your Business Success in mind,

Shiketa

If you need coaching, I am just a phone call away! sign-up today.

Category:

Accounting, Budget, Business Management, Marketing, Record Keeping

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