Do you have plans to expand your Child Care Business in the near future? Are you afraid of expansion? Don’t know where to start?
If you answered yes to the questions above, this post is for you!
As you may already know, I expanded my Family Home Child Care Business into a Center in 2003 and in 2014 I expanded again!
My Dream Location!!
On December 1, 2014, I moved into my Dream Location. 6,000 square feet with a large playground and very large classrooms. I could not have asked for a better location.
As I went through the expansion, many providers asked me How I did it. In fact, the top question that I received was, How much did it cost?
Today, I want to share 4 Expansion tips that I believe are a crucial part of the expansion process:
1. As you apply for finances for the expansion, be prepared to issue (2 years) of financials or profit and loss reports to your bank or lender.
2. Be prepared to write a Lease proposal if you really want the building.
3. Before moving into a new location, check the license records on that location (if the building was previously licensed for childcare, particularly the enrollment numbers.) This is a great way to assess the need of the location.
4. Complete a start-up budget for full capacity and a budget that reflects being only filled to 50-60 percent of the capacity. This method will give you a realistic view of how much money the Center will make.
For more Expansion or Start-up Tips, Download a Copy of my Child Care Business Expansion Guide Today!
If you need Start-up or expansion coaching, contact me today! click here
Much Success To You!
I have found that most family home childcare providers choose not to expand their businesses away from their home. In fact, it has been my discovery that only a small majority of Family home Child Care providers will choose to expand, because they are simply tired of their businesses being in their home and they are ready to operate a larger business.
However, most family home providers that I meet, are content with having a daycare in their home. It took me quite some time to accept the fact that many home providers may not expand their businesses and that is why I decided to write this blog post: How to Operate your home daycare like a center.
I believe that family home child care providers should operate their businesses as if it were a center. Furthermore, I believe that if you run your Home Daycare like a center, the parents will view your family home child care business as a school or a center.
When I was a home provider, my parents called my daycare a school, because when they entered my home, it looked like a center and I ran my home daycare as if it were a center.
Today I want to share with you 5 things that you can do to start operating your Family Home Child Care Business Like a Center:
1. Choose to operate an in-home preschool and not just a daycare. Check out my article: How to create a Quality in-home preschool Classroom in your home.
2. Hire trained professionals to assist you with your home daycare
3. Develop policies and put them in written form for parents to follow.
4. Require that parents pay their tuition on time and be consistent. (Try my makeover your tuition policy ecourse)
5. You must think like a Center Owner! Discover how a center owner thinks by downloading my Directors handbook and my Art of owning a Child Care Center ebook.
For more Success Strategies for your home Daycare, Be sure to Register for my Upcoming Home Daycare Success Strategies Webinar 3-Day Event!
I look forward to your feedback and I hope to see you at my upcoming Webinar!