Most child care providers first enter the field for positive and non-business reasons such as the children, family, community and mission. Realities have changed: schools are increasingly inclusive, the consumer market place has shifted, funding streams are different (and generally smaller) and the child care industry is maturing as a business.
Gradually, child care providers are recognizing the need to develop and implement business models that are based on sound market research, feasibility studies, and revenue and expense projections. Viable business plans enable child care providers to become "loan ready." That is, equipped with a financially and operationally viable business plan that enables them to approach lending institutions to access the capital needed for start-up and operating costs.
Both centers in the initial stages of planning a child development center and those that have been running one for the last decade and want to expand need to carefully plan their operations and finances inclusive of sound market research, feasibility studies and revenue and expense projections.
Through a child care technical assistance grant from the Child Care Bureau, Easterseals has developed a financial projection package for establishing an inclusive child development center. Examples of some of the information addressed include:
Easterseals offers a financial planning booklet and excel workbook as well as a design guide.
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