What to Include in a Daycare Business Plan

Coming up with a daycare business plan is an important part of the process of starting a new daycare. If you are in the planning stages of starting a new daycare, there are several things that you need to consider when coming up with a business plan. Here are a few things that you need to include in your daycare business plan.

Mission Statement

When coming up with a daycare business plan, you need to create a mission statement. The mission statement will cover the basic purpose behind starting your day care business. This is a statement that will provide you with some type of guidance throughout the existence of your business. Anytime that you start to stray away from your purpose, you can read the mission statement and it will bring you back towards the focus. 

Business Description

You also need to come up with a detailed description of your business. Talk about the childcare services that you will provide and how you will provide them. Include any features or aspects that make your business a unique one. 

Goals

Another section of your business plan should include your goals. You need to have specific goals for your daycare that are measurable and achievable. You need to spend some time thinking about long-term and short-term goals for your business. You might set a short-term goal of enrolling 20 new children to your daycare within six months. A long-term goal might be to have 100 children in your daycare within 5 years. Having definable goals will help you stay on track and know when you are accomplishing what you need to get done to be successful.

Target Market

In any business plan, you need to spend some time identifying who your target market is. When you are a day care, obviously your target market would be adults who have children. In most cases, the individuals that need daycare services will be somewhere between 20 and 40 years old and will be in the working class. 

Competition

You also need to devote a section of your daycare business plan to analyzing your competition. In order to create a viable business, you need to enter into a market that is not completely saturated with daycares. If there is a daycare on every block, you will most likely not have good luck. Look at your nearest competition and determine if you are substantially different from them in any way. 

Finances

You should also include information about your finances and what you expect out of the first year. You need to try to be as realistic as possible and estimate your cash outflows and revenue. Try to determine what other daycares in the area charge and use a figure that is close to that when calculating your revenue. You should try to allow for some problems as well because every new business goes through some growing pains at the beginning. If the finances make sense, then there is no reason to avoid going through with the business. 

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