Start-up Funding | |
Start-up Expenses to Fund | $39,450 |
Start-up Assets to Fund | $79,680 |
Total Funding Required | $119,130 |
Assets | |
Non-cash Assets from Start-up | $14,130 |
Cash Requirements from Start-up | $65,550 |
Additional Cash Raised | $0 |
Cash Balance on Starting Date | $65,550 |
Total Assets | $79,680 |
Liabilities and Capital | |
Liabilities | |
Current Borrowing | $0 |
Long-term Liabilities | $60,000 |
Accounts Payable (Outstanding Bills) | $0 |
Other Current Liabilities (interest-free) | $0 |
Total Liabilities | $60,000 |
Capital | |
Planned Investment | |
Owner – Kilpatrick Cash | $45,000 |
Owner – Kilpatrick Credit Line | $12,500 |
Other Assets Invested | $1,630 |
Additional Investment Requirement | $0 |
Total Planned Investment | $59,130 |
Loss at Start-up (Start-up Expenses) | ($39,450) |
Total Capital | $19,680 |
Total Capital and Liabilities | $79,680 |
Total Funding | $119,130 |
Kid’s Community College® will begin with one location – a newly constructed 3,600 square foot campus in Riverview, FL located near the entrance of the upscale Lake St. Charles subdivision. The campus is in the Lake St. Charles Medical Professional center and will boast separate halls for arts and crafts, theatre and dance, information technology, library and quiet study, tutoring, infant care and a cafeteria. The play area will be adjacent to the campus and will be securely fenced and furnished with appropriate playground equipment and facilities.
Three additional campuses are planned in the rural Tampa marketplace over the next four years. Franchise start-ups will be offered in the Orlando, Miami and Jacksonville marketplace after 2 years of successful operation.
Kid’s Community College® is a privately-held proprietorship owned in majority by its founder and president, Timothy Bernard Kilpatrick, Sr. There are also two silent partners, neither of whom owns more than 10%, but will be active participants in daily operations, management decisions and consulting, though they do not own a financial stake in the company.
Once the operation reaches its anticipated growth and profitability goals, the college plans to franchise and will re-register as a limited liability company or as a corporation, whichever will better suit the future business needs.
Kid’s Community College® offers upscale child care services and an advanced collegiate based curriculum designed for kids ages 4 months to 5 years and 1st through 5th grades. Normal operating hours will be 6:45am to 6:30pm, Monday through Friday – with observance of all major legal holidays. Early drop-off service will be offered as needed.
KCC exists to provide Premier child care services that are aimed at enhancing traditional day care methodologies and integrating extracurricular interests (such as arts and crafts, dance, theatre and gymnastics) into one comprehensive program. Our activity based collegiate curriculum is specifically tailored for children and mirrors the arts and sciences taught at colleges, universities and vocational schools around the nation. We offer state-of-the-art technology programs in leading-edge facilities which help prepare students for the technology age in which they live. Our general and “continuing” education programs help mentor and tutor students through “main school” homework assignments and provide a base of understanding and interaction to ensure success in future educational endeavors. Finally, our developmental programs reinforce basic social, listening, independence and motor skills and prepare students for future related interaction.
All of our learning and child care services employ technology, partnerships, professional services and other activities that support and promote higher learning.
In addition to the extensive services and curriculum offered, each campus will also offer weekend specialty classes for children and adults and planned family activities in the community it serves. KCC will also offer children birthday party hosting services, providing great activities for kids and an easy experience for parents. Activity instructors will be assigned for these events and will lead the activities, ensuring a memorable celebration.
Upon its opening, Kid’s Community College® will offer four basic services in the Lake St. Charles community:
Prior to opening, the college will have a two-month enrollment drive. Based on the market reaction to the drive, these services may be altered to meet the needs of the community. The college will always remain nimble enough to respond to the needs of the community in which it serves.
The child care industry as a whole is saturated. However, based on US Census 2000 data, Hillsborough County Child Care Services provider listings and Hillsborough County building permit records, the city of Riverview, Florida itself is growing and has few licensed child care facilities. Kid’s Community College® intends to fill this local market need.
The Lake St. Charles and ‘The Villages of Lake St. Charles’ subdivisions have 800 and 100 single family homes respectively. There are only two other child care facilities in the neighborhood. One is in the immediate area, a church based facility and the other is 2 miles away, a facility hosted by a local martial arts academy. There are also three family child caregivers listed in the area, but none in the immediate community. Kid’s Community College® will differentiate itself from its local competitors by offering an alternative to these traditional day care approaches.
The Kid’s Community College® market strategy is based on providing an activity based learning environment that is used in many major colleges, universities and vocational centers around the nation. We will offer a community of professional caregivers with the credentials to not only enhance a child’s early social and motor skills, but to also teach them advanced studies in the arts and sciences found at institutions of higher learning.
Kid’s Community College® will be located in a new medical arts plaza, which has already shown a need and interest for child care services. The center currently has a pediatrics office and fitness center with clientele that has inquired about child care services. By forming collaborative partnerships with these businesses and becoming an active voice in the Lake St. Charles community, the college will position itself as the market share leader in child care services, development and educational offerings.
A copy of the Kid’s Community College® informational brochure is attached in an appendix at the end of this document.
The key fulfillment and delivery of services will be provided by the campus director, licensed campus instructors and staff workers. The real core value is the professional strength and industry expertise of the founder and silent partners, staff experience and certifications, education and hard work (in that order).
We will turn to qualified professionals for freelance back-up in tutoring and educational support, which will enhance the core values provided to the clients.
Since the company founder has an extensive Information Technology background, it’s only natural that Kid’s Community College® will employ and maintain the latest technology to enhance its curriculum, office management systems, payment processing and record keeping.
Three additional campuses are planned in the rural Tampa marketplace over the next four years. Franchise start-ups will be offered in the Orlando, Miami and Jacksonville marketplace after 2 years of successful operation.
Kid’s Community College® offers services which are vitally important in today’s fast paced, dual-income world. As an increasing number of families have become dependent on two incomes, the need for quality child care has skyrocketed. According to Florida Business Statistics, 84.6% of licensed child care facilities succeed and make a profit in their 1st year of operation. Nationally, this number is 66.7%.
Kid’s Community College® has a focus on meeting the local community need for child care services within the 10-mile radius of Riverview. Students will be taken in flexibly on either a full-time or part-time basis.
Full-Time Working Couples
The college will establish a significantly large, full-time, regular client base in order to establish the healthy, consistent revenue base which will ensure stability of the business. Customer and community relations are extremely important, as it is imperative to keep the parents pleased in order to keep their children in the college.
After School Care
Another large segment of the college’s business will be in the after school care market. This client base will provide a higher profit for the college since instructor-to-student ratios are higher, and the students require more educational services, which are the primary focus of the college. By offering tutoring, and advanced studies in technology, theatre, arts and sciences, the college will attract these profitable business clients, producing significant supplemental revenues.
Part-Time Workers/Drop-Ins
Part-time workers and Drop-Ins from the fitness center and locals businesses will comprise less than 1% of the revenues. While this market is not a primary focus, sufficient flexibility to handle this market is important to the local ‘word-of-mouth’ marketing strategy.
Market Analysis | |||||||
Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | |||
Potential Customers | Growth | CAGR | |||||
Under 5 Years | 6% | 2,665 | 2,825 | 2,995 | 3,175 | 3,366 | 6.01% |
5 to 9 Years | 6% | 2,865 | 3,037 | 3,219 | 3,412 | 3,617 | 6.00% |
10 to 12 Years | 6% | 2,771 | 2,937 | 3,113 | 3,300 | 3,498 | 6.00% |
Total | 6.00% | 8,301 | 8,799 | 9,327 | 9,887 | 10,481 | 6.00% |
The target market for Kid’s Community College® is full-time working couples. Referral marketing, direct-mail campaigns and community activity days will be the primary types of marketing strategies utilized. Maintaining and enhancing its reputation with families and in the community will be crucial in obtaining the planned market share growth of this target market.
According to US Census 2000 data, the population growth rate for Hillsborough county is approximately 2%, which is reflected in the market analysis summary. However, the Riverview area of Hillsborough County is experiencing a residential construction boom, yielding well over a 14.6% growth. This is supported by data obtained from the Hillsborough County Building Permits office and is included in the appendix of this plan. This suggests that more families continue to move into the Riverview area, thus becoming potential customers.
In our market analysis, we suggest a modest 6% yearly growth in the number of potential customers.
With inflation continuing to rise each year, the typical American family now requires dual or supplemental incomes. This trend has created a need for quality child care services. We do not see this model changing in the foreseeable future. In fact, based on the growth in the Riverview area, specifically the new Lake St. Charles and Village of Lake St. Charles communities, we expect the need to increase.
Currently there are more family caregivers than licensed child care facilities nationwide. However, this business model can’t keep up with the needs of the growing child care industry. In the family care giver paradigm, space is limited and quality of care is questionable – in many cases viewed as only slightly higher quality than babysitter services.
Kid’s Community College® is in the child care services industry, which includes several models:
Price, service, certification and reputation are critical success factors in the child care services industry. Kid’s Community College® will compete well in our market by offering competitive prices, high-quality child care services, and leading-edge educational programs with certified, college-educated instructors, and by maintaining an excellent reputation with parents and the community in which we serve.
Kid’s Community College® will focus on two subdivisions: ‘Lake St. Charles’ and ‘The Villages of Lake St. Charles,’ which are new upscale community developments within a 2 square mile radius and boast over 900 new homes.
The target customers are dual income, middle-class families who value the quality of education and child care provided for their children ages 4 months to 12 years.
Kid’s Community College’s® value proposition is quite clear and quite easily distinguished from others in the market. We offer uniquely premium child care services, as measured by the curriculum and activities offered, experience and educational level of the instructors, community involvement and community college theme.
We start with a critical competitive edge: there is no competitor in our market that is offering our concept, quality of educational program and child care services. Our educational approach is unique and we have a resource with over 25 years of child care expertise and over 17 years of technology savvy. Our positioning on these points is very hard to match, but only if we maintain the focus in our strategy, marketing, business development, and fulfillment. We should be aware that the tendency to dilute this expertise with bargain shopping could weaken the importance of our competitive edge, but we must continue to bolster our value proposition.
Marketing in the child care industry depends largely on reputation and referral. At Kid’s Community College® that reputation will start within our community bolstered by our involved commitment to those we serve.
1. Advertising –We’ll be developing our core positioning message: “A community college for kids!” to differentiate our service from the competition. We will be using direct mail campaigns, pre-enrollment drives, and local community newspaper advertising to launch the initial campaign.
2. Sales Brochure –Our theme and curriculum will help sell the college to prospective clients.
3. Direct Mail –We will send quarterly direct mail campaigns to the housing developments in a 10-mile radius of the campus. We will also offer monthly calendars for parents and the Lake St. Charles community, noting weekend family days and other open house approaches.
4. Community Involvement –We will be active in the Lake St. Charles community, sponsoring events at the community center for families and residents.
Catered open houses, parent survival days/nights, clubhouse pool parties and weekend movie matinees are but a few approaches we will utilize to reach out to our community. We will also develop and maintain partnerships with local businesses that cater to the needs of children.
Our pre-opening effort will include an application fee waiver, free children ID cards, T-shirts and a community block party sponsored and hosted by Kid’s Community College®.
For families who value the importance of higher education and quality child care services, Kid’s Community College® offers a great alternative to traditional child care services and specific interest based programs. Unlike those programs, KCC combines child care services with a modified collegiate level curriculum, just for kids!
Kid’s Community College® must charge appropriately for the high-end, high-quality educational and care giving services we offer. Our revenue structure has to support our cost structure, so the salaries we pay to assure quality services must be balanced by the revenue we charge.
We will be price competitive in the market we serve; however, we will not subscribe to the “low price leader” concept. The quality of our service will support the prices we charge.
Kid’s Community College® will sell its community college theme, services and offerings, separating itself from traditional daycare-only offerings.
We will be a one-stop shop for child care services, advanced learning and specialized program offerings. We will also be active in the community, building a solid reputation with parents and the community. By succeeding in these areas, we expect to begin seeing an operational net profit in month nine of the 1st year, while increasing enrollment by 32% monthly for the first 8 months and gradually thereafter, until our maximum allowed capacity is reached.
The following table and chart give a run-down on forecasted sales. A detailed spreadsheet is also included in the appendix of this business plan.
For the first eight months of operation, Kid’s Community College® has assumed a conservative enrollment due to the fact that school, aftercare and child care placement has already taken place for the school year and most parents will be comfortable with their current arrangements. Consequently, we expect initial enrollment to be far less than anticipated future year levels.
A sales increase of approximately 32% each month is expected until the start of the next school term, in August. While this forecasted increase seems large by industry standards, it is a good estimate based on initial enrollment. Going into years 2 and 3, we expect that our presence will be known, convenience factor considered and we will then be a considered as a choice in August 2003. In fiscal years 2004 and 2005, 80% and 90% of full enrollment is assumed respectively.
We expect to be open for business on January 1, 2003, starting with an initial enrollment of 13 students:
7 Full-time students at $115 each per week. 6 After-school students at $60 each per week and Drop-in revenue of approximately $100 per month.
Sales Forecast | |||
Year 1 | Year 2 | Year 3 | |
Unit Sales | |||
Full-time Couples | 199 | 455 | 512 |
After School Care | 141 | 220 | 248 |
Summer Camp | 26 | 29 | 31 |
Part-time Workers/Drop-Ins | 12 | 14 | 16 |
Total Unit Sales | 378 | 718 | 807 |
Unit Prices | Year 1 | Year 2 | Year 3 |
Full-time Couples | $460.00 | $460.00 | $460.00 |
After School Care | $240.00 | $240.00 | $240.00 |
Summer Camp | $460.00 | $460.00 | $460.00 |
Part-time Workers/Drop-Ins | $100.00 | $100.00 | $100.00 |
Sales | |||
Full-time Couples | $91,540 | $209,300 | $235,520 |
After School Care | $33,840 | $52,800 | $59,400 |
Summer Camp | $11,960 | $13,340 | $14,352 |
Part-time Workers/Drop-Ins | $1,200 | $1,380 | $1,587 |
Total Sales | $138,540 | $276,820 | $310,859 |
Direct Unit Costs | Year 1 | Year 2 | Year 3 |
Full-time Couples | $13.34 | $13.82 | $13.82 |
After School Care | $4.56 | $4.75 | $4.75 |
Summer Camp | $13.80 | $13.80 | $13.80 |
Part-time Workers/Drop-Ins | $0.00 | $0.00 | $0.00 |
Direct Cost of Sales | |||
Full-time Couples | $2,655 | $6,288 | $7,076 |
After School Care | $643 | $1,045 | $1,176 |
Summer Camp | $359 | $400 | $431 |
Part-time Workers/Drop-Ins | $0 | $0 | $0 |
Subtotal Direct Cost of Sales | $3,656 | $7,733 | $8,682 |
Sales programs will include incentives for obtaining quarterly financial and enrollment goals, probationary period completion, passing county inspections and maintaining perfect attendance.
Customer service awards will be provided for those employees who best exemplify the mission of Kid’s Community College® and exceed customers’ expectations.
The accompanying table highlights important start-up milestones, with dates, completion status, responsible parties and budgets for each. The milestone schedule indicates our emphasis on planning for implementation.
What the table doesn’t show is the commitment behind it. Our business plan includes complete provisions for plan-vs.-actual analysis, and we will hold monthly follow-up meetings to discuss the variance and course corrections.
Milestones | |||||
Milestone | Start Date | End Date | Budget | Manager | Department |
Business Plan | 8/1/2002 | 9/30/2002 | $200 | Tim Kilpatrick | Department |
Lease RFP | 7/15/2002 | 7/30/2002 | $0 | Tim Kilpatrick | Department |
Site Selection | 8/1/2002 | 9/15/2002 | $0 | Tim Kilpatrick | Department |
Architect Design | 9/15/2002 | 10/1/2002 | $0 | Zimmer | Department |
Secure Additional Funding | 10/1/2002 | 10/30/2002 | $500 | Tim Kilpatrick | Department |
Sign Lease | 10/15/2002 | 10/30/2002 | $4,500 | Tim Kilpatrick | Department |
Personnel Plan | 10/1/2002 | 10/30/2002 | $0 | Tim Kilpatrick | Department |
Curriculum Development | 10/1/2002 | 12/31/2002 | $500 | Candice Harris | Department |
County Certification Req. | 9/20/2002 | 12/31/2002 | $100 | Tim Kilpatrick | Department |
Licensing | 12/1/2002 | 12/31/2002 | $0 | Tim Kilpatrick | Department |
Totals | $5,800 |
As mentioned previously, Kid’s Community College® will form professional alliances with Impact Fitness to offer Drop-In child care services while parents work out. We will also partner with Family Pediatrics to provide referrals of their existing customers. A discounted rate will be offered in both cases.
The Kid’s Community College® website will be the virtual business card and portfolio for the college, as well as its online “home.”
It will showcase the campus, curriculum and activity calendar for the school. It will also provide for an Internet background of the instructors, online projects posted by the students, the campus newsletter and online enrollment.
The Kid’s Community College® website will be simple, yet classy and well designed, but at the same time, in keeping with the latest trends in user interface design. A site that is too flashy, or tries to use too much of the latest technology can be over-done, and may not be supported by all browsers.
The key to the website strategy will be presenting a very well designed and informative Web presence that will market the Kid’s Community College® image, service offerings and community commitment.
The Kid’s Community College® website will embody the mission of the college. It will not only offer visitors the opportunity to “look around” the campus, but it will give them a good idea of the level of quality and service they can come to expect from the college.
Mostly informative in nature, the website will be a digital representation of our physical self.
The Kid’s Community College® website will be developed by the college founder, Timothy B. Kilpatrick, Sr., who has over 17 years of Information Technology experience. Formation Technologies will host the site.
The site will be developed using Macromedia Dreamweaver 4, which will allow for support outside of Mr. Kilpatrick’s involvement. The initial maintenance of the site will be done by Mr. Kilpatrick.
The opening management team of Kid’s Community College® will consist of the founder, a silent partner, a campus director and administrative assistant.
As the college grows, gradual investments in the instructional staff will be made over the next 3 years – beginning in June 2003 or as otherwise dictated by enrollment.
Kid’s Community College® depends on the founder, silent partner, Campus Director and VP of Education Operations for management in the following roles:
Owner/President – Timothy B. Kilpatrick, Sr. The Owner/President will have overall fiscal responsibility, ensuring that the business is financially sound and attains its planned goals.
Industry Consultant – Carolyn Steverson. The Industry Consultant will be relied upon for her industry expertise, providing valuable insight to rules, regulations and governmental programs that may benefit the college.
Campus Director – Candice Harris. The Campus Director will be responsible for daily operations, curriculum oversight and management of all instructors, caregivers and tutors.
VP of Education Operations – Nitika Steverson-Kilpatrick
The present team requires Child Care Development Associate credentials to support our value proposition and preparation for 2004 Florida child care requirements. Currently, the Campus Director and Industry Consultant are the only members of the management team who have these credentials.
The Owner/President and VP of Education Operations will be enrolling in January 2003 to complete the six-month course required to obtain these credentials. Education for these two can’t begin in this area until that time since it is a requirement that the college be open for business before the course work can begin. Long-term, all full-time instructors will be required by the college (not the State) to obtain this credential.
Regarding financial administration, we will retain a strong CPA to help the owner guard cash flow. While the owner is well versed in the worries of cash flow, he also has the sense to listen to reason and deal with constraints, as guided by the CPA.
The following table summarizes our personnel expenditures for the first three years, with compensation increasing from approximately $57K the first year to about $113K in the third. We believe this plan is a fair compromise between fairness and expedience, and meets the commitment of our mission statement.
The yearly figures in the second and third year are assumptions for the Lake St. Charles campus only. The numbers reflect 100% enrollment, a full staff of instructors and a 5% payroll increase each year – which will include tuition reimbursement, pay increases, vacation pay, bonuses and state required certifications.
Personnel Plan | |||
Year 1 | Year 2 | Year 3 | |
Campus Director | $23,877 | $25,071 | $26,324 |
F/T Instructors | $21,760 | $61,440 | $64,512 |
P/T Instructors | $11,400 | $21,600 | $22,680 |
Total People | 5 | 8 | 8 |
Total Payroll | $57,037 | $108,111 | $113,516 |
The Kid’s Community College® financial plan depends on important assumptions, most of which are shown in the following table as annual assumptions. The monthly assumptions are included in the appendices. From the beginning, it is recognized that total enrollment is critical, which is a factor that must be influenced immediately. Interest rates, tax rates, and personnel burden are based on conservative assumptions.
The most important underlying assumption is that there is a strong need for the business in the Lake St. Charles community.
General Assumptions | |||
Year 1 | Year 2 | Year 3 | |
Plan Month | 1 | 2 | 3 |
Current Interest Rate | 7.00% | 7.00% | 7.00% |
Long-term Interest Rate | 7.00% | 7.00% | 7.00% |
Tax Rate | 30.00% | 30.00% | 30.00% |
Other | 0 | 0 | 0 |
The following benchmark chart indicates the key financial indicators for the first three years. We foresee a gradual growth in sales (enrollment) and operating expenses into the second and third year.
It is projected that the raw gross margin will remain stable for the first three years since expenses are relatively indirect in the service based course work industry. Operating expenses increase gradually as enrollment increases.
Enrollment is very important. We must maintain an average weekly enrollment of 34 students for fixed cost coverage.
For the break-even analysis, start-up monthly running costs assumptions are shown in the the table below, including a three person payroll, rent, utilities and an estimation of other running costs. Payroll, at median market averages, was presented previously in the Personnel table.
Based on these assumptions, the chart below shows the enrollment of students per month needed to break-even. This represents about 46% of our allowable monthly enrollment based on state and county course work guidelines.
Break-even Analysis | |
Monthly Units Break-even | 34 |
Monthly Revenue Break-even | $12,350 |
Assumptions: | |
Average Per-Unit Revenue | $366.51 |
Average Per-Unit Variable Cost | $9.67 |
Estimated Monthly Fixed Cost | $12,024 |
Our projected profit and loss is shown on the following table, with sales increasing from the first year to the third.
In years two and three, we are projecting full enrollment regarding cost of sales and gross margin. The investment return in these years supports the goal of opening another campus at the end of the second year and begin the franchise offering by the end of the third year. Profit from the additional campuses and income from franchising are not included in this business plan.
The detailed monthly projections are included in the appendices.
Pro Forma Profit and Loss | |||
Year 1 | Year 2 | Year 3 | |
Sales | $138,540 | $276,820 | $310,859 |
Direct Cost of Sales | $3,656 | $7,733 | $8,682 |
Hidden Row | $0 | $0 | $0 |
Total Cost of Sales | $3,656 | $7,733 | $8,682 |
Gross Margin | $134,884 | $269,087 | $302,177 |
Gross Margin % | 97.36% | 97.21% | 97.21% |
Expenses | |||
Payroll | $57,037 | $108,111 | $113,516 |
Sales and Marketing and Other Expenses | $2,200 | $3,500 | $3,500 |
Depreciation | $0 | $0 | $0 |
Rent | $58,800 | $59,500 | $60,000 |
Utilities | $10,500 | $10,500 | $10,500 |
Insurance | $7,200 | $7,200 | $7,200 |
Payroll Taxes | $8,556 | $16,217 | $17,027 |
Other | $0 | $0 | $0 |
Total Operating Expenses | $144,293 | $205,027 | $211,744 |
Profit Before Interest and Taxes | ($9,409) | $64,059 | $90,433 |
EBITDA | ($9,409) | $64,059 | $90,433 |
Interest Expense | $3,819 | $3,144 | $2,440 |
Taxes Incurred | $0 | $18,275 | $26,398 |
Net Profit | ($13,228) | $42,641 | $61,595 |
Net Profit/Sales | -9.55% | 15.40% | 19.81% |
The following cash flow projections show the annual amounts only, significant for the first year mainly in the amounts projected in cash sales and payables.
Cash flow projections are critical to the success of Kid’s Community College®. The monthly cash flow is shown in the illustration, with one bar representing the cash flow per month and the other the monthly cash balance. The annual cash flow figures are included here and the more important detailed monthly numbers are included in the appendices.
Pro Forma Cash Flow | |||
Year 1 | Year 2 | Year 3 | |
Cash Received | |||
Cash from Operations | |||
Cash Sales | $138,540 | $276,820 | $310,859 |
Subtotal Cash from Operations | $138,540 | $276,820 | $310,859 |
Additional Cash Received | |||
Sales Tax, VAT, HST/GST Received | $0 | $0 | $0 |
New Current Borrowing | $0 | $0 | $0 |
New Other Liabilities (interest-free) | $0 | $0 | $0 |
New Long-term Liabilities | $0 | $0 | $0 |
Sales of Other Current Assets | $0 | $0 | $0 |
Sales of Long-term Assets | $0 | $0 | $0 |
New Investment Received | $0 | $0 | $0 |
Subtotal Cash Received | $138,540 | $276,820 | $310,859 |
Expenditures | Year 1 | Year 2 | Year 3 |
Expenditures from Operations | |||
Cash Spending | $57,037 | $108,111 | $113,516 |
Bill Payments | $86,777 | $123,660 | $134,952 |
Subtotal Spent on Operations | $143,814 | $231,771 | $248,468 |
Additional Cash Spent | |||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 |
Principal Repayment of Current Borrowing | $0 | $0 | $0 |
Other Liabilities Principal Repayment | $0 | $0 | $0 |
Long-term Liabilities Principal Repayment | $10,057 | $10,057 | $10,057 |
Purchase Other Current Assets | $0 | $0 | $0 |
Purchase Long-term Assets | $0 | $0 | $0 |
Dividends | $0 | $0 | $0 |
Subtotal Cash Spent | $153,871 | $241,828 | $258,525 |
Net Cash Flow | ($15,331) | $34,992 | $52,334 |
Cash Balance | $50,219 | $85,211 | $137,545 |
The balance sheet in the following table shows managed but sufficient growth of net worth, and a gradually sufficient healthy financial position. The monthly estimates are included in the appendices.
Pro Forma Balance Sheet | |||
Year 1 | Year 2 | Year 3 | |
Assets | |||
Current Assets | |||
Cash | $50,219 | $85,211 | $137,545 |
Other Current Assets | $14,130 | $14,130 | $14,130 |
Total Current Assets | $64,349 | $99,341 | $151,675 |
Long-term Assets | |||
Long-term Assets | $0 | $0 | $0 |
Accumulated Depreciation | $0 | $0 | $0 |
Total Long-term Assets | $0 | $0 | $0 |
Total Assets | $64,349 | $99,341 | $151,675 |
Liabilities and Capital | Year 1 | Year 2 | Year 3 |
Current Liabilities | |||
Accounts Payable | $7,954 | $10,362 | $11,157 |
Current Borrowing | $0 | $0 | $0 |
Other Current Liabilities | $0 | $0 | $0 |
Subtotal Current Liabilities | $7,954 | $10,362 | $11,157 |
Long-term Liabilities | $49,943 | $39,886 | $29,829 |
Total Liabilities | $57,897 | $50,248 | $40,986 |
Paid-in Capital | $59,130 | $59,130 | $59,130 |
Retained Earnings | ($39,450) | ($52,678) | ($10,037) |
Earnings | ($13,228) | $42,641 | $61,595 |
Total Capital | $6,452 | $49,093 | $110,688 |
Total Liabilities and Capital | $64,349 | $99,341 | $151,675 |
Net Worth | $6,452 | $49,093 | $110,688 |
The following table shows the projected businesses ratios for our industry: Child Day Care services, SIC code 8351. Kid’s Community College® expects to maintain healthy ratios for profitability, risk, and return.
Ratio Analysis | ||||
Year 1 | Year 2 | Year 3 | Industry Profile | |
Sales Growth | n.a. | 99.81% | 12.30% | 6.98% |
Percent of Total Assets | ||||
Other Current Assets | 21.96% | 14.22% | 9.32% | 30.21% |
Total Current Assets | 100.00% | 100.00% | 100.00% | 60.28% |
Long-term Assets | 0.00% | 0.00% | 0.00% | 39.72% |
Total Assets | 100.00% | 100.00% | 100.00% | 100.00% |
Current Liabilities | 12.36% | 10.43% | 7.36% | 27.78% |
Long-term Liabilities | 77.61% | 40.15% | 19.67% | 24.23% |
Total Liabilities | 89.97% | 50.58% | 27.02% | 52.01% |
Net Worth | 10.03% | 49.42% | 72.98% | 47.99% |
Percent of Sales | ||||
Sales | 100.00% | 100.00% | 100.00% | 100.00% |
Gross Margin | 97.36% | 97.21% | 97.21% | 100.00% |
Selling, General & Administrative Expenses | 113.51% | 78.74% | 72.22% | 81.45% |
Advertising Expenses | 0.00% | 0.00% | 0.00% | 0.88% |
Profit Before Interest and Taxes | -6.79% | 23.14% | 29.09% | 1.52% |
Main Ratios | ||||
Current | 8.09 | 9.59 | 13.59 | 1.96 |
Quick | 8.09 | 9.59 | 13.59 | 1.56 |
Total Debt to Total Assets | 89.97% | 50.58% | 27.02% | 60.93% |
Pre-tax Return on Net Worth | -205.01% | 124.08% | 79.50% | 2.47% |
Pre-tax Return on Assets | -20.56% | 61.32% | 58.01% | 6.32% |
Additional Ratios | Year 1 | Year 2 | Year 3 | |
Net Profit Margin | -9.55% | 15.40% | 19.81% | n.a |
Return on Equity | -205.01% | 86.86% | 55.65% | n.a |
Activity Ratios | ||||
Accounts Payable Turnover | 11.91 | 12.17 | 12.17 | n.a |
Payment Days | 27 | 27 | 29 | n.a |
Total Asset Turnover | 2.15 | 2.79 | 2.05 | n.a |
Debt Ratios | ||||
Debt to Net Worth | 8.97 | 1.02 | 0.37 | n.a |
Current Liab. to Liab. | 0.14 | 0.21 | 0.27 | n.a |
Liquidity Ratios | ||||
Net Working Capital | $56,396 | $88,979 | $140,517 | n.a |
Interest Coverage | -2.46 | 20.37 | 37.06 | n.a |
Additional Ratios | ||||
Assets to Sales | 0.46 | 0.36 | 0.49 | n.a |
Current Debt/Total Assets | 12% | 10% | 7% | n.a |
Acid Test | 8.09 | 9.59 | 13.59 | n.a |
Sales/Net Worth | 21.47 | 5.64 | 2.81 | n.a |
Dividend Payout | 0.00 | 0.00 | 0.00 | n.a |
Sales Forecast | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Unit Sales | |||||||||||||
Full-time Couples | 0% | 6 | 8 | 10 | 12 | 12 | 10 | 10 | 20 | 27 | 27 | 27 | 30 |
After School Care | 0% | 6 | 6 | 6 | 6 | 6 | 8 | 8 | 15 | 20 | 20 | 20 | 20 |
Summer Camp | 0% | 0 | 0 | 0 | 0 | 0 | 13 | 13 | 0 | 0 | 0 | 0 | 0 |
Part-time Workers/Drop-Ins | 0% | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
Total Unit Sales | 13 | 15 | 17 | 19 | 19 | 32 | 32 | 36 | 48 | 48 | 48 | 51 | |
Unit Prices | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Full-time Couples | $460.00 | $460.00 | $460.00 | $460.00 | $460.00 | $460.00 | $460.00 | $460.00 | $460.00 | $460.00 | $460.00 | $460.00 | |
After School Care | $240.00 | $240.00 | $240.00 | $240.00 | $240.00 | $240.00 | $240.00 | $240.00 | $240.00 | $240.00 | $240.00 | $240.00 | |
Summer Camp | $460.00 | $460.00 | $460.00 | $460.00 | $460.00 | $460.00 | $460.00 | $460.00 | $460.00 | $460.00 | $460.00 | $460.00 | |
Part-time Workers/Drop-Ins | $100.00 | $100.00 | $100.00 | $100.00 | $100.00 | $100.00 | $100.00 | $100.00 | $100.00 | $100.00 | $100.00 | $100.00 | |
Sales | |||||||||||||
Full-time Couples | $2,760 | $3,680 | $4,600 | $5,520 | $5,520 | $4,600 | $4,600 | $9,200 | $12,420 | $12,420 | $12,420 | $13,800 | |
After School Care | $1,440 | $1,440 | $1,440 | $1,440 | $1,440 | $1,920 | $1,920 | $3,600 | $4,800 | $4,800 | $4,800 | $4,800 | |
Summer Camp | $0 | $0 | $0 | $0 | $0 | $5,980 | $5,980 | $0 | $0 | $0 | $0 | $0 | |
Part-time Workers/Drop-Ins | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | |
Total Sales | $4,300 | $5,220 | $6,140 | $7,060 | $7,060 | $12,600 | $12,600 | $12,900 | $17,320 | $17,320 | $17,320 | $18,700 | |
Direct Unit Costs | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Full-time Couples | 2.90% | $13.34 | $13.34 | $13.34 | $13.34 | $13.34 | $13.34 | $13.34 | $13.34 | $13.34 | $13.34 | $13.34 | $13.34 |
After School Care | 1.90% | $4.56 | $4.56 | $4.56 | $4.56 | $4.56 | $4.56 | $4.56 | $4.56 | $4.56 | $4.56 | $4.56 | $4.56 |
Summer Camp | 3.00% | $13.80 | $13.80 | $13.80 | $13.80 | $13.80 | $13.80 | $13.80 | $13.80 | $13.80 | $13.80 | $13.80 | $13.80 |
Part-time Workers/Drop-Ins | 0.00% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
Direct Cost of Sales | |||||||||||||
Full-time Couples | $80 | $107 | $133 | $160 | $160 | $133 | $133 | $267 | $360 | $360 | $360 | $400 | |
After School Care | $27 | $27 | $27 | $27 | $27 | $36 | $36 | $68 | $91 | $91 | $91 | $91 | |
Summer Camp | $0 | $0 | $0 | $0 | $0 | $179 | $179 | $0 | $0 | $0 | $0 | $0 | |
Part-time Workers/Drop-Ins | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Direct Cost of Sales | $107 | $134 | $161 | $187 | $187 | $349 | $349 | $335 | $451 | $451 | $451 | $491 |
Personnel Plan | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Campus Director | 0% | $1,833 | $1,833 | $1,833 | $2,042 | $2,042 | $2,042 | $2,042 | $2,042 | $2,042 | $2,042 | $2,042 | $2,042 |
F/T Instructors | 0% | $1,280 | $1,280 | $1,280 | $1,280 | $1,280 | $1,280 | $1,280 | $2,560 | $2,560 | $2,560 | $2,560 | $2,560 |
P/T Instructors | 0% | $600 | $600 | $600 | $600 | $600 | $1,200 | $1,200 | $1,200 | $1,200 | $1,200 | $1,200 | $1,200 |
Total People | 3 | 3 | 3 | 3 | 3 | 4 | 4 | 5 | 5 | 5 | 5 | 5 | |
Total Payroll | $3,713 | $3,713 | $3,713 | $3,922 | $3,922 | $4,522 | $4,522 | $5,802 | $5,802 | $5,802 | $5,802 | $5,802 |
General Assumptions | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Plan Month | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | |
Current Interest Rate | 7.00% | 7.00% | 7.00% | 7.00% | 7.00% | 7.00% | 7.00% | 7.00% | 7.00% | 7.00% | 7.00% | 7.00% | |
Long-term Interest Rate | 7.00% | 7.00% | 7.00% | 7.00% | 7.00% | 7.00% | 7.00% | 7.00% | 7.00% | 7.00% | 7.00% | 7.00% | |
Tax Rate | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | |
Other | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Pro Forma Profit and Loss | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Sales | $4,300 | $5,220 | $6,140 | $7,060 | $7,060 | $12,600 | $12,600 | $12,900 | $17,320 | $17,320 | $17,320 | $18,700 | |
Direct Cost of Sales | $107 | $134 | $161 | $187 | $187 | $349 | $349 | $335 | $451 | $451 | $451 | $491 | |
Hidden Row | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Total Cost of Sales | $107 | $134 | $161 | $187 | $187 | $349 | $349 | $335 | $451 | $451 | $451 | $491 | |
Gross Margin | $4,193 | $5,086 | $5,979 | $6,873 | $6,873 | $12,251 | $12,251 | $12,565 | $16,869 | $16,869 | $16,869 | $18,209 | |
Gross Margin % | 97.50% | 97.43% | 97.38% | 97.35% | 97.35% | 97.23% | 97.23% | 97.40% | 97.39% | 97.39% | 97.39% | 97.37% | |
Expenses | |||||||||||||
Payroll | $3,713 | $3,713 | $3,713 | $3,922 | $3,922 | $4,522 | $4,522 | $5,802 | $5,802 | $5,802 | $5,802 | $5,802 | |
Sales and Marketing and Other Expenses | $0 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | |
Depreciation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Rent | $4,900 | $4,900 | $4,900 | $4,900 | $4,900 | $4,900 | $4,900 | $4,900 | $4,900 | $4,900 | $4,900 | $4,900 | |
Utilities | $875 | $875 | $875 | $875 | $875 | $875 | $875 | $875 | $875 | $875 | $875 | $875 | |
Insurance | $600 | $600 | $600 | $600 | $600 | $600 | $600 | $600 | $600 | $600 | $600 | $600 | |
Payroll Taxes | 15% | $557 | $557 | $557 | $588 | $588 | $678 | $678 | $870 | $870 | $870 | $870 | $870 |
Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Total Operating Expenses | $10,645 | $10,845 | $10,845 | $11,085 | $11,085 | $11,775 | $11,775 | $13,247 | $13,247 | $13,247 | $13,247 | $13,247 | |
Profit Before Interest and Taxes | ($6,452) | ($5,759) | ($4,866) | ($4,213) | ($4,213) | $475 | $475 | ($683) | $3,621 | $3,621 | $3,621 | $4,961 | |
EBITDA | ($6,452) | ($5,759) | ($4,866) | ($4,213) | ($4,213) | $475 | $475 | ($683) | $3,621 | $3,621 | $3,621 | $4,961 | |
Interest Expense | $345 | $340 | $335 | $330 | $326 | $321 | $316 | $311 | $306 | $301 | $296 | $291 | |
Taxes Incurred | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Net Profit | ($6,797) | ($6,099) | ($5,201) | ($4,543) | ($4,538) | $155 | $160 | ($993) | $3,315 | $3,320 | $3,325 | $4,670 | |
Net Profit/Sales | -158.08% | -116.84% | -84.71% | -64.35% | -64.28% | 1.23% | 1.27% | -7.70% | 19.14% | 19.17% | 19.20% | 24.97% |
Pro Forma Cash Flow | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Cash Received | |||||||||||||
Cash from Operations | |||||||||||||
Cash Sales | $4,300 | $5,220 | $6,140 | $7,060 | $7,060 | $12,600 | $12,600 | $12,900 | $17,320 | $17,320 | $17,320 | $18,700 | |
Subtotal Cash from Operations | $4,300 | $5,220 | $6,140 | $7,060 | $7,060 | $12,600 | $12,600 | $12,900 | $17,320 | $17,320 | $17,320 | $18,700 | |
Additional Cash Received | |||||||||||||
Sales Tax, VAT, HST/GST Received | 0.00% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
New Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Other Liabilities (interest-free) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Sales of Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Sales of Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Investment Received | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Cash Received | $4,300 | $5,220 | $6,140 | $7,060 | $7,060 | $12,600 | $12,600 | $12,900 | $17,320 | $17,320 | $17,320 | $18,700 | |
Expenditures | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Expenditures from Operations | |||||||||||||
Cash Spending | $3,713 | $3,713 | $3,713 | $3,922 | $3,922 | $4,522 | $4,522 | $5,802 | $5,802 | $5,802 | $5,802 | $5,802 | |
Bill Payments | $246 | $7,392 | $7,607 | $7,630 | $7,681 | $7,685 | $7,923 | $7,924 | $8,095 | $8,203 | $8,198 | $8,194 | |
Subtotal Spent on Operations | $3,959 | $11,105 | $11,320 | $11,552 | $11,603 | $12,207 | $12,445 | $13,726 | $13,897 | $14,005 | $14,000 | $13,996 | |
Additional Cash Spent | |||||||||||||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Principal Repayment of Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Other Liabilities Principal Repayment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Long-term Liabilities Principal Repayment | $838 | $838 | $838 | $838 | $838 | $838 | $838 | $838 | $838 | $838 | $838 | $838 | |
Purchase Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Purchase Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Dividends | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Cash Spent | $4,797 | $11,943 | $12,158 | $12,390 | $12,441 | $13,045 | $13,283 | $14,564 | $14,735 | $14,843 | $14,838 | $14,834 | |
Net Cash Flow | ($497) | ($6,723) | ($6,018) | ($5,330) | ($5,381) | ($445) | ($683) | ($1,664) | $2,585 | $2,477 | $2,482 | $3,866 | |
Cash Balance | $65,053 | $58,330 | $52,312 | $46,982 | $41,601 | $41,156 | $40,473 | $38,809 | $41,394 | $43,871 | $46,353 | $50,219 |
Pro Forma Balance Sheet | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Assets | Starting Balances | ||||||||||||
Current Assets | |||||||||||||
Cash | $65,550 | $65,053 | $58,330 | $52,312 | $46,982 | $41,601 | $41,156 | $40,473 | $38,809 | $41,394 | $43,871 | $46,353 | $50,219 |
Other Current Assets | $14,130 | $14,130 | $14,130 | $14,130 | $14,130 | $14,130 | $14,130 | $14,130 | $14,130 | $14,130 | $14,130 | $14,130 | $14,130 |
Total Current Assets | $79,680 | $79,183 | $72,460 | $66,442 | $61,112 | $55,731 | $55,286 | $54,603 | $52,939 | $55,524 | $58,001 | $60,483 | $64,349 |
Long-term Assets | |||||||||||||
Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Accumulated Depreciation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Assets | $79,680 | $79,183 | $72,460 | $66,442 | $61,112 | $55,731 | $55,286 | $54,603 | $52,939 | $55,524 | $58,001 | $60,483 | $64,349 |
Liabilities and Capital | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Current Liabilities | |||||||||||||
Accounts Payable | $0 | $7,138 | $7,353 | $7,374 | $7,425 | $7,420 | $7,659 | $7,654 | $7,822 | $7,929 | $7,925 | $7,920 | $7,954 |
Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Other Current Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Subtotal Current Liabilities | $0 | $7,138 | $7,353 | $7,374 | $7,425 | $7,420 | $7,659 | $7,654 | $7,822 | $7,929 | $7,925 | $7,920 | $7,954 |
Long-term Liabilities | $60,000 | $59,162 | $58,324 | $57,486 | $56,648 | $55,810 | $54,972 | $54,134 | $53,295 | $52,457 | $51,619 | $50,781 | $49,943 |
Total Liabilities | $60,000 | $66,300 | $65,677 | $64,860 | $64,073 | $63,230 | $62,631 | $61,788 | $61,117 | $60,387 | $59,544 | $58,701 | $57,897 |
Paid-in Capital | $59,130 | $59,130 | $59,130 | $59,130 | $59,130 | $59,130 | $59,130 | $59,130 | $59,130 | $59,130 | $59,130 | $59,130 | $59,130 |
Retained Earnings | ($39,450) | ($39,450) | ($39,450) | ($39,450) | ($39,450) | ($39,450) | ($39,450) | ($39,450) | ($39,450) | ($39,450) | ($39,450) | ($39,450) | ($39,450) |
Earnings | $0 | ($6,797) | ($12,897) | ($18,098) | ($22,641) | ($27,179) | ($27,024) | ($26,865) | ($27,858) | ($24,543) | ($21,223) | ($17,898) | ($13,228) |
Total Capital | $19,680 | $12,883 | $6,783 | $1,582 | ($2,961) | ($7,499) | ($7,344) | ($7,185) | ($8,178) | ($4,863) | ($1,543) | $1,782 | $6,452 |
Total Liabilities and Capital | $79,680 | $79,183 | $72,460 | $66,442 | $61,112 | $55,731 | $55,286 | $54,603 | $52,939 | $55,524 | $58,001 | $60,483 | $64,349 |
Net Worth | $19,680 | $12,883 | $6,783 | $1,582 | ($2,961) | ($7,499) | ($7,344) | ($7,185) | ($8,178) | ($4,863) | ($1,543) | $1,782 | $6,452 |
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Launching a successful child care business requires careful planning and preparation. Having a comprehensive Business Plan Template & Guidebook is essential to ensure that you have all the necessary resources and strategies to achieve your goals. The #1 Child Care Business Plan Template & Guidebook is the ultimate tool that offers comprehensive guidance and detailed instruction on how to develop a comprehensive business plan specific to the needs of your child care business.
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1. describe the purpose of your child care business..
The first step to writing your business plan is to describe the purpose of your child care business. This includes describing why you are starting this type of business, and what problems it will solve for customers. This is a quick way to get your mind thinking about the customers’ problems. It also helps you identify what makes your business different from others in its industry.
It also helps to include a vision statement so that readers can understand what type of company you want to build.
Here is an example of a purpose mission statement for a child care business:
Our purpose is to create an environment for children to learn and grow in a safe, nurturing, and enriching space. We strive to provide an exceptional early learning experience that is fun, engaging, and tailored to the individual needs of each child. We value collaboration with parents/guardians as partners in their child’s development, and we aim to promote a lifelong love of learning.
The next step is to outline your products and services for your child care business.
When you think about the products and services that you offer, it's helpful to ask yourself the following questions:
You may want to do a comparison of your business plan against those of other competitors in the area, or even with online reviews. This way, you can find out what people like about them and what they don’t like, so that you can either improve upon their offerings or avoid doing so altogether.
If you don't have a marketing plan for your child care business, it's time to write one. Your marketing plan should be part of your business plan and be a roadmap to your goals.
A good marketing plan for your child care business includes the following elements:
Next, you'll need to build your operational plan. This section describes the type of business you'll be running, and includes the steps involved in your operations.
In it, you should list:
The second part of your child care business plan is to develop a management and organization section.
This section will cover all of the following:
This section should be broken down by month and year. If you are still in the planning stage of your business, it may be helpful to estimate how much money will be needed each month until you reach profitability.
Typically, expenses for your business can be broken into a few basic categories:
Startup Costs
Startup costs are typically the first expenses you will incur when beginning an enterprise. These include legal fees, accounting expenses, and other costs associated with getting your business off the ground. The amount of money needed to start a child care business varies based on many different variables, but below are a few different types of startup costs for a child care business.
Running & Operating Costs
Running costs refer to ongoing expenses related directly with operating your business over time like electricity bills or salaries paid out each month. These types of expenses will vary greatly depending on multiple variables such as location, team size, utility costs, etc.
Marketing & Sales Expenses
You should include any costs associated with marketing and sales, such as advertising and promotions, website design or maintenance. Also, consider any additional expenses that may be incurred if you decide to launch a new product or service line. For example, if your child care business has an existing website that needs an upgrade in order to sell more products or services, then this should be listed here.
A financial plan is an important part of any business plan, as it outlines how the business will generate revenue and profit, and how it will use that profit to grow and sustain itself. To devise a financial plan for your child care business, you will need to consider a number of factors, including your start-up costs, operating costs, projected revenue, and expenses.
Here are some steps you can follow to devise a financial plan for your child care business plan:
Why do you need a business plan for a child care business.
A business plan is an essential tool for any business, including a child care business. It provides a roadmap for setting up and running the business, including the financial plan, marketing strategy, operational structure, and goals and objectives. It helps guide the business owner to make informed decisions about the future of the business and serves as a reference tool for potential lenders or investors. The business plan also helps ensure that the child care business is compliant with all relevant government laws and regulations.
For help with your child care business plan, you should consider consulting a professional business planner or accountant to help you create a comprehensive and effective plan. You may also want to speak to other child care providers in your area for advice, or attend seminars and workshops on how to develop a successful business plan. Additionally, there are many resources available online to help you with the basics of business planning.
Yes, you can write a child care business plan yourself. Doing so will require you to research the local market conditions and competition, create financial projections, craft a mission and vision statement, define your target customer base, map out your services and pricing structure, create operational processes and outline a marketing strategy. It is important to be as thorough as possible when creating this plan in order to make sure you are prepared for success.
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Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.
From assessing market viability and formulating business plans to selecting the right technology and navigating the financial landscape, I am dedicated to helping fellow entrepreneurs overcome challenges and unlock their full potential. As a steadfast advocate for small business success, my mission is to pave the way for a new generation of innovative and driven entrepreneurs who are ready to make their mark on the world.
The hardest part of starting a daycare center is knowing where to start. LegalZoom tells you how to turn your wish into a reality.
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by Swara Ahluwalia
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Updated on: August 29, 2024 · 12 min read
How to open a daycare in 10 steps, how to get started with your new business.
Despite the rise of remote work, the demand for daycare services is at an all-time high. According to Grand View Research, a leading research publication, the U.S. child care industry stood at $63 billion as of 2023, and the market is expected to grow by another 5.86% through 2030.
For an entrepreneur looking to start a small business in child care, these numbers certainly exhibit opportunities for success and profit. But where does one begin?
Let LegalZoom help. Learn how to start the daycare center of your dreams.
We’d say yes! This year and the coming years are poised to be lucrative times to step into the child care market. Trends driving this surge in demand include:
From a business standpoint, a child care business presents ongoing demand and exciting prospects. Here are some numbers to back that up.
Excited about working with children and running your own business? The pathway to success begins with market research.
The child care business has stiff competition, and to be successful, you need to know what you’re up against and what you need to do.
Here are a few steps that help you dig deep and assess whether a child care center is a viable business idea.
Many people have successful child care centers operating from their homes or basements when state law permits. If you plan to go that route, ensure you have a safe and sufficient place in your house that doesn’t disturb your own children or family members' daily routines.
If you need to look externally, run an online search and contact local recreational clubs, gyms, churches, and other small businesses. Often, they will have an underutilized space they can rent out at an affordable price.
Location parameters to keep in mind while you go space hunting include:
After you have narrowed down location options, check with your local zoning, fire, homeowner association, and health department for compliance requirements.
Having an idea isn’t enough; to operate a successful daycare center you need a well-thought-out business plan that includes everything from competitor analysis to financial statements, marketing strategy, and details about managing conflicts.
Your business plan should detail the following:
The more planning and prep work done upfront, the higher the chances of success. SCORE offers a business plan template that can ensure a strong start off the blocks.
Securing the right licenses, permits, and certifications is one of the most important aspects of starting any business. These licenses and certifications protect your business from unfavorable conditions and often inform your customers about your commitment to safety.
Licenses and permits that you may require are:
Most permits and licensing requirements are regulated by the state government. Also, the licenses and permits required depend on the size of the daycare and whether you are operating from your home or a commercial place. LegalZoom’s Business Licenses service can help identify and meet your licensing requirements.
The financial aspect of your child care center business might not be as fun as selecting a name or designing the space. Still, it’s a catalyst that gets you one step closer to becoming a successful entrepreneur.
Can’t bootstrap your way into business and require external financial assistance? Don't panic, here are a few alternative sources of money that you can look at:
This is the best part! Proper design and layout of your daycare can be instrumental in fostering a nurturing environment where kids can thrive and grow. The challenge you might face is designing an aesthetically pleasing and functional that abides by the required safety regulations. You can hire an interior designer or get ideas from Pinterest to overcome this hurdle.
While designing, factor in the following:
Running a daycare center requires massive investment in supplies and equipment—from tables and chairs, disinfectants, wipes, and books to toys and bibs and various art materials. You can search online marketplaces to find preloved materials at a bargain or explore suppliers like Discount School Supply and Lakeshore Learning.
The need to hire staff depends on your state of residence as well as the age and number of children in your daycare. For example, in New York State, a child care center must have one adult for every six children under the age of six.
Your state’s Office of Child and Family Services or licensing agency can inform you of the required staff-to-children ratio and the necessary qualifications and experience for hired staff.
There are still more things you have to complete after you have identified the number of people you need:
An employment attorney can steer you away from legal issues and ensure you’re following your state’s employment laws and mandates while hiring and managing your staff.
This business handbook is the master blueprint your daycare runs on. If you have any doubts or confusion about how to deal with the families or your staff, the handbook should have the answers.
For families, the handbook should cover crucial logistical information, such as:
For your staff, the employment handbook should include:
You can have the best daycare in the area, but nobody will know about it if you don’t market it. And by marketing, we don’t just mean a few flyers or social media posts; an entire strategy has to be set that addresses the question, “Why should families choose you?”
To start, pick a creative name for your daycare and design a logo. You can collaborate with a graphic designer or utilize online design tools like Canva and Snappa. Getting a trademark can protect your business from potential copycats.
In today’s world, an online presence is a must. Develop a business website and social media presence. You don’t need to be active on all channels—just the ones that resonate with your target audience.
Pro tip: Get a website domain name and social media handle that matches your business name. It will create brand consistency and make it easier for parents to find you.
A free and powerful marketing tool is to set up a Google Business Profile. Collaborate with local businesses, like libraries, gyms, restaurants, and grocery stores, to advertise your business. Also, getting featured in a local newspaper or hosting an open house or free parenting class can also go a long way.
This is premiere night, and you should put on a show to get people through the door. You’ve one shot to make a positive impression, so give this your all.
A popular and effective way of getting people through the door is to host an opening with engaging activities that speak to your target group. Consider offering:
This allows you to showcase your skills while potential clients get first-hand experience of what it would be like for their child. To boost brand recall, make sure every person who attends leaves with a memorable freebie with your daycare’s name and logo, such as tote bags, stationery items, or even a T-shirt.
Pro tip: You can further encourage attendees to submit enrollment forms by offering a special discount, such as waived registration fees or a significant discount.
Starting a business is challenging, but it’s also the most rewarding and fulfilling experience. We understand that the start-up to-do list may seem endless, but remember, you don’t have to do it all on your own.
We can turn your passion for transforming future generations into a thriving business with our Business Formation services. With the right information and resources for every big or small question, our start-up experts will smoothen your entrepreneurship journey.
You might be able to, but it’s best to check with your local licensing authority about the number of kids you can care for and the space requirements for a home-based daycare.
It’s difficult to pinpoint an exact figure because it depends on the number of kids enrolled, operational costs, location, and competition. If you are in an area with multiple other family child care providers, you will have to keep your rates competitive.
Daycare centers typically require property, workers' compensation, professional, and general liability insurance coverage. An insurance broker can help you pick the right policies for your business.
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Child care business plan, 13+ sample child care business plan, what is child care, what is a child care business plan, what are the types of child care, essential elements of a child care business plan, step by step process in preparing an effective child care business plan, why is having child care a necessity, at what age should the child be receiving child care, are there issues with child care.
1. analyze the target market and start with the basics., 2. assess the needs of your business., 3. write down the parts of the plan and advertise it., 4. proofread and polish the business plan., share this post on your network, you may also like these articles.
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Santa Clara County
We work every day to build the foundations for amazing futures, both for children and for our community.
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Santa clara county childcare resource & referral program.
Finding childcare can be a challenging process. We're here to help.
The Santa Clara County Resource & Referral (SCC R&R) Program’s philosophy is to provide every family and provider with what they need to be successful by implementing the Santa Clara County Office of Education's core values of equity, diversity, inclusion, and partnership.
Referral database.
The SCC R&R Program maintains a childcare referral database, known as the Santa Clara County Childcare Portal, with information about the licensed childcare programs in the county. This information helps parents find licensed childcare that best meets their family’s needs.
The R&R Program also provides training, shares information about current childcare topics, and provides technical support to licensed providers while also helping anyone interested in becoming a licensed provider navigate through the state licensing process.
In addition, the R&R program helps local communities understand childcare issues and needs by providing up-to-date data about licensed childcare capacity and the number of childcare facilities available to help inform local plans and initiatives aimed at addressing local childcare needs.
Find information on how to become a licensed provider, business resources, training information, and more!
Start your search for childcare and receive a personalized list of providers. Find resources to help you make a childcare choice that fits your needs.
Learn about community health and safety resources, including information about COVID-19 and developmental screenings.
Choosing quality care, covid-19 info & resources, licensing & business resources, school enrollment.
If you have any trouble locating the child care information you need, please contact us by phone.
1 (415) 882-0234
1 (800) 543-7793
Save the date: our annual joint conference.
Join your peers for an amazing 2024 Joint Conference! The California Child Care Resource & Referral Network and Thriving Families CA are excited to announce that we will once again offer a joint conference in 2024 with both an in-person and virtual option this fall! The In-person conference will be in Sacramento on Oct. 28-30 and the virtual conference will be Nov. 13-14.
We've completely redesigned the website to be informative with video resources, printable checklists, health and safety codes for employment and nanny agencies and ancillary child care centers, parenting tips, and resources for child care providers. Get step-by-step guidance on how to apply to TrustLine, complete with helpful videos and tip sheets, in both English and Spanish, with a whole new look!
“We are relieved that the final budget avoided catastrophic cuts to children and family supports. The lack of childcare or destruction of this infrastructure costs all of us. Child care is an economic issue that makes our state and economy competitive and families strong. Child care funding needs to be growing, and not just maintained at current levels.”
The 2023 California Resource and Referral (R&R) Impact Project Report is now available! The R&R Impact Project quantifies the importance of R&Rs within their communities by highlighting the range of activities and services they deliver and assessing the positive outcomes experienced by parents and providers.
The Child Care Initiative Project (CCIP) offers free training and resources to help you start or grow your home-based child care. Sign up for CCIP emails and connect with your local R&R today!
The 13th biennial California Child Care Portfolio has been released! This presents a unique portrait of child care supply, demand, and cost statewide and county-by-county, as well as information on employment, poverty, and family budgets.
MyChildCarePlan.org is a search and support website designed to help California’s families find the child care they need. The site offers a customizable child care search tool and live support from local specialists to help parents to find the right child care for them. With MyChildCarePlan.org, parents can access reliable child care information they can trust.
Get resources specific to you.
Find information on choosing child care, getting help paying for child care, or other resources.
Do you work with children, or would you like to? Find free trainings about child development, health & safety, trauma-informed care, and more.
We advocate for policies that support working families and their children’s healthy development.
Our research team collects, analyzes, and publishes data on the supply, demand, and cost of child care in California.
Enter your zip code below to find your local child care resource and referral agency. A child care specialist there will work with you to find care that best meets your needs, and create your personalized child care plan. Or, call our toll-free number to speak to an information specialist (available in English and Spanish) 1-800-KIDS-793
TrustLine is California’s official and most comprehensive background check for in-home caregivers (babysitters and nannies). You can check if someone has passed the criminal history background check and is registered with TrustLine by calling: 1-800-822-8490
California child care resource & referral network launches mychildcareplan.org to help families find child care.
The California Child Care Resource & Referral Network, a non-profit organization helping to make reliable child care more affordable and accessible for families in California, has launched MyChildCarePlan.org, a new website specifically developed to provide California's parents with the information they need to make the best possible child care choices for their families.
The Institute for Research on Labor and Employment at University of California, Berkeley, has released their report on the CA Workforce study on early educator compensation.
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Children's backpacks and shoes are seen at a daycare franchise, in Langley, B.C. A report released this week from the Childcare Resource and Research Unit assesses the federal Early Learning and Child Care program, saying there were about 635,000 regulated full-day child-care spaces for children 0 to 5 years old across Canada as of 2023, an increase of about 45,000 since 2021. DARRYL DYCK/The Canadian Press
The federal government’s national child-care plan has significantly cut costs across the country and created tens of thousands of new spaces, but there are still only enough spots for fewer than a third of children, and much of that added capacity is from for-profit operators, according to a new report from a non-profit research group.
The Childcare Resource and Research Unit released a report this week that assesses the federal Early Learning and Child Care program as of 2023. Ottawa launched the $27-billion program in 2021 with a goal of bringing daycare costs to $10 a day.
However, the program has seen mixed success across the country and has faced criticism for a slow and uneven rollout that has been hampered by a shortage of available spaces. The federal government has also clashed with provincial governments, notably Alberta and Ontario, over the role of private, for-profit operators.
Ottawa set a target of reducing fees by 50 per cent by the end of 2022 and an average cost of $10 a day by 2026. Last year, the government established a $625-million fund to help provinces and territories create child-care spaces in communities that currently do not have enough.
Martha Friendly, executive director of the research unit, said the full impact of this funding has not yet been felt. She said while the federal daycare program has cut fees dramatically in most provinces and created additional spaces, she was critical of the expansion of for-profit child care.
“There has been expansion, and we need more expansion that is equitably distributed,” Ms. Friendly said.
The group’s report says there were about 635,000 regulated full-day child-care spaces for children 0 to 5 years old across Canada as of 2023, an increase of about 45,000 since 2021. Those figures do not include part-time spaces, before- and after-school spaces and other types of services such as in-home care.
The largest percentage change among the provinces was in Alberta, where there were 10,593, an increase of 16 per cent in two years, followed by Nova Scotia, which had 1,689 new spaces, a change of about 15 per cent. The lowest was in PEI, which had just 132 new spaces, or 0.3 per cent, followed by Newfoundland at 694 new spaces, an increase of 1.5 per cent.
The report says there are enough spaces for 31 per cent of children across the country, up from 28 per cent in 2021.
Genevieve Lemaire, press secretary to the federal Minister of Families, Children and Social Development, Jenna Sudds, said while building this kind of system “does not happen overnight,” the report shows that the country’s investments and vision are working.
Ms. Lemaire said the Minister is committed to working with the provinces and territories to reach the target of an average of $10 a day by 2026. “We welcome the report and look forward to exploring its findings,” she said.
The Childcare Resource and Research Unit points to an increase in for-profit centres, which account for 40 per cent of the growth across the country.
Alberta has the highest proportion of for-profit centres. The report says for-profit providers account for 75 per cent of the province’s full-day centre spaces for children up to the age of five. Two-thirds of new spaces were for-profit, the report says.
Alberta has previously clashed with the federal government over the role of for-profit providers and how much profit they can earn while still qualifying for public funding. The province and Ottawa signed an agreement last year allowing providers to generate a “reasonable profit” but also requiring that surplus earnings be directed toward improving child-care services.
Matt Jones, Alberta’s Minister of Jobs, Economy and Trade in Alberta, said in an e-mailed statement that the province has reduced fees for parents to an average of $15 a day in the past 12 months. He added that since November, 2021, Alberta has increased the number of regulated spaces for children from the age of zero to kindergarten by 25,000.
“Our government remains committed to safe, high quality, affordable and inclusive child care that empowers parents to pursue their careers, training and post-secondary opportunities that help drive Alberta’s economy forward,” Mr. Jones said.
In an e-mail to The Globe, Esme Mills, spokeswoman for British Columbia’s Ministry of Education and Child Care, said the province has funded the creation of more than 39,000 new child-care spaces with more to come, including spaces on school grounds and has eliminated waiting-list fees and increased wages for early childhood educators.
“While we know cutting the cost of child care in half is helping families, we know families still need more support with the cost of child care,” Ms. Mills said.
Ontario has also pushed back at the federal government’s preference for non-profit providers. The two governments announced a deal last month to cap fees at $22 a day and allow for-profit providers to earn a profit of eight per cent.
Edyta McKay, spokesperson for the Minister of Education in Ontario, said in a statement that the federal government must provide more funding and lift the cap on for-profit providers.
Krystal Churcher, chair for the Association of Alberta Childcare Entrepreneurs, said she believes there needs to be less government involvement in child care. Ms. Churcher, who has owned and operated her own child-care centres for over a decade, said the $10-a-day program doesn’t represent the needs of families across the provinces and fails to respect the work of private child-care spaces like hers across the country that have been depended on by families and governments for decades.
“It cuts them right out and just disregards that investment, and it’s really forcing a one-size-fits-all,” Ms. Churcher said.
She said while she appreciates the data in the Childcare Resource and Research Unit’s report and has relied on the group’s statistics in the past, she doesn’t think it accurately presents all experiences in child care.
“There’s very little representation of our perspective of working in child care,” she said, adding there is a lot of debate about non-profit versus for-profit child care and which is better. Regardless of business model, she said all child care follows the same standards and regulations for quality, safety and health.
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In the united states, many say tipping is expected in more places these days. here’s how tipping culture exploded..
This transcript was created using speech recognition software. While it has been reviewed by human transcribers, it may contain errors. Please review the episode audio before quoting from this transcript and email [email protected] with any questions.
Hello. Excuse me?
My name is Sabrina. This is Claire. We’re journalists. Could we ask you a question?
You just did.
[LAUGHS]: Another one. [UPBEAT MUSIC]
What is your view of tipping?
I think it’s become excessive. Whatever they do, they got that jar and they’re wanting you to put a tip in there.
They have the iPad. And it’s like, all right, how much you want to tip? And it’s like you bought a $5 coffee. It’s like, all right, well, tip $3.
There’s a lot of pressure. You feel like you have to tip. And I feel like people are watching you at that moment.
Yeah, yeah. I feel a lot more pressure to tip more. Wages haven’t kept up, so I feel like I should be tipping more. And it’s annoying because my wages haven’t gone up either, so it’s annoying.
The other day I just bought a loaf of bread, and the tip thing came up, gave me the option of 15 percent or 20 percent. Do I really have to tip somebody to buy a loaf of bread?
I went to the self-service machine. And it was like, add a tip. And it’s like add a tip for what? I’m the one that did the work, you know what I’m saying?
You’re like, I should be tipping myself.
I actually am a tip worker. We’re literally paid less wages in order for the customers to pay us.
What do tips mean for you and your work?
It’s how I feed my family.
Yes. 100 percent.
Unless you work in the service industry, you don’t really understand how crucial tipping is.
Tips mean a lot. They are 60 percent, 50 percent of my paycheck. And my hourly is pretty low to begin with.
Whatever I get at the end of the night goes towards dinner. Or for example, I didn’t have money for sanitary pads one time. And then that tip, grabbed it.
I feel like a lot of people feel like you did nothing for me. You just put a cup on the counter and I took it. Like, why should I pay you extra for that?
What do you say to someone who says that? You didn’t do anything, you just put my food in a bag.
If you knew what my paycheck looked every week, you would think different. Or maybe not, maybe you don’t feel bad for me and you’re like, get a different job. But like, this is a job I’m good at and the job I like. And I’d like to be able to make a living off of it. That extra dollar or two really makes a difference.
From “The New York Times,” I’m Sabrina Tavernise and this is “The Daily.”
Tipping, once contained to certain corners of the economy, has exploded, creating confusion and angst and now even becoming an issue in the presidential campaign. Today, economics reporter, Ben Casselman, cracks open the mystery of this new era of tipping.
It’s Thursday, August 29.
So Sabrina.
Can I ask you a personal question?
What is your philosophy on tipping?
[LAUGHS]: Exactly.
Sabrina, I think I’m a sucker. Look, I’ve always tried to be a good tipper in restaurants. It feels like part of the deal.
I worked as a waitress for many years. That was the only way I actually made money. If there’s no tip, there’s no salary. Restaurants, it’s a rule.
Absolutely. But now tipping is everywhere. You see these tip screens in places you never would have tipped before. I mean, never mind the coffee shop, you see it at the fast food place. You see it at the oil change place. I’ve heard stories of people seeing it at the self-checkout line. Who’s even getting that tip?
And every time a tip screen pops up, I always tip.
Oh, my god, Ben, so do I.
It’s totally irrational. I hate it. But there’s some part of me, and I don’t love this about myself, that is just convinced somebody is going to be sitting there judging me or I’m terrified that they’re going to. And, oh, my god, if I click No Tip, am I a bad person?
And someone behind me in line might see that.
I can’t click that No Tip button.
I am exactly the same. Every single time I’m presented with this iPad screen thingy, the tips come up. I press max, 30 percent. My husband, an economist, thinks this is ridiculous.
He says, you’re tipping 30 percent on a bottle of water someone just handed you. Don’t do that. That is crazy. But I keep doing it because I can, so I should. I don’t know, I have guilt about it.
Your husband is objectively correct. This is crazy. But tipping is not about objective cold economic logic. It’s emotional. It’s cultural.
There are norms around it. And right now, we have no idea what those norms are. And so we’re all stuck in this panicked moment of trying to decide which button you press and whether you should be expected to tip in this circumstance.
OK, so we are both suckers. We’ve established that. What we need to do now is figure out this panicked moment. I want you to explain this to me, Ben. Why has tipping exploded?
I think there are three reasons. The first of these is just technology. Several years ago, we started to see these tablet-based checkout systems everywhere. And it’s very easy to just add a tip screen onto there, that little, do you want to add a tip, 10 percent, 15 percent, 20 percent.
Right. And as I had less cash and then no cash in my wallet, this was always the way I paid for things.
Yeah, so it became very easy technologically to add tipping. But then the real shift came in the pandemic.
If you think back to that moment, many of us were lucky enough to be able to work from home and to be relatively safe. And we felt a lot of gratitude for the people who weren’t able to do that, who were bringing us food and delivering groceries. And so there was an explosion in tipping. And an explosion in tipping, even in places where we didn’t used to tip.
If you go and pick up takeout at a restaurant, you probably always tip your delivery driver. But if you went to the restaurant and you picked it up, you didn’t tip there. But now in the pandemic moment, they add a tip screen saying, would you like to tip? And yeah, of course, I’d like to tip. These people are risking their lives out there to make my chicken tikka masala.
Right. You basically wanted to tip the UPS guy.
Yes. And so we were tipping everybody. And so that allowed tipping to spread into these new areas. It got a beachhead in places where it didn’t used to be.
And maybe if the story ended there, it would have been this moment in time and then it all would have gone back to the way it always used to be. But that didn’t happen because we had this intense worker shortage when things started to reopen.
And how does that fit into this?
Businesses start to reopen. They need workers. They’re having a hard time finding them. Workers are reluctant to come back for all sorts of reasons. And tipping became a way of attracting workers.
Businesses were paying more, but they were also looking for other ways to get workers. And saying, we’ll add a tip screen that’ll boost your pay further. And if there’s one coffee shop where there’s a tip screen and there’s another coffee shop where there isn’t, you can be pretty sure which one you’re going to go work at.
Completely. I mean, we were talking to workers yesterday, and they were very specific about which chain stores allowed tips and which ones didn’t. And they much preferred working for the ones that allowed tips. I mean, it makes sense.
And I asked them, as a proportion of your earnings, how much are tips? Tips are a lot. Does that mean you make less in the place that doesn’t have the screen that allows it? Absolutely.
We saw workers demanding this. In fact, when some Starbucks stores were unionizing, one of the things they demand is, we want to be able to take tips on credit card payments.
Interesting, yeah.
This became a source of negotiation between businesses and their workers. And the thing is, once that happens, it’s really hard to put the genie back in the bottle.
But why? I mean, this all sprung up into our lives in the matter of a couple of years. So why can’t it go back to the way it was just as quickly?
Imagine that coffee shop worker that you were talking to yesterday, who’s now making, in many cases, 20 percent, 30 percent, even 40 percent of their earnings in tips. The business can’t just say, never mind, we’re going to get rid of the tip screen. Maybe, we’ll put out a tip jar and people can leave $1 or $2 when they want to. That’s a huge pay cut for that worker.
OK, they could instead say we’re going to get rid of tipping and we’re going to raise your pay. Instead of paying you $15 an hour and $5 in tips, we’ll give you $20 an hour. But now the business is going have to raise prices as a result.
And you, Sabrina, the coffee-drinking public are going to say, no way, I’m not going there and paying $8 for my latte or whatever the price may be. And so for the business, they can’t just get rid of the tip, because they can’t just cut off the pay and they can’t raise prices enough to raise pay accordingly.
Right. Nonstarter for the business.
Can’t work for them. And the worker is certainly not going to stick around if they try to do that.
So has there been some experimentation with this? I mean, have restaurants actually tried to go tipless?
Yeah, so we’ve seen an example of exactly this. A few years back, Danny Meyer, a big New York restaurateur, and a bunch of other restaurants as well tried getting rid of tipping completely. They said, this system is unfair, it’s unequal. We’re going to raise wages for everybody, for waiters, but also for cooks.
We’re going to raise our prices, accordingly, to pay for that. And customers will understand. They’ll understand that they’re paying the same amount at the end of the day, it just is in the form of a direct cost instead of a cost plus a tip. And it didn’t work.
For a bunch of reasons. But mostly because customers looked at the price on the menu and people didn’t want to pay it. I also think, look, we all complain about tipping. But customers also kind of like the tip. They kind of like looking generous.
You get to show off to your date or to your father-in-law. And, of course, you can, at least in theory, express your dissatisfaction by withholding a tip or by tipping less. Not you and me, we apparently don’t do that. But some people do, I hear.
The restaurant’s like, suckers, OK, great. Yeah, we don’t even have to worry about them.
Customers rebelled against the idea of not tipping. And most of those restaurants eventually went back to the old model.
Interesting. So we do have this love-hate relationship with tipping.
Yes. We hate being asked, but we like the control. And I think that is part of why all these changes feel so difficult for so many people, because it doesn’t necessarily feel like you have the control anymore.
That screen in front of you with the barista watching you, with the person in line behind watching you —
Oh, my gosh, I’m sweating already.
— you don’t feel like can press the No Tip button. Or at least suckers like you and me don’t.
Exactly. The choice is gone.
The choice is gone. Or the choice, at least, is sort of psychologically more taxing.
Right. [LAUGHS]
You feel pressured to do it.
OK, so that’s the customer experience. But with this new uptick in tipping, one question I always have is, is the worker on the other side of the screen getting this tip or will the business owner pocket it?
The worker is getting the tip with some caveats. By law, the business owner or the managers, they can’t take the tips. If you click a Tip button or you leave $1 in the tip jar or you tip in any way, if that ends up in the pockets of the business owner or the general manager or what have you, that is wage theft. It happens. We certainly hear stories about it happening, but it’s certainly not legal and it’s certainly not the norm.
That doesn’t mean that the worker, the person who hands you your latte, is the person getting your dollar. It often gets pooled across all of the workers who are working that shift or even all of the workers who work over an entire week. But it’s going to the workers.
People like us can rest assured that the workers are getting the full benefit of that tip that you’re pushing.
In many ways, what you are doing as the customer is you are subsidizing the wage. If you, you coffee shop worker, want to get $25 an hour, you don’t care whether that’s $20 in pay and $5 in tip or $25 in pay or any breakdown of that.
$25 is $25.
$25 is $25. When I leave a tip of $1, on some level, that’s $1 less that coffee shop has to pay you, the barista. Tips are helping the business pay their workers. They’re shifting. The business is shifting some of the burden for paying its workers off of its revenue onto its customers.
In other words, you and I, Ben, we are kind of helping foot the bill for these wages.
Absolutely. And from the businesses’ perspective, that’s a pretty great deal, because they basically get to charge, say, $4 for the latte and then for the customers who are willing to pay more, they’re basically charging more. Those people throw on the tip.
It’s a way of the business getting the maximum dollars that it can out of the maximum number of customers that it can attract.
But for workers, this system where they’re increasingly reliant on customer tips carries some real risks.
[UPBEAT MUSIC]
We’ll be right back.
Tell me about these risks of our tipping system.
Look, tipping has always had a lot of problems associated with it. If you think in restaurants, they’re often really big pay disparities where the servers at the front of the house, who are getting tipped, often make a lot more money, especially at a nice restaurant, than the cooks and dishwashers and all of the people at the back of the house.
You hear these stories of people going to cooking school and then basically bailing on the cooking career and becoming waitresses and waiters because it’s just more money.
Yeah. And then within tipped occupations, there’s a lot of inequity here. There have been studies that have shown that a pretty young woman gets tipped better than other people, that white people often get tipped better. There are tons of problems around sexual harassment, because if your earnings are dependent on the table that you’re serving liking you, then maybe you put up with things that workers shouldn’t have to put up with.
Those are the problems that have always existed in this system. But then as tipping spreads, the risk is, first, just more workers have to deal with this, but also that more workers become more dependent on tips for their earnings.
In the short term, this has all worked out pretty well for workers. This has been a period where they’ve been in hot demand, and so their wages have been rising. And at the same time, they’ve gotten all these tips on top of that. And that’s been really great.
But it’s not clear that that’s true over the longer term. Over the long run, you could imagine that all of these businesses get to just raise wages more slowly, that tips sort of eat away at wages over time. And then if we ever see customers pull back a little bit, tip less, then all of a sudden, all of these workers could really suffer.
Basically, you’re describing a system in which the earnings are just more vulnerable, more dependent on the kindness of strangers.
Yeah. And more at risk if those strangers become a little less kind.
Yes. And this issue has become so much a part of the national conversation that it’s actually entered the presidential race. Both former President Trump and Vice President Kamala Harris have announced policy plans to help service workers. And essentially, they’re calling for no tax on tips.
Yeah, that’s right. So President Trump announced this several weeks ago as his big new “no taxes on tips” proposal. Kamala Harris followed up and basically endorsed that proposal, again, a little while later. We don’t have a lot of details on how this would work. But essentially, it would mean that if you earn tips, those tips are exempt at least from federal income tax.
What would that mean?
Let me tell you, economists hate this idea. Left-wing economists and right-wing economists, this is one point they can kind of all agree on.
And why do they hate it?
Because they say it’s unfair. It singles out this one group of workers for special treatment. The person who works at McDonald’s who doesn’t get tipped, they don’t benefit from this. The retail worker doesn’t benefit from this. It’s just this one group of workers who get this special treatment where they don’t have to pay taxes.
Right. Right.
But there’s also maybe an even more fundamental issue, which is that if you think you hate tipping now, if these proposals go through, you’re going to see so much more tipping.
Uh-oh, I’m holding on to my hat.
Because it’s basically a subsidy for tips.
As a worker, we said before, you don’t care whether you make, $25 an hour or $20 plus $5 an hour in tips, except that if some of that money isn’t taxed, you want more of that. You want more tips.
Basically, you want your entire salary to be a tip.
Ideally, right? And so that works great for the business perspective. Great, I don’t need to pay my workers.
[LAUGHS]: Wee!
It’s all tips now. Workers happy about that. What that means is you’re going to see more businesses looking for ways to have their workers count as tipped. Maybe you start to see tips in places that we’re not seeing them at all. Maybe you really do start to pay tips at a retail outlet, at a gas station.
Grocery store?
At a grocery store, why not? And the issue there, beyond just it being annoying for you and me, is that it further ingrains this system. All those problems that we were talking about in tipping now involves even more workers across the economy. And they’re even more vulnerable to that possibility that you and I start tipping a little bit less.
Ben, how would you describe where we are in this tipping moment? Is this just the new normal?
I think we’re still in a period of transition here. The fact that we’re having this conversation on some level tells you that we’re not totally in a new normal yet. You don’t leave a restaurant and say to yourself, man, I can’t believe I was asked to tip. But we’re still all the time having this conversation about, you wouldn’t believe I got asked to tip at the self-checkout.
Right. The bakery, for god’s sake.
It’s still a transition. It’s still happening. Over time, norms will develop. We’ll figure out the places where we tip and the places where we don’t, and how much and all of that.
But the dust hasn’t quite settled yet.
It hasn’t settled. But I think what we do know is that we’re not going back. We’re now going back to a world where we only tip in those set of circumstances where we used to. And remember, this whole transition has happened during a period of relative economic strength, when people have had money to go out and spend and to tip. The question is, what happens when that’s no longer true?
Right. When there’s a recession, people are going to be nervous about their pocketbooks and probably won’t be as generous.
Whenever we get to the next recession, it will be the first one in this new era of tipping.
And there’s a whole new group of workers who are going to lose out when that happens, who are dependent on tips and will suffer when customers start pulling those tips back.
Ben, thank you.
Sabrina, thank you so much. And the screen is just going to ask you a couple of questions at the end here.
[LAUGHS]: Ben, 30 percent.
Here’s what else you should know today. On Wednesday, at least 10 Palestinians were killed when hundreds of Israeli troops launched major raids overnight in the occupied West Bank, targeting Palestinian militants, after what Israel said was months of rising attacks. The operation, the largest since 2023, followed months of escalating Israeli raids in the occupied territory, where nearly three million Palestinians live under Israeli military rule.
And the Supreme Court maintained a temporary pause on a new plan by President Biden to wipe out tens of millions of dollars of student debt. The plan was part of the president’s approach to forgiving debt after the Supreme Court rejected a more ambitious proposal last year that would have canceled more than $400 billion in loans. The scaled-down plan was directed at certain types of borrowers, including people on disability and public service workers. The court’s decision leaves millions of borrowers enrolled in the new plan in limbo.
Today’s episode was produced by Mooj Zadie, Asthaa Chaturvedi, Eric Krupke, and Clare Toeniskoetter. It was edited by Lisa Chow and Brendan Klinkenberg, contains original music by Dan Powell, Marion Lozano, and Rowan Niemisto, and was engineered by Chris Wood. Our theme music is by Jim Brunberg and Ben Landsverk of Wonderly.
[THEME MUSIC]
That’s it for “The Daily.” I’m Sabrina Tavernise. See you tomorrow.
Hosted by Sabrina Tavernise
Featuring Ben Casselman
Produced by Mooj Zadie Asthaa Chaturvedi Eric Krupke and Clare Toeniskoetter
Edited by Lisa Chow and Brendan Klinkenberg
Original music by Dan Powell Marion Lozano and Rowan Niemisto
Engineered by Chris Wood
Tipping, once contained to certain corners of the economy, has exploded, creating confusion and angst. Now, it is even becoming an issue in the U.S. presidential campaign.
Ben Casselman, who covers the U.S. economy for The New York Times, cracks open the mystery of this new era of tipping.
Ben Casselman , a reporter covering the U.S. economy for The New York Times.
How to deal with the many requests for tips .
Former President Donald J. Trump called Vice President Kamala Harris a “copycat” over her “no tax on tips” plan.
There are a lot of ways to listen to The Daily. Here’s how.
We aim to make transcripts available the next workday after an episode’s publication. You can find them at the top of the page.
The Daily is made by Rachel Quester, Lynsea Garrison, Clare Toeniskoetter, Paige Cowett, Michael Simon Johnson, Brad Fisher, Chris Wood, Jessica Cheung, Stella Tan, Alexandra Leigh Young, Lisa Chow, Eric Krupke, Marc Georges, Luke Vander Ploeg, M.J. Davis Lin, Dan Powell, Sydney Harper, Michael Benoist, Liz O. Baylen, Asthaa Chaturvedi, Rachelle Bonja, Diana Nguyen, Marion Lozano, Corey Schreppel, Rob Szypko, Elisheba Ittoop, Mooj Zadie, Patricia Willens, Rowan Niemisto, Jody Becker, Rikki Novetsky, Nina Feldman, Will Reid, Carlos Prieto, Ben Calhoun, Susan Lee, Lexie Diao, Mary Wilson, Alex Stern, Sophia Lanman, Shannon Lin, Diane Wong, Devon Taylor, Alyssa Moxley, Olivia Natt, Daniel Ramirez and Brendan Klinkenberg.
Our theme music is by Jim Brunberg and Ben Landsverk of Wonderly. Special thanks to Sam Dolnick, Paula Szuchman, Lisa Tobin, Larissa Anderson, Julia Simon, Sofia Milan, Mahima Chablani, Elizabeth Davis-Moorer, Jeffrey Miranda, Maddy Masiello, Isabella Anderson, Nina Lassam and Nick Pitman.
Ben Casselman writes about economics with a particular focus on stories involving data. He has covered the economy for nearly 20 years, and his recent work has focused on how trends in labor, politics, technology and demographics have shaped the way we live and work. More about Ben Casselman
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WEATHER ALERT
Having a family is expensive. here's what harris and trump have said about easing costs.
Moriah Balingit
Associated Press
Copyright 2024 The Associated Press. All rights reserved.
FILE - Rylee Monn plays with children in her class at a child care center in Lexington, Ky., March 13, 2024. (AP Photo/Dylan Lovan, File)
WASHINGTON – The high cost of caring for children and the elderly has forced women out of the workforce , devastated family finances and left professional caretakers in low-wage jobs — all while slowing economic growth.
That families are suffering is not up for debate. As the economy emerges as a theme in this presidential election, the Democratic and Republican candidates have sketched out ideas for easing costs that reveal their divergent views about family.
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On this topic, the two tickets have one main commonality: Both of the presidential candidates — and their running mates — have, at one point or another, backed an expanded child tax credit.
Vice President Kamala Harris, who accepted the Democratic Party's nomination last week, has signaled that she plans to build on the ambitions of outgoing President Joe Biden's administration , which sought to pour billions in taxpayer dollars into making child care and home care for elderly and disabled adults more affordable. She has not etched any of those plans into a formal policy platform. But in a speech earlier this month, she said her vision included raising the child tax credit .
Former President Donald Trump, the Republican, has declined to answer questions about how he would make child care more affordable, even though it was an issue he tackled during his own administration. His running mate, Sen. JD Vance of Ohio, has a long history of pushing policies that would encourage Americans to have families, floating ideas like giving parents votes for their children. Just this month, Vance said he wants to raise the child tax credit to $5,000. But Vance has opposed government spending on child care, arguing that many children benefit from having one parent at home as caretaker.
The candidates' care agendas could figure prominently into their appeal to suburban women in swing states, a coveted demographic seen as key to victory in November. Women provide two-thirds of unpaid care work — valued at $1 trillion annually — and are disproportionately impacted when families can’t find affordable care for their children or aging parents. And the cost of care is an urgent problem: Child care prices are rising faster than inflation .
Kamala Harris: Increase the child tax credit
When Harris addressed the Democratic National Convention, she talked first about her own experience with child care. She was raised mostly by a single mother, Shyamala Gopalan, who worked long hours as a breast cancer researcher. Among the people who formed her family's support network was “Mrs. Shelton, who ran the day care below us and became a second mother.”
As vice president, Harris worked behind the scenes in Congress on Biden's proposals to establish national paid family leave, make prekindergarten universal and invest billions in child care so families wouldn't pay more than 7% of their income . She announced, too, the administration's actions to lower copays for families using federal child care vouchers, and to raise wages for Medicaid-funded home health aides. Before that, her track record as a senator included pressing for greater labor rights for domestic workers, including nannies and home health aides who may be vulnerable to exploitation .
This month at a community college in North Carolina, Harris outlined her campaign's economic agenda , which includes raising the child tax credit to as much as $3,600 and giving families of newborns even more — $6,000 for the child's first year.
“That is a vital — vital year of critical development of a child, and the costs can really add up, especially for young parents who need to buy diapers and clothes and a car seat and so much else,” she told the audience. Her running mate selection of Tim Walz, who established paid leave and a child tax credit as governor of Minnesota, has also buoyed optimism among supporters.
Donald Trump: Few specifics, but some past support
For voters grappling with the high cost of child care, Trump has offered little in the way of solutions. During the June presidential debate, CNN moderator Jake Tapper twice asked Trump what he would do to lower child care costs. Both times, he failed to answer, instead pivoting to other topics. His campaign platform is similarly silent. It does tackle the cost of long-term care for the elderly, writing that Republicans would “support unpaid Family Caregivers through Tax Credits and reduced red tape.”
The silence marks a shift from his first campaign, when he pitched paid parental leave, though it was panned by critics because his proposal excluded fathers. When he reached the White House, the former president sought $1 billion for child care, plus a parental leave policy at the urging of his daughter and policy adviser, Ivanka Trump. Congress rejected both proposals, but Trump succeeded in doubling the child tax credit and establishing paid leave for federal employees.
In his 2019 State of the Union address , Trump said he was “proud to be the first president to include in my budget a plan for nationwide paid family leave, so that every new parent has the chance to bond with their newborn child.”
This year, there are signs that his administration might not pursue the same agenda, including his selection of Vance as a running mate. In 2021, before he joined the Senate, Vance co-authored an op-ed for The Wall Street Journal opposing a proposal to invest billions in child care to make it more affordable for families. He and his co-author said expanding child care subsidies would lead to "unhappier, unhealthier children" and that having fewer mothers contributing to the economy might be a worthwhile trade-off.
Vance has floated policies that would make it easier for a family to live off of a single income, making it possible for some parents to stay home while their partners work. Along with his embrace of policies he calls pro-family, he has tagged people who do not have or want children as “sociopaths.” He once derided Harris and other rising Democratic stars as “childless cat ladies,” even though Harris has two stepchildren — they call her “Momala” — and no cats.
Even without details about new care policies, Trump believes that families would ultimately get a better deal under his administration.
The Trump-Vance campaign has attacked Harris’ record on the economy and said the Biden administration’s policies have only made things tougher for families, pointing to recent inflation .
“Harris ... has proudly and repeatedly celebrated her role as Joe Biden’s co-pilot on Bidenomics,” said Karoline Leavitt, a campaign spokeswoman. “The basic necessities of food, gas and housing are less affordable, unemployment is rising, and Kamala doesn’t seem to care.”
The Associated Press’ education coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP’s standards for working with philanthropies, a list of supporters and funded coverage areas at AP.org.
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Traditionally, a marketing plan includes the four P's: Product, Price, Place, and Promotion. For a child care business plan, your marketing plan should include the following: Product: in the product section you should reiterate the type of child care that you documented in your Company Analysis.
Your local government will have rules and regulations you'll need to follow as a small business owner and childcare provider. Start by reviewing the for your state and city. Once you're clear on licensing guidelines, you're ready to start writing your childcare business plan. The purpose of a business plan is to help secure funding.
This daycare business plan example shows you how to include this vital information: "The daycare will be located at 123 Main Street in a commercial space currently leased by the owner. The lease agreement is for three years with an option to renew for an additional three years.
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Child Care Biz Help works mainly with existing and start-up group child care centers. Provided that you have enough room, using your home for the daycare business helps to cut down on costs, but keep in mind home daycares limit the number of children that you can care for, which ultimately restricts the amount of revenue you can earn.
The executive summary should include all the nitty-gritty details of your daycare such as the address, hours of operation, and the number of children it will serve. It should also include what sets you apart from other daycares. The executive summary sets the tone for the rest of the plan so the more information you include here, the better.
Starting a daycare can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.. 1. Develop A Day Care Business Plan - The first step in starting a business is to create a detailed child care business plan that outlines all aspects of the venture. This should include market research on the childcare ...
Explore a real-world child care business plan example and download a free template with this information to start writing your own business plan. ... The Toddler Warehouse's start-up costs include: Legal: $1,000; Stationery etc: $100; Brochures: $350; Art supplies: $150; Kitchen supplies: $200;
Multiply your number from step 1 by .16 to get your predicted profit. Example: Let's say you plan to charge families an average of $315 per week for childcare. With that, your goal is to enroll 60 students by the time your daycare center opens. Multiply $315 x 60 x 12 (annual revenue).
Get the most out of your business plan example. Follow these tips to quickly develop a working business plan from this sample. 1. Don't worry about finding an exact match. We have over 550 sample business plan templates. So, make sure the plan is a close match, but don't get hung up on the details. Your business is unique and will differ from ...
Set one up for your local business in minutes to instantly unlock a following of your most valuable customers: neighbors. Show up in local searches when neighbors look for childcare options near them, share updates as you open and grow, and build trust in your business with recommendations. 5. Daily operations.
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How to Write a Child Care Business Plan in 7 Steps: 1. Describe the Purpose of Your Child Care Business. The first step to writing your business plan is to describe the purpose of your child care business. This includes describing why you are starting this type of business, and what problems it will solve for customers.
If you plan to run a child care business in your home, several design guidelines may help: Define the areas in your home that will be used for your child care business; Place all breakable items out of the reach of the children in your care; Make sure all indoor and outdoor areas are childproof;
Resource Guide: Starting and Operating a Child Care Business Child care can be an exciting and rewarding field. It provides a wonderful opportunity to have an impact on the lives of children and their families; Regardless of one's individual motivation for entering the early care and school-age care field, starting and operating a child care ...
If you plan to run a child care business in your home, several design guidelines may help: ♦ Define the areas in your home that will be used for your child care business. ♦ Place all breakable items out of the reach of the children in your care. ♦ Make sure all indoor and outdoor areas are childproof.
From a business standpoint, a child care business presents ongoing demand and exciting prospects. Here are some numbers to back that up. Approximately 62% of U.S. children population are in some form of child care; Profit margins are a respectable 10%-15% Start-up costs range from $10,000-$50,000
2. Assess the needs of your business. This is roughly similar to some things in the first step. In this step, you can begin by looking at the current trends that are in the child care industry. After that, follow through by beginning to narrow down the choices based on the choices that suit your area the most.
Child Care Licensing Program 744 P Street, MS T9-15-48 Sacramento, CA 95814. Local Regional Offices. Inyo and Del Norte Counties (Family Child Care Homes Only) Child Care Advocates - (916) 654-1541 [email protected].
The SCC R&R Program maintains a childcare referral database, known as the Santa Clara County Childcare Portal, with information about the licensed childcare programs in the county. This information helps parents find licensed childcare that best meets their family's needs. The R&R Program also provides training, shares information about ...
Enter your zip code below to find your local child care resource and referral agency. A child care specialist there will work with you to find care that best meets your needs, and create your personalized child care plan. Or, call our toll-free number to speak to an information specialist (available in English and Spanish) 1-800-KIDS-793.
Child Care Licensing Program 744 P Street, MS T9-15-48 Sacramento, CA 95814. Local Regional Offices. Inyo and Del Norte Counties (Family Child Care Homes Only) Child Care Advocates - (916) 654-1541 [email protected].
Kamala Harris economic policy would expand the childcare tax credit and is part of a broader effort for working families amid a national child-care crisis.
Kaiser Permanente health plans around the country: Kaiser Foundation Health Plan, Inc., in Northern and Southern California and Hawaii • Kaiser Foundation Health Plan of Colorado • Kaiser Foundation Health Plan of Georgia, Inc., Nine Piedmont Center, 3495 Piedmont Road NE, Atlanta, GA 30305, 404-364-7000 • Kaiser Foundation Health Plan of ...
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Ottawa set a target of reducing fees by 50 per cent by the end of 2022 and an average cost of $10 per day by 2026. Last year, the government established a $625-million fund to help provinces and ...
When he reached the White House, the former president sought $1 billion for child care, plus a parental leave policy at the urging of his daughter and policy adviser, Ivanka Trump.
If you, you coffee shop worker, want to get $25 an hour, you don't care whether that's $20 in pay and $5 in tip or $25 in pay or any breakdown of that. sabrina tavernise. $25 is $25. ben casselman
If you need help with the Public File, call (954) 364-2526.
Child care provides an opportunity to have an impact on the lives of children and their families. Starting and operating a child care business is both a personal and a business decision. Child care providers must take the right steps to ensure that their businesses are profitable and sustainable. These providers must abide by federal, state, and local regulations and standards.