Economic Downturn - Should You Start A Day Care?
The experts are very forthcoming with their doom and gloom, the recession is constantly in our faces and fatigue sets in at the mere mention of economics or downturns. Should you start a day care business in spite of all this you ponder? Quite frankly, the right day care business could flourish at a time like this. Tough times for many can be a golden egg for some. Clever entrepreneurs who have done their homework, identified gaps in the market and filled those gaps not only survive a recession, they profit quite nicely.
Times may be tough, downsizing may be the byword of the year yet people will still need to work to survive thus people will still need childcare. Their income levels and conditions of employment may change so they will in turn be looking to make changes in the day care department. Cost will be a huge factor and, sadly, much cost cutting is made in the area of child care. Expensive, fancy day cares will see clientele trickle out in search of more affordable options.
Your day care business can be one of these affordable, more recession friendly options!so, how can you service this niche market? Starting a home day care is considerably less expensive than opening a large day care center. Equipment can be obtained from your kids old stuff, charity shops, recycling sites and persistent calling around to everyone you know who has kids and will be offloading toys and equipment, save on your taxes by offsetting your daily expenses, no more gas bills due to no more work commute and minimize wage costs by staffing it yourself with a friend or family member as an assistant. These are all savings that you can pass on to your clients in terms of fee reductions.
Thorough, market research is vital. Your goal is to make your day care supply a service for which demand is high and provision is scarce in your local community. A structured, quality educational curriculum in a home day care will make you stand out from the competition. A quality learning environment in a home day care is not something ex large day care center clients have been conditioned to expect. You will most likely gain them as clients because you have pleasantly surprised them, you have an edge and you are addressing their needs.
Could the niche in your area be shift work - are there factories, hospitals or industry where people are required to work odd hours? This tends to be a hugely under supplied area of care. Is there a large community of foreign nationals locally who may require a bilingual day care? Most towns have a substantial demand for overnight care which is also generally under supplied. Could this be your gold mine? Parents can find it very difficult to find quality, convenient before and after school care so if your day care is situated close to schools you may have found your niche.
Downturn or not, there is always a demand for certain types of child care. The under supplied niches are out there waiting to be discovered, the gaps waiting to be filled and it is up to you to find them. Clever research and due diligence are the keys to getting it right from the outset. Start your day care the clever, recession proof way.
To discover more about how to start a daycare, visit Child Care Only where you will find this and much more, covering all aspects of starting a daycare center.
- Fiona Lohrenz
