Secure Financing with a Daycare Business Plan
Looking to open your own daycare?
Childcare could be the perfect business for you. Given long waitlists and increasingly busy parents, today daycares are an excellent industry to enter. Get started with your professional childcare business plan today.
TESTIMONIAL
“Newton Group Marketing has been a tremendous help for our business in getting our business plan professionally done. With their expertise, we were able to present a business plan for our financing need to the bank and get it approved. The business plan exceeded the bank expectation. Our business financing manager was very pleased with our business plan, and told us that she has not seen such a detailed well written business plan for years. I cannot thank you enough.”
— VICTOR SHALOM | OWNER OF BLESSED GENERATIONS DAYCARE
COMMON CHALLENGES WHEN WRITING A DAYCARE BUSINESS PLAN
Starting a daycare business is a big decision, and it’s important to have a business plan for daycare in place. A well-written childcare business plan will help you define your goals, identify your target market, and develop a strategy for success. But most importantly, a professional daycare business plan is required to secure bank funding. Common challenges include the following:
▶ UNSURE WHERE TO START - Starting any new business can be daunting, and there are many areas of your business to consider. This includes everything from leasehold improvements, permits, insurance, marketing plan, building the right team and of course securing funding through a business plan for day care. This can be overwhelming and a seasoned business plan for day care writer in your corner makes all the difference.
▶ LACK THE TIME OR KNOWLEDGE TO WRITE A BUSINESS PLAN - Most new childcare business owners struggle to find time to craft a detailed daycare business plan. There also might be areas outside of your knowledge, such as financial projections or business analysis.
▶ TIGHT DEADLINES & COMPETITION - Timing is everything in the scramble for commercial leasing space and a business loan. The challenge is to swiftly present a quality business plan for day care in order before you start proceeding through each step.
▶ STRUGGLE TO FIND A TRUSTED WRITER - There are many factors to consider when selecting a daycare business plan writer, including experience, qualifications, price and fit. When negotiating a large business loan deal under stressful timelines, it’s essential you find a partnership with a daycare business plan writer who is experienced, qualified and you can fully trust. At Newton Group Marketing we have been writing day care business plans for over 12 years, as a leading business plan agency in Canada. Each month we help childcare owners secure financing for their new centre.
▶ UNSURE ABOUT THE NEEDS OF THE FINANCIAL INSTITUTION - We provide you with important information about what the bank or BDC requires in order to release funding. In addition to your financial situation, one of the most important factors is the strength of your childcare business plan. It should include all required sections, business information and analysis for eligibility.
BENEFITS OF WORKING WITH US
Our team is highly experienced in day care business plans and are here to help guide you through the process and create a plan that will set your daycare up for success. Although starting a daycare can be a daunting task, but a well-written daycare business plan, you can secure funding and attract potential investors. Our team has years of experience working with daycare centers and we know what it takes to create a daycare business plan that will stand out in this competitive industry.
▶ MAXIMIZE YOUR CHANCES OF SECURING FUNDING - A professional daycare business plan will significantly increase your chances of securing funding from a bank or investor. We offer the expertise and experience in making sure you present the right information and meet all funding requirements.
▶ IMPROVE YOUR CHANCES OF BUSINESS SUCCESS - Through working with us, you receive a roadmap for your business. It can help identify potential problems and develop the right structure. Daycare business plans should include key information like: Employee count and wages, sales break-even point, pricing and more.
▶ RECEIVE FULL SUPPORT - Having someone in your corner makes all the difference. Through decades of experience helping childcare operators throughout all of Canada, our team of experienced childcare business plan experts help guide you as you navigate the challenges of starting and growing a day care business. We write daycare business plans for clients to help identify funding, structure their business and built a team.
▶ GET ACCESS TO RESOURCES - We give you access to a wide range of resources. Our day care business plans include useful information from market research, industry data, local market information and benchmarks across all small business daycares across Canada. During the daycare business plan writing process You can use these resources to develop a better understanding of your business and its needs.
▶ BENEFIT FROM OUR EXPERTISE - There is no substitute for industry expertise. We bring over a decade of experience over countless industries and business scenarios. This means you can focus on your area of running a childcare centre while we handle the business plan of a daycare. Get maximum clarity on your business operations, your market and opportunity your daycare offers you.
Gregory Newton - Owner & Business Plan Specialist at Newton Group Marketing
ABOUT US | DAY CARE BUSINESS PLAN PROFESSIONALS SINCE 2011
Newton Group Marketing is a leading business plan agency in Canada since 2011. For over a decade our team has worked with thousands of clients to successfully secure financing. We help business owners throughout Canada and the US, to secure funding through TD, RBC, Scotiabank, CIBC, Bank of Montreal, private investors, BDC and more. Our team is made up of business plan professionals, consultants, market research specialists and chartered accountants, specialized in multiple industry sectors. We’ve secured multi-million dollar deals with Canada’s largest M&A firms, leading national franchise brands and government-funded projects. Each month we prepare day care business plans that successfully secure funding for clients.
COMPANIES WE WORK WITH:
WHAT CUSTOMERS ARE SAYING
Important Areas to Consider When Opening a Daycare
1) Understand all Licensing Requirements
Each province in Canada has its own regulations and requirements for daycare operations:
Staff-to-child ratios
Maximum group sizes
Other layout requirements including space requirements and restroom access
Safety standards, including outdoor space and time
Curriculum framework
Nutrition and meals
ECE Certification for caregiver staff
2. Choose the Right Location
There are many factors to consider when selecting the ideal location for your childcare facility:
What Modifications Are Required - Consider how much work will be required to transform the space to meet your layout and space requirements. Remember that leasehold improvement costs are the biggest start-up cost area, and the more modifications required, the higher the construction costs which determines your eventual loan amount.
Accessibility - Think about convenience for parents for pickup and drop off. Areas to consider are proximity to public transportation like metro or bus, as well as access via road or highway, and parking availability.
Convenience - The ideal location is conveniently located near local school and surrounding residential neighbourhoods. You may find a more affordable location in a business park, but should be balanced when considering convenience for parents. It is also beneficial to locate amongst amenities such as shopping areas, coffee shops, banking and more, allowing busy parents to facilitate multiple errands in a single trip.
Think About Underserved Areas - Certain areas have lower density of childcare centres, including new residential developments.
Proximity to your "Target Market" - Ideally, you will be located as conveniently close to parents you aim to serve. Montessori school near higher income communities,
Consider the Noise Issue - A loud daycare in a quiet residential community or business park can be a cause for trouble for your daycare as well as landlord. Consider the noise factor when choosing your location.
Signage & Visibility - Consider how visible the childcare centre is. Remember, the more hidden or obscure the location, the more you will need to initially promote the daycare to drive market awareness.
3. Plan to Attract & Retain Quality Staff
As a childcare centre, your staff is the face of the business for both children and parents alike. In addition to ensuring you have experienced, qualified staff, you should consider retention. High turnover rates can be costly, time consuming and can decrease the quality of service your centre provides. Therefore consider a human resources plan that attracts, trains and retains quality ECE staff. This doesn't necessarily mean in terms of salary, but rather your relationship with your staff and how you treat them, value them and support their career growth.
4) Get Clear on Your Financials
Understand your pricing, overhead costs and options for funding. Take into consideration subsidies and government grants available for you. You should be able to present your net income level at each level towards full child capacity. You will also need to be clear on the approximate funding required to open the business. The funding you have available for "owners investment" will determine the loan size you are able to take on, and therefore your childcare facility size.
5) Develop an Excellent Curriculum
Even for very young children, having a structured program with educational and developmental activities is crucial. Tailor your curriculum to different ages and stages of development. Decide your positioning in the marketplace, whether it be to offer affordable care or a premium Montessori program. Also think about what you would like to be the primary focus of your curriculum, with options such as: building social skills, play, cognitive development, learning a second language or a combination of multiple areas.
6) Create an Effective Marketing Plan
There are many facets to a marketing strategy, including: (a) A strong online presence, ensuring you appear in a basic search in your local area for childcare services, (b) word-of-mouth referrals, (c) community engagement, (d) physical signage and advertising. Highlight how your daycare is unique and the values you stand behind. Once you reach full capacity, it is important to create an active waitlist to ensure your daycare maintains full capacity each semester.
7) Parent Communication & Engagement
Consider your policy to create open lines of communication with parents. To offer regular updates on their child’s day and development, and involve them in the community you’re building.
8) Implement a Robust Health and Safety Policy
Develop policies in the case of child illness, medication administration, allergies, and emergencies. Regularly review and practice these policies with your staff.
9) Consider Additional Services
Outside of your normal daycare hours, you may choose to offer additional services. These might include: overnight care, weekend and holiday care, summer camp, pickup/dropoff service, food catering program and more.
10) Vision for Future Locations
Many of our clients choose to create multiple daycare locations. This allows them to meet the childcare needs of their local community (and growing waitlists), expand their unique brand of daycare services to more children, and create additional revenue. This may affect how you set-up your business, playing a more managerial role.
BUSINESS PLAN FOR DAY CARE | WHAT’S INCLUDED?
A business plan for childcare includes multiple essential areas:
COMPREHENSIVE MARKET ANALYSIS - Market size of number of children in your geographical region. Competitor analysis. Statistical market analysis for Canada’s childcare industry, including trends.
DETAILED FINANCIAL PLAN - Each daycare business plan includes projected revenues and expenses, break-even analysis, balance sheet and other related financial information.
MARKETING PLAN - Outlines detailed sales and marketing plan for attracting and retaining clients.
MANAGEMENT & OPERATIONS PLAN - Outlines the day-to-day operations of the daycare centre.
DETAILED STAFFING PLAN - Including job descriptions and ECE staffing requirements. The childcare business plan should reflect wages and staffing volumes as per industry standards.
TAILORED PLAN STRUCTURE - We work closely with our clients to ensure that the final day care business plan accurately reflects your vision and goals for their daycare center. We understand that every daycare is unique, and we work to tailor our daycare business plans to meet the specific needs of each client.
Don't let the stress of creating a childcare business plan hold you back from starting your dream business. Let our team of experienced business plan writers guide you through the process and create a daycare business plan that will set your daycare up for success. Contact us today to schedule a consultation to discuss your business plan for day care and take the first step towards opening your center.
VIEW DAY CARE BUSINESS PLAN EXAMPLE
EXCEPTIONAL SERVICE BEHIND EACH DAYCARE BUSINESS PLAN
✓ EASY, STREAMLINED PROCESS - We facilitate and guide you through each step of the daycare business plan writing process from information collection needed for the plan, to consultation during the process to revisions, to after you have presented the plan. This makes everything easy for you and offers a quick turnaround.
✓ BE FULLY SUPPORTED - We don’t just plug and play numbers. Rather we provide you with full support, advice and consultation through every step of the childcare business plan. We will provide you with multiple areas of recommendation and advice based on decades of expertise. We include full after-service support after you have presented the day care business plan.
✓ ALWAYS FULLY IN THE LOOP - We stay in close contact with you during the entire business plan writing process where required, to ensure you receive timely progress reports and raise questions or feedback throughout the process. This teamwork creates the highest quality plan, while keeping you up-to-date throughout the entire process.
NEXT STEP: LET’S CONNECT
Reach us at 647.367.6449 or select one of the following consultation options: