| There are many reasons why you should prepare | | | | business and describe the extent of their |
| a business plan for your child daycare service | | | | involvement. |
| business. In this article we will firstly look at why | | | | 4) Start-up requirements - List all the things that |
| you need a plan and then we look at some of the | | | | have to happen for you to get started. Most |
| components that make up a typical one. Lastly | | | | importantly you need to put a dollar figure on |
| we look at how you can get a free example of a | | | | everything and come up with the total start-up |
| child daycare business plan. | | | | cost. Some business plans also include operating |
| Why you need a Business Plan | | | | costs for the first few months in their start-up |
| A plan gives you a chance to put together one | | | | requirements calculation. |
| core document that will be a blueprint for your | | | | 5) Market Analysis - Introduce any market |
| success. It is a place to get organized, compile | | | | research that you have done and draw |
| your thoughts and summarize your research. It | | | | conclusions based upon it. Describe the niche |
| allows you to set goals and targets for | | | | market sector that you wish to target and profile |
| achievement and have a clear idea of where you | | | | your typical customer. Outline your local |
| want to go. Once you get underway with a new | | | | competitors and explain how you will differentiate |
| childcare venture a business plan will allow you to | | | | your service from theirs. |
| track your progress and things should run | | | | 6) Marketing - Set out a marketing strategy to |
| smoothly because you planned them in advance. | | | | explain how you will bring new clients into your |
| A plan will also sometimes be needed to convince | | | | daycare. Propose an advertising strategy and a |
| others that your ideas are viable. If you are | | | | sales strategy. |
| looking for a partner, investor or financing then a | | | | 7) Management Structure - Set out a |
| solid, well prepared business plan becomes | | | | management hierarchy in a chart showing the role |
| essential. | | | | of each business owner and employee. |
| How to put one Together? | | | | 8) Staffing Requirements - Estimate staffing |
| 1) Set out an introduction that summarizes what | | | | costs, the number of staff required and |
| kind of daycare you want to start and how you | | | | necessary training. Include a timeline that explains |
| plan on going about it. Outline a little about the kind | | | | at what point new employees will be taken on as |
| of brand that you hope to develop and set out a | | | | the business grows. |
| mission statement and values to follow. | | | | 9) Financial forecasting - Include spreadsheets with |
| 2) Objectives - Set out your goals for your | | | | your business plan that show anticipated cash |
| daycare business in short, medium and long term | | | | flows or revenues and costs coming in and |
| time frames. | | | | flowing out of the business. Try to make a range |
| 3) Company Ownership - list all the partners or | | | | of profit forecasts depending on a variety of |
| investors that have an ownership stake in the | | | | scenarios. |