Child Care Plan Discussion

Child Care Plan DiscussionChild Care PlanEXECUTIVE SUMMARY Provide a brief overview (highlight and summarize primary elements) of the business plan’s contents.BUSINESS INTRODUCTION ◊ Provide a history and description of the business• How and why did you enter the child care field? ◊ Mission statement • Who are you and what do you do?• What services do you offer?

• Who do you serve? ◊ Research market feasibility

• Is there a need for child care in the area where you business will be located?

• How much of a need is there and how much of it will you serve? ◊ Competition

• Who are your competition?

• What services do they offer; what are their strengths and weaknesses?

• Are they a threat to your business? ◊ Industry trends • What does the child care industry itself look like at this time: is it stable or declining? ◊ Potential market • Given what’s know about the above issues, what is the potential demand/need for your facility?BUSINESS ORGANIZATION ◊ Legal

• Will the center be a sole proprietorship, a partnership, or a corporation?

• Will it is profit-making or a non-profit organization?

• Will it have a board of directors?

• Will it is employer-sponsored or supported, or funded by state or local agencies?

• Who will determine the policies and budget? ◊ Insurance • What types of insurance will you carry (liability, fire, theft, health, accident), and through whom? ◊ Tax and bookkeeping system • What records do you need to maintain? • What system will you use? ◊ Regulation, licensing, and/or government issues • What licensing regulations are there for your industry? • What are the zoning regulations for your location? • What local building code requirements must you adhere to?MANAGEMENT/OPERATIONS ◊ Personnel/management team • Who are they? • What are their qualifications? • What education have they had? • Are they competent, capable, and experienced? ◊ Benefits • What benefits are being offered to employees if any? ◊ Employee requirements and job descriptions • What are your hiring practices? • What is your wage scale? • What are your staffing patterns? • What will specific employees be expected to do? ◊ operations • How will you actually run your business? • What are your major business policies? • What is your schedule of daily program activities and how will they provide you with a competitive edge? ◊ Suppliers • What equipment and materials do you need? • Where will they be obtained? • Provide breakdown of costs by supplier. ◊ External partners • Will a lawyer, accountant, or early childhood specialist’s served be used? ◊ Technology needs • Do you need or will you need any technology to help you, such as computers, telephone add-ons, etc.?MARKETING ◊ Describe your services • What do you offer and to whom? • Do you offer any special services that may not be offered elsewhere? ◊ Describe the target market for you facility • Who will be served? ◊ Identify your location • Where is your facility located? • Has is met local and state inspections and zoning requirements? • Does it accommodate special needs? • What features about your site are desirable for child care and families? ◊ Pricing strategies • How will fees be determined? • Will there be late fees, paid holidays and vacations, sick days, etc.? • Will you charge for special services, i.e., transportation? ◊ Promotional strategies • How will you reach your customers? • What advertising methods will you use?FINANCIAL ◊ Start-up costs • If applicable, what will you need to purchase to begin? • What operating funds will be needed? • Where will this money be obtained? • How much, totally, is needed to successfully cover all start-up costs? ◊ Cash-flow projection • Where will your income come from and where will it go? • Anticipate your income and expenses for a two-year period, month by month and by year. ◊ Income statement ◊ Balance sheet: assets, liabilities, net worth ◊ Break even analysis • Revenue versus expenses: how much money do you need to break even? • Can you make a profit? ◊ Financing plan • Will you need to borrow money? How much? • How will you use it and how will it be repaid? ◊ Identify sources of funds • Determine how the program will be funded. • Will you seek a bank loan? • How much money can you provide?ChildCare PlanEXECUTIVE SUMMARYProvide a brief overview (highlight and summarizeprimaryelements) of the business plan’s contents.BUSINESS INTRODUCTION?Provide a history and description of the business • How andwhy did you enter the child care field??Mission statement • Who are you and what do you do? •What services do you offer? • Who do you serve??Research market feasibility • Is there a needfor child care in the area where you business will be located? • How much of a needis there andhow much of it will you serve??Competition • Who are your competition? • What services dothey offer; what are their strengths and weaknesses? • Are they a threat to your business??Industry trends • What does the child care industry itself look like at this time: is it stable ordeclining??Potential market • Given what’s know about the above issues, what is the potentialdemand/need for your facility?BUSINESS ORGANIZATION?Legal • Will the center be a sole proprietorship, a partnership,or a corporation? • Will it be profit making or a non–profit organization? • Will it have a board ofdirectors? • Will it be employer sponsored or supported, or funded by state or local agencies? •Who will determine the policies and budget??Insurance • What types of insurance will youcarry (liability, fire, theft, health, accident) and through whom??Tax and bookkeeping system •What records do you need to maintain? • What system will you use??Regulation, licensing,and/or government issues • What licensing regulations are there for your industry? • What are thezoning regulations for your location? • What local building code requirements must you adhereto?MANAGEMENT/OPERATIONS?Personnel/management team • Who are they?• What aretheir qualifications? • What education have they had? • Are they competent, capable, andexperienced??Benefits • What benefits are being offered to employees, if any??Employeerequirements and job descriptions • What are your hiring practices? • What is your wage scale? •What are your staffing patterns? • What will specific employees be expected to do??operations • How will you actually run your business? • What are your major business policies? •What is your schedule of daily program activities and how will they provide you with acompetitive edge??Suppliers • What equipment and materials do you need? • Where will theybe obtained? • Provide breakdown of costs by supplier.?External partners • Will a lawyer,accountant, or early childhood specialist’s served be used??Technology needs • Do you need orwill you need any technology to help you, such as computers, telephone add–ons, etc.?MARKETING?Describe your services • What do you offer and to whom? • Do you offer anyspecial services that may not be offered elsewhere??Describe the target market for you facility •Who will be served??Identify your location • Where is your facility located? • Has is met localand state inspections and zoning requirements? • Does it accommodate special needs? • Whatfeatures about your site are desirable for child care and families??Pricing strategies • How willfees be determined? • Will there be late fees, paid holidays and vacations, sick days, etc.? • WillChild Care PlanEXECUTIVE SUMMARY Provide a brief overview (highlight and summarize primaryelements) of the business plan’s contents.BUSINESS INTRODUCTION ? Provide a history and description of the business • How andwhy did you enter the child care field? ? Mission statement • Who are you and what do you do? •What services do you offer? • Who do you serve? ? Research market feasibility • Is there a needfor child care in the area where you business will be located? • How much of a need is there andhow much of it will you serve? ? Competition • Who are your competition? • What services dothey offer; what are their strengths and weaknesses? • Are they a threat to your business? ?Industry trends • What does the child care industry itself look like at this time: is it stable ordeclining? ? Potential market • Given what’s know about the above issues, what is the potentialdemand/need for your facility?BUSINESS ORGANIZATION ? Legal • Will the center be a sole proprietorship, a partnership,or a corporation? • Will it be profit making or a non-profit organization? • Will it have a board ofdirectors? • Will it be employer sponsored or supported, or funded by state or local agencies? •Who will determine the policies and budget? ? Insurance • What types of insurance will youcarry (liability, fire, theft, health, accident) and through whom? ? Tax and bookkeeping system •What records do you need to maintain? • What system will you use? ? Regulation, licensing,and/or government issues • What licensing regulations are there for your industry? • What are thezoning regulations for your location? • What local building code requirements must you adhereto?MANAGEMENT/OPERATIONS ? Personnel/management team • Who are they? • What aretheir qualifications? • What education have they had? • Are they competent, capable, andexperienced? ? Benefits • What benefits are being offered to employees, if any? ? Employeerequirements and job descriptions • What are your hiring practices? • What is your wage scale? •What are your staffing patterns? • What will specific employees be expected to do? ? operations • How will you actually run your business? • What are your major business policies? •What is your schedule of daily program activities and how will they provide you with acompetitive edge? ? Suppliers • What equipment and materials do you need? • Where will theybe obtained? • Provide breakdown of costs by supplier. ? External partners • Will a lawyer,accountant, or early childhood specialist’s served be used? ? Technology needs • Do you need orwill you need any technology to help you, such as computers, telephone add-ons, etc.?MARKETING ? Describe your services • What do you offer and to whom? • Do you offer anyspecial services that may not be offered elsewhere? ? Describe the target market for you facility •Who will be served? ? Identify your location • Where is your facility located? • Has is met localand state inspections and zoning requirements? • Does it accommodate special needs? • Whatfeatures about your site are desirable for child care and families? ? Pricing strategies • How willfees be determined? • Will there be late fees, paid holidays and vacations, sick days, etc.? • Will