Business Proposal: Baby-Sitter Agency - Essay Example

Business Proposal Description of the Business and Business Need The business being proposed is a contractor or agency for employing and finding employment for babysitters, nannies, and household helps on a temporary or permanent basis. Being a full-time student currently, one’s previous part-time work experiences included doing baby-sitter work intermittently and working as an office personnel for a leasing organization. Given the limited exposure to business organizations, but with vision to be actively engaged in one, the business of providing assistance through finding the most appropriate baby-sitter or nanny services to parents and primary care givers offers significant potentials. The business is proposed to be established in one’s area of residence at Springfield, Virginia. According to the statistics provided in the IBISWorld (2012) on the day care industry, “as parents and guardians, particularly females, rejoin the workforce, demand for day care services will grow. Additionally, the expected increase in disposable incomes will allow families to spend more on child care” [IBI12]. Therefore, there are potentials for profits and the ability to assist in employing baby-sitters and nannies would contribute towards economic improvement. As disclosed by the Bureau of Labor Statistics through the Occupational Outlook Handbook for childcare workers, the median pay for this profession is $9.28 per hour or approximately $19,300 per year [Bur122]. More importantly, the outlook is optimistic as it was revealed that “employment of childcare workers is expected to grow by 20 percent from 2010 to 2020, faster than the average for all occupations. Growth is expected because of increases in the number of children who require childcare and continued demand for preschool programs” [Bur122]. Annotated Bibliography Bureau of Labor Statistics. (2012, April 26). Childcare Workers. Retrieved June 13, 2012, from bls.gov: http://www.bls.gov/ooh/Personal-Care-and-Service/Childcare-workers.htm The report provided relevant information pertinent to childcare workers including what childcare workers do, the work environment, guidelines in becoming a childcare worker, the median pay as of May 2010, job outlook, and data on similar occupations. As such, it was revealed that the median pay for this profession is $9.28 per hour or approximately $19,300 per year (Bureau of Labor Statistics, 2012). More importantly, the outlook is optimistic as revealed from the growth patterns and trends.These information are crucial in establishing the business need and to validate viability of establishing a business that employs people of this particular profession. IBISWorld. (2012, February). Day Care in the US: Market Research Report. Retrieved June 13, 2012, from http://www.ibisworld.com/industry/default.aspx?indid=1618 The site provided details in industry analysis and industry trends of the day care industry in the United States. It provided relevant statistics and overviews such as the industry revenue, annual growth, employment, and number of business establishments. As disclosed and noted, “as parents and guardians, particularly females, rejoin the workforce, demand for day care services will grow. Additionally, the expected increase in disposable incomes will allow families to spend more on child care” (IBISWorld, 2012, p. 1). This particular information therefore confirms the viability of establishing this kind of business within one’s proposed location. Business Proposal: Baby-Sitter Agency Introduction In contemporary work settings, it is evident that increasing numbers of parents are required to find appropriate employment to support the daily needs of the family. With both father and mothers at work, the childcare and direct supervision for very young children are left to other family members: grandparents or siblings, if available. Otherwise, parents resort to finding baby-sitters or nannies on either a temporary or permanent basis. In this regard, one proposed to establish a contractor or agency for employing and finding employment for babysitters, nannies, and household helps. The proposed site is within one’s area of residence at Springfield, Virginia where an online site could be designed to promote and offer these services. Based on preliminary research on prospects for this kind of business, the information disclosed by the Bureau of Labor Statistics (BLS) revealed that the outlook is optimistic and “employment of childcare workers is expected to grow by 20 percent from 2010 to 2020, faster than the average for all occupations. Growth is expected because of increases in the number of children who require childcare and continued demand for preschool programs” (Bureau of Labor Statistics, 2012, p. 1). This information was likewise corroborated by the industry report published online by the IBISWorld (2012) where it was clearly indicated that “as parents and guardians, particularly females, rejoin the workforce, demand for day care services will grow. Additionally, the expected increase in disposable incomes will allow families to spend more on child care” (IBISWorld, 2012, p. 1). As such, the need was effectively established and would thereby be used to support the feasibility and viability of the business proposal. Value to the Organization The establishment of this kind of business within one’s strategic location would assist nearby families and those who would contract the services through addressing the needs for effective childcare. As one has had experiences working as a baby-sitter, one knows through experience the nature of work and the challenges that go with it. Likewise, one would advertise through the online site two options: (1) one for baby-sitters, nannies, and even household helps looking for employment and (2) for parents to post their requirements. Consistent with the need to ensure safety, privacy and confidentiality; as well as conformity to ethical, moral and legal standards, all background and identification checks, profile reviews, interviews with applicants would be tediously done. All required documents to validate that personal and professional information were accurately provided would be compiled and double checked. The required pay consistent with that announced by the BLS and rates within one’s locality would be considered to be competitive in the area. Thereby, aside from addressing the childcare requirements of parents and families, the organization would provide employment to those in need. Persuasive Techniques To validate that this business proposal is both feasible and viable, the growth and employment prospects were reviewed from credible sources. Likewise, one’s past experience working as a baby-sitter increased competence and qualifications to enter this endeavor. One’s knowledge in designing an enticing website to announce the business’ services, to invite applicants, and to help parents find perfect match for their childcare requirements would be effectively addressed. Finally, the safety, security and privacy matters would be seriously complied with to ensure that the business would prosper, as needed. Strategies to be Employed As noted, the proposed business would be announced through online advertisement and promotions. Likewise, flyers would be distributed within one’s area of residence to serve as the information medium to announce the services being offered and to invite prospective applicants for the position of baby-sitters, nannies and household helps. As an added initial invitation strategy, after assessing the basic rate offered within one’s area, the business could initially provide discounts for the first 100 parents who would contract childcare services within the first month of operations. Regular customers would also be given discounts. Communication’s Impact on Managerial Decision-Making The relevance of effective communication would be instrumental in soliciting the needed amount of clients for the new business. When the online site is designed effectively, ensuring easy access to prompt and using language that is clearly and universally understood, then, more clients would try the business’ services. Importance of Managerial Communication It is thereby evident that clear and effective managerial communication would either make or break a business. As one proposed the baby-sitter agency, the effective communication tools that would entice parents and prospective baby-sitters to contact the organization and comply with the requirements are most needed for future success. References IBI12: , (IBISWorld, 2012, p. 1), Bur122: , (Bureau of Labor Statistics, 2012), Bur122: , (Bureau of Labor Statistics, 2012, p. 1), Read More