Development Plan for a Day-Care Institution - Term Paper Example

 Table of Contents Introduction 2 Executive Summary 2 Industry, Target customer and Competitor analysis 3 Company Description 4 Service Plan 4 Market Analysis 5 Marketing Plan 6 Management Team 6 SWOT Analysis 7 Risk Assessment 8 Works Cited 8 Introduction A day-care Centre also known as nursery school or day nursery, is an institution that provides supervision of young children and infants during the day particularly when their parents are out for work and the other children are in schools. These institutions were first cited in France around 1840 and were recognized by their government in 1869. Day-care centers mainly provide services to children from three months to six years of age. These centers can be a home based operation or in a commercial center that serves a particular community or area. Different types of services are offered in a day-care which include; Early childhood education Nanny service Baby-sitting Pre-kindergarten Pre-school centers etc. Business plan for a day-care business Executive Summary Kid’s care community college is an institution that aims at preparing students to excel as young leaders of the future by combining several high-class collegiate-based curriculums mainly formulated for infants with enhanced first child care services. Unlike our surrounding competitors, we offer after school tutoring, advanced technology programs that bring your kid to the lime light of technological advancement in the current technological world. Nevertheless we provide activities and classes based on dance, art and craft, theatre and gymnastics that are all located in the same institution. Kid’s care community college is a privately owned corporation run by several experts who are experienced in different areas. Mr. Bill Clinton the founder has 20 years of experience in executive management and budgeting. His computer science degree is the key behind our technology component. In his support there are several counterparts such as the institution director, industry consultant an executive manager of educational operations, who are much experienced in the child care fields. With the rate of inflammation increasing each year, the typical American family requires a supplemental income. This drift has created a need for better child care services. The increasing population growth rate in the surrounding areas of the Riverview area of Hillsborough County is reading 14.6%, raising our anticipation to expand our market in our local area. Certification, price, service and reputation are acute success factors in the child care services industry. Therefore, kid’s care community college will strongly compete in our market by offering high quality child care services, competitive prices and providing educational programs with certified, highly educated instructors and by maintaining an excellent reputation with the community we serve. Industry, Target customer and Competitor analysis Our day care industry which will focus on two subdivisions: ‘Mary Claire’ and ‘St. Albert’s’. They are new fashionable community development within a 10-square mile radius, catering for over 700 homes. Our target customers are focused on two customer segments; the first is full time working parents. This group is estimated to account for 80% of the business. The group is growing at the rate of 25% and estimated 100 potential customers within an 8 mile radius are recorded. The second group is the drop in customers who use the college periodically when need arises. This group is growing at 20% and there are over 50 potential families. And we therefore target double-income, middle class families who value the quality of child care we provide for their infants and the quality of education. The children should be between 4 months to 12 years of age. Company Description We will start business with an initial enrollment of 20 children. We are targeting healthier revenues at the end of the first year and expect triple revenue at the end of the third year. Our largest expense compensation will be experienced in renting on our facilities, payment of our highly qualified personnel which will be felt during the start-up period. We are anticipating to grow into four more campuses eventually but growth is planned predictably, which will be financed by the existing cash flow as time goes on. We are actually forestalling a net profit by at most in the beginning of our second year. Our institution targets not only child care needs but also provide an activity based learning environment that imitates those used in universities, colleges and vocational centers around the nation. This not only enhance your child’s early motor and social skills, but also teach them advanced studies for example arts and sciences only found in higher learning institutions. Service Plan Kid’s care community college offers substantially childcare services and an advanced curriculum designed for kids between 4 months to 5 years of age. Normal operating hours will be from 6.45 am to 6.30 pm throughout the weekday. Considering all major and legal holidays. Parents who need early drop off services will be offered as required. Our daycare aims at enhancing traditional day care procedures and executing extracurricular activities such as dance, arts and crafts theatre and gymnastics into one comprehensive program, which are mainly taught at colleges, universities and vocational schools around the state. We offer the best technology programs in leading edge facilities aimed at preparing students for the technology age in which we live in. our general education programs help tutor and mentor children through homework assignments and provide a base of interaction and understanding to make sure that they succeed in their future educational activities. Nevertheless, our developmental activities also reinforces basic listening, social, independence and motor skills, and helps in preparing student’s future related relations. Moreover, all our child care services and learning provide partnerships, technology, professional services and other several activities that support and promote higher education. Upon the opening of kid’s care community college, it will offer four basic services in the maritime community. This will include; full-time child care, part time and after school care (including pick-ups and drop-offs) after school tutoring to the recommended students and drop-in care (Raaijmakers, et al. Web). Market Analysis Kid’s care community college offer services those are important in the fast moving, dual- income world. Due to the increase of families that depend hugely on two incomes, the need for child care has highly shot up. According to the research done by the Florida Business Statistics, 84.6% of licensed child care facilities made it and made a profit in their 1st year operation. Marketing Plan Kid’s care community college will make use of referrals, direct mail and community exposure campaigns as our main way to reach our new clients. However as time goes on we will strategize new ways of promoting ourselves: 1. Advertising- we will use local community newspapers advertising, pre-enrollment drives and direct mail campaigns to launch the early clients. 2. Sales brochure- our theme and curriculum will help us sell the college to the targeted clients. 3. Direct mail-we will directly send mail campaigns to families around a 10-mile radius of the college and also we will offer monthly calendars for parents and the community at large, noting weekend family days and other open house approaches. 4. Community involvement- we will actively sponsor events at the community for residents and families. The use of a web page will also be a greater impact of advertisement. The college will not only give our visitors an opportunity to have a look around the campus but will give them a better idea of the level of quality and service they can expect. The website will be a cardinal illustration of our physical self (Raaijmakers, et al. Web). Management Team The founder/ owner Mr. Bill Clinton will have overall responsibility, making sure that the business is financially stable and attains its set goals. In order to reduce the work force the college will employ the following personnel; Industry consultant- Charles clay. He will be relied on upon his industry expertise, providing cherished vision to rules, regulations and governmental programs that will be of great benefit to the college. Campus Director-Catherine Harris. She will be responsible for management of all instructors, caregivers and tutors, daily operations and curriculum oversight. Vice President of Education operations-Margret Clinton. She has 8 years of child care industry experience and a five years customer service experience. With this set of experienced personnel, kid’s care community college will greatly move to higher heights of profitable business. SWOT Analysis 1. Strengths Single parents are mostly workers who greatly require child care and in many marriages in which both parents work. In terms of start- ups the strength of being funded by the federal government agencies that are eager to help improve the quality of childcare. In terms of own fulfilment, another strength of this type of business is that it provides a creative aspect for the owner who is able to develop the theme and the curriculum to be used (Everett 60-75). 1. Weakness The college however is prone to challenges that are actually normal in a business. The start-up cost for instance can be exorbitant which include building cost, insurance, supplies and marketing budget. Also, attaining the license to run the operation and be in compliance with the state and federal laws might be a strong weakness. The daily cost of running the business too including food and utilities may be included. The cost of maintenance of the collage can be expensive including painting repairs, replacement of furniture etc (Everett, Robert f, 60-75). 2. Opportunities Potential opportunities associated with day care business are actually electrifying. There is always a potential in growth in increase of more children and possibility of additional buildings. Once it is a potential business partnership with other businesses will potentially lower the cost for employees using the collage (Ding-Hong, et al 42-60). Risk Assessment 1. Competition There are many competitors in the child care business. Many day care facilities have been established in the area such as the Catholic Church Day Care which is already established in the market and has a large church congregation. However I may not consider customers from different religions. 2. Lack of enough start- up funds Considering the fact that we are beginning the business money can be a greater down fall impact in this business. Again, the money to cater for the salaries of our employees can be a problem when the parents don’t cooperate in the payment of school fees. However banks will offer loans to cater for this problem. Works Cited Ding-Hong, Peng, Wang Tie-Dan, and Gao Chang-Yuan. "Integrating Nonhomogeneous Preference Structures In Swot Analysis To Evaluate Multiple Alternatives." Economic Computation & Economic Cybernetics Studies & Research 48.3 (2014): 40-63. Business Source Complete. Web. 2 Apr. 2015. Everett, Robert F. "A Crack In The Foundation: Why SWOT Might Be Less Than Effective In Market Sensing Analysis." Journal Of Marketing & Management Special 1 (2014): 58-78. Business Source Complete. Web. 2 Apr. 2015. Raaijmakers, Aafke ,et al. "I Need Time! Exploring Pathways To Compliance Under Institutional Complexity." Academy Of Management Journal 58.1 (2015): 85-110. Business Source Complete. Web. 2 Apr. 2015. Wang, Jing, and Anil Verma. "Explaining Organizational Responsiveness To Work-Life Balance Issues: The Role Of Business Strategy And High-Performance Work Systems." Human Resource Management 51.3 (2012): 407-432. Business Source Complete. Web. 2 Apr. 2015. Read More