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JBS Daycare Center - Business Plan Example

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This business plan "JBS Daycare Center" focuses on an upcoming daycare center to serve Parents with Kids. This Daycare Center will be a learning facility that will be affordable for low and middle-class parents. The Daycare center will be taking 6-month-old babies up to 4-year-olds.  …
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JBS Daycare Center
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Business Plan Jessica Saravia BUS100- Introduction to Business Section- Monday 6:00-10:00pm Prof. Davidson March 8, Table of Contents I. Introduction II. Executive Summary III. Benefits to the community IV. Company and Industry V. Management Team VI. Manufacturing and Operations Plan VII. Labor Force IIX Marketing Plan and Strategy IX. Financial Plan X. Exit Strategy XI. Critical Risks and Assumptions XII. Appendix I. Introduction JBS Daycare Center will be a upcoming daycare center to serve Parents with Kids. JBS Daycare Center will be located at 8329 Rolling Road Springfield VA 22153, and you can reach me at 703-953-4000. This Daycare Center will be a learning facility that will be a affordable for low and middle class parents. The Daycare center will be taking 6 month old babies up to 4 year olds. The nature and mission of this venture is to open up a Daycare center in this area to help parents a more convenient way to drop off or pick up their kids. As a Business person my goal is to have a learning facility for kids where they are learn Spanish as a second language. II. Executive Summary. My facility will be 1200 square feet with ample space for my kids and a playground in the background. Each children will be charged between $35 to $65 dollars weekly My Daycare center will begin 6 a.m. upto 6 p.m. In the morning my kids will be offered breakfast in which I will prepare and have food supplies every morning. There will be snacks given out for mid-morning and mid-afternoon example like fresh fruit, juice box etc. There will be menus given to the parents a week before so they are aware of what their kids are eating. There will be a play room for the kids, a bathroom area which will have more than one toilet installed, each age group will be divided throughout the Day Care center, storage area, office area, and outdoor area. "All day care centers operate according to planned routines. The day is divided down into one-hour sections with already established curriculum, which is the same as the classes at public schools." (PowerHomeBizz, 2009) Children will be separated by age groups. For toddlers, 3 and 4 Between 8 am and 9 am they will nap and from 10 am to 11 am they will get their mid-morning snack as the younger will be taking a nap. After lunch time I will have significant guest to come and entertain the kids. I will be working with my Chamber of Commerce, city administration, police stations and etc. Not having guest everyday but at least once a week would be a brilliant plan. As we can also make a field trip once or twice a month to a selected place that can be exciting for the kids. During this time the Infants will be at the Day care center still being taken care of. Infants from 6 months to 1 year old will have a daily activity to play or to be read to every couple of hours and will have nap times. We will be asking parents whats the best way they wish their children to have nap time. Every parent is different and usually wants their kids asleep by 7 or 8 o clock and by that we have to try to fit their accommodations. From 3 to 4 I will have a learning session for Toddlers where they will be learning the basic of Spanish. After a learning session the kids will go to have a play period until 5 p.m. At all times there will always be a playground supervisor. III. Benefits to the community. Professional childcare is needed in every community. The large number of parents entering the job market has made the demand for day care centers to increase. According to National Association of Child Care Resource and Refferal Agencies, 65% of all mothers in America with Children fewer than 5 years old are in the workforce." (Fabjob.com, 1999-2010) One of the primary benefits of my daycare center is the extra support it offers in adding to a child’s education. Day Care centers provide different benefits to the kids aside from the direct help it provides such as educational support. They also ensure the kids are occupied during the day. Children are also given the opportunity of meeting children from other backgrounds. This will increase their circle of friends that they may not have met. For parents, my centers are a terrific option over a nanny or babysitter. Unlike these options, my center will keep regular hours and always be fully staffed. There is an agreed pay rate system that the Day Care Center will be offering that shouldn’t change unexpectedly. Economic development will also foster a society’s capacity to create wealth for its people by creating job opportunities. When the economic development succeeds and targets the important factors – information technology and management, capital, labor and land it can maintain a high quality job and high employment levels. However, economic development is more than employment and income; it seeks to improve the productivity of the available local resources to encourage business profits and promote the community sustainability and the quality of life. IV. Company and Industry. JBS Day care center will be a small business just forming in the community. In order to start my business I will get Licensing fees to start my business. I will have parents fill out a contract, medical report for the child, and consent for emergency treatment on minors. This will be a profit organization. Services that will be offered are care for the children and during an hour learning time they will be able to learn Spanish as a second language. The teacher will be certified in teaching and that understand Spanish. There will also be a playground outside where they will swing, jump rope, soft ball and etc to be entertained outside. There will also be times that we will be playing games outside as a group. The neighborhood is need of a Day care center and it’s an area where there are a lot of kids around. It will benefit the community and the neighborhood will be my potential customers for right now. Current competitors are miles away, so this might be an advantage to me to have a day care center were parents are comfortable driving. My Business future is just to succeed and within 10 years of progress to open another Day care center in a community where is needed. If, my company manages to have 115 infants and toddlers it will succeed. V. Management Team Every day care center that is profitable requires a manager or director who is sharp. This person will be me. As a director I will have empathy with people, be a superb judge of the people, be sales oriented, and have a pleasant outgoing personality. I will have the ability to listen, and hear what different people are saying about the center without the influence of other opinions, or coming up with snap decision. I will be responsible for hiring supervision to help with the kids. I will be doing background checks on each applicant that comes in and interviews for the job. I will provide free enrollment for my staff children and have medical and dental insurance for my staff. Depending how much knowledge and what certificates one have will be based on their salary. Each employee will at least need to have a CPR certification, and certified to be a child caregiver. There will be 4 age groups which I would prefer 5 employees to take care a section of each child group. There will always be 2 people with the infants. Volunteer work is also welcome from High School Students, or College students. VI. Manufacturing and Operations Plan JBS Day Care Center will be run on a weekly schedule that would always be made advance to give out to parents to inform them of their daily doings. JBS Day Care Center will have schedule daily program activities and will provide a competitive edge. When a prospective client calls to ask about JBS Day Care Center, we would explain how the Day care center operates, and emphasize in inviting them and to bring their child in so that they can take a tour of our facilities. I will have a slickly printed, quality brochure showing JBS Day Care center rates, our services, and an outline of the curriculum and a statement that will benefit goals for the children. JBS Day Care Center will be watching over lots of children, and we will have to ensure that theyll be safe. Kids love to play and run around, so there is a tendency to fall down and can hurt their knees. With this, the company will be prepared, we will know what to do and we will have a first aid kit. Having a daycare, we will make sure we have toys in our facility. Toys can make the kids occupied. With lots of toys, they can have fun and learn at the same time. Sleeping mats are necessary. We’ll need these to have the kids have an afternoon nap. Books are valuable in a daycare facility. The Day Care Center will read books to them and have fun and learn, and just make sure that the book are with colorful pictures. These are the most essential that we will need to start, and the rest I have found in a table that is a terrific start. CHILD CARE EQUIPMENT & MATERIALS LIST Note: The Best Practice column assumes that everything in the Guideline column is already in place. Guideline Best Practice Furnishings General: Child-sized tables and chairs (enough for maximum attendance) situated in activity centres as appropriate Cots/sleeping mats (plus sheets, blankets, pillows) Waste containers Child-accessible storage shelves (appropriate for each activity centre) Adult storage shelving Mirrors at crawling & standing height Cubbies/lockers/child’s personal storage space Sturdy step stool (for sinks, counters, etc.) Adult-sized chairs (one for each staff) in each group room Loft Kneeling/floor-sitting table (25-30 cm high) Standing (child) table (50-60 cm high) Ceiling mirrors Computer Comfortable adult furniture in adult areas Infants: Cribs/playpens - one per child enrolled Diaper change table Infant monitor High chairs Stroller or high-sided wagon Car seats (if transporting) Activity saucer (stationary entertainment centre) Toddlers: Potty chair Car seats (if transporting) Toys & Materials Art Centre Furniture: Easel (wall-mounted or freestanding) Drying Rack Paper storage rack Paper cutter Painting supplies: Brushes with short thick handles Sheet of heavy plastic to protect table/floor Powdered tempera paints (red, yellow, blue, green, orange, purple, black, white, brown) Paint shirts Paint containers Finger-paint materials (soap flakes, cornstarch, liquid soap) Brushes (assorted sizes and types) Additional tempera colours Tempera blocks Water colours Prepared finger-paint Shaving cream Sponges Bingo daubers Modeling supplies: Tightly covered containers Clay flour Play dough ingredients Rolling pins Cookie cutters Pipe cleaners Plasticene Assorted additional play dough carving and molding tools Drawing materials: Large diameter crayons Regular crayons Primary pencils Rulers (short and long) Pencil sharpener Erasers Pencil crayons Felt tip markers Stencils Water soluble chalk Pastels Oil pastels HB pencils Fabric crayons Chalkboards Coloured chalk Chalkboard brushes Cutting & Gluing Materials: Blunt scissors (right & left handed) Paper punches “Toys: Tools for Learning”. Washington, DC: National Association for the Education of Young Children, 1999. VII. Labor Force The quality of the company skilled workers is the training that they will need to have. As stated before the staff will need to have Certificates and have knowledge on how to be a child care. JBS Day Care Center Staff will be motivated and have a warm outgoing personality to keep the children happy and want the best for them. IIX. Marketing Plan Market Segmentation The market will be segmented according to the profile of the consumers, the behavioral and physcological criteria. Single parents and divorced families will be among the groups targeted. Age is not a matter of concern since any person with a kid can drop their kid off at the day centre. The employment and income status of the guardian is necessary to enable the centre to operate well with the community. The geographical location is middle class regions where most of the families cannot afford to hire the services of nannies. Most families in these middle class regions need the day care centre since they have to work extra hard to fend for their families. Target Market Finding the proper scope of the target market is crucial. If the target market is too broad, it will be hard to determine their information needs and it will be costly on promotion as a lot of money will be wasted. Also the desired result will be hard to achieve. The target market is divided in two, the primary market and the secondary market. The primary market includes the families in the region who will use my day centre for their kids. These are my premium customers who will benefit from the introduction of the day care centre. The primary market will also include, people living outside the state or those who used to live in the state but have moved. The people are, however, living within the driving distance to the Day Care Centre. The secondary market I will consider to be people coming from different states or abroad who may have interest in the centre. They are people who are only visiting for a short while and may require day care services for their kids. Due to the nature of the business, the Day Care Centre expects to face challenges from the existing day care centers. Most of my competitors operate their business from 8 am, this will give me an added advantage since I open mine from 6 in the morning till 6 in the evening. This is convenient to most parents who have to attend to their work from morning till real late in the evening. Regular entertainment of the kids will also give me a head start over my competitors. Market Trends A lot of people prefer Day Care Centers that provide quality entertainment to the kids. The day care center should also be spacious to allow the kids play in a favorable and conducive environment. Most Day Care Centers offers the kids refreshments during the day, my day care center will offer the refreshments a number of times during the day to challenge the competitors. Main Competitors The Day Care Centre expects stiff competition from various competitors in the region. A number of Day Care centre exists in the region and they may offer some challenge. Most of the competitors have been around the business for about 5 years. There strength is the fact that they have a large market share and they have developed a substantial number of consumer loyalties. However, there serious weaknesses are the fact that they charge way high prices compared to the affordability of the consumers. The way to counter attack this, is through our lowered prices and a lot of fun filled activities for the kids. Our Day Care Centre proves to offer a lot of superior products in the industry than all the others. Another weakness is the fact that this day care centers don’t offer entertainment to the kids. Most of them take care of the kids by teaching and feeding them. With the introduction of my day care centre, I intend to challenge and probably take a larger share of the market from the competitors. This is because my Day Care Centre will provide a number of entertainments to the kids in order to attract their parents and guardians to the Center. Strategic Planning Marketing strategy Two main components are needed for the effective development of the strategy. The first one is how the centre will address the competitive market place. Secondly, is how I will implement and support the day to day operations of the organization? In order to come up with a strong and effective marketing strategy, key factors have to be considered. •If the market is attractive and the Day Care Centre is among the strongest in that sector, I will want increase my investment to support the business. •If the market is attractive and the Day Care Centre is among the weakest in that sector, I will concentrate on strengthening the Day Care Centre using the available resources. •If the market is not highly attractive, but the Day Care Centre is among the strongest in the industry, I will require an effective and appropriate marketing and sales using the available resources in order to attain near term profits. •If the market is not highly attractive and the Day Care Centre is among the weakest in the industry, I will determine the most cost effective way to divest the resources of the Centre. I will use the Differentiation Strategy when entering the industry. This is being able to offer a service that is unique from all other competitors. I will use entertainment to change the face of the Day Care Industry. There will be numerous appearances by kid comedians and clowns to offer various entertainments to the kids. Pricing My pricing strategy will be the Market Penetration Strategy. My prices will be set low in to attract potential customers to the day care centre. The Day Care centre will charge a price ranging from $35 to $65 weekly. This is quite an affordable rate compared to what is offered and the prices of different competitors. A number of promotional activities will be carried out to ensure the residents are informed of the existence Day Care centre. Promotional Strategy The strategy I will undertake to advertise the Day Care Centre is the PUSH STRATEGY. This is where I will use all the available channels of distribution to push the product. I will also use product family advertising since will be offering more than one good to the community but rather a set of them. Kids need entertainment more to make them comfortable at the place they will be staying. This I guarantee will influence majority of families to bring their kids to the day care centre.JBS Day Care Center first step to market is go door-to-door, and hand out distribution of a quality informative brochure of the day care center. The brochure will have color and will be printed on the best paper the Company can afford. Then I will add t a two column by four inch at the grand opening display ad in the local daily newspapers. At the same time, similar ads will be placed in the local dailies and other publications catering to the working mother. We will send along a group picture of the staff, and a story about the services offered with our advertising order. The editors at the local newspapers, radio and TV stations will get a call to invite them out to JBS Day Care Center grand opening. We will then have to place “service information" ad in the yellow pages of the company telephone directory. After the day care center grand opening, we will still hand out brochures at entrances to office buildings, continue to run ads in our local newspaper. For our grand opening, we will offer free refreshments to all who will attend. Coffee and punch for the adults, with juice or the children, and cookies for everyone. At the grand opening, free refreshments will be given to everyone. Coffee and punch for the adults, the kids will get juice, and cookies will be distributed to everyone. Distribution. The method of distribution will be mostly full service, this is because the kids need attention the whole day and also the Day Care Centre operate full time according to the stipulated time. The marketing strategy will offer more than just a reasonable estimate for starting the business. The individuals in the society will be aware of the existence of the Day Care Centre and not only will I benefit but the community in general. IX. Financial Plan As shown in the table below, the estimated start-up costs for JBS will be $39,450. These costs will be solely financed by the personal cash of the owner and also optional credit lines. An anticipated $60,000 SBA guaranteed 5-year loan will be used as working capital. Future center expansion, growth and the franchising strategy will be solely financed by the owner. Start-up Requirements Start-up Expenses Legal $1,000 Stationery $250 Brochures $500 Insurance $1,500 Rent $8,250 R&D $500 Consultants $1,000 Playground Equipment $3,500 Playground Prep $700 Playground Fence $3,000 Furnishings $7,500 Toys $3,000 Buildout $8,750 Total Start-up Expenses $39,450 Start-up Assets Cash Required $65,550 Other Current Assets $14,130 Long-term Assets $0 Total Assets $79,680 Total Requirements $119,130 Start-up Funding Start-up Expenses to Fund $39,450 Start-up Assets to Fund $79,680 Total Funding Required $119,130 Assets Non-cash Assets from Start-up $14,130 Cash Requirements from Start-up $65,550 Additional Cash Raised $0 Cash Balance on Starting Date $65,550 Total Assets $79,680 Liabilities and Capital Liabilities Current Borrowing $0 Long-term Liabilities $60,000 Accounts Payable (Outstanding Bills) $0 Other Current Liabilities (interest-free) $0 Total Liabilities $60,000 Capital Planned Investment Owner - Kilpatrick Cash $45,000 Owner - Kilpatrick Credit Line $12,500 Other Assets Invested $1,630 Additional Investment Requirement $0 Total Planned Investment $59,130 Loss at Start-up (Start-up Expenses) ($39,450) Total Capital $19,680 Total Capital and Liabilities $79,680 Total Funding $119,130 (Bplans.com, 1996-2010) X. Exit Strategy Determining critical roles within the company, identifying and assessing possible successors and providing them with the appropriate skills and experience to present and future opportunities. As the owner i will have to recruit and staff superior and right employees, train and develop their knowledge, skills and abilities. I would prepare my employee for advancement or promotion into ever more challenging roles. "Succession planning is a process by which successors are identified for key positions throughout an organization including vital roles in each department of the organization. It should take into account the strategic vision and objectives of the organization. With formal succession planning in place, employees are ready for new leadership roles so when someone leaves the company, another is skilled and ready to step-up to that position. Succession planning can also help develop a diverse workforce, by enabling senior management to look at the future goals of the organization as a whole. So the key issues the HR professionals should consider while developing a succession plan are – • Strategic plans and future goals • Workforce requirement • Knowledge retention and critical roles • Talent management strategies" (Succession planning 101, 2007) XI. Critical Risks and Assumptions All business ventures have risks. Not all business managers or developers are aware of the risks. Many that are aware of the potential risks do not plan for them. Dont get caught. Write them down. Dont dwell on problems. Write the potential problems down and discuss the impact on the business. Plans to avoid or correct the situation will help your presentation and future decisions regarding the business. Some problems you may encounter: • Out of cash before orders secured • Competition price cutting • Costs in excess of estimates • Unmet schedule(s) • Difficulties with credit XII. Appendix "Each Account in a chart is assigned a unique identifier, typically an account number. There will be five categories which are: Assets, Liabilities, Equity, Income and Expenses. " (Scribd.com) References Bplans.com. (1996-2010). Retrieved March 1, 2010, from Bplans.com: http://www.bplans.com/child_day_care_services_business_plan/company_summa ry_fc.cfm Fabjob.com. (1999-2010). Retrieved March 1, 2010, from Fabjob.com: http://www.fabjob.com/DaycareOwner.asp PowerHomeBizz. (2009). Retrieved February 15, 2010, from PowerHomeBizz.com: http://www.powerhomebiz.com/vol40/daycare.htm Scribd.com. (n.d.). Retrieved March 1, 2010, from Scribd.com: ttp://www.scribd.com/doc/16465737/Day-Care-Center-Chart-of-Accounts Succession planning 101. (2007). Retrieved March 3, 2010, from successionplanning101.com: http://www.successionplanning101.com/ Read More
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