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Projected enrollment growth and market demand can also be tricky to estimate.From knowing your competition to picking the right place to establish your daycare center, there are a lot of lessons to be learned.For example, if the area around your future daycare center has 3,000 kids under five-years-old and only two daycare centers serving them, you’re in good shape.
You will generally need more square-feet-per-kid the younger they are (i.e. Pro tip: things like the arc of a door’s inward swing and required sinks will eat up square footage, so take them into account.
Always leave at least 10 percent breathing room when calculating required square footage for the classroom sizes you want.
Pay special attention to the obvious: What is the square-foot-per-child requirement in your town, city, and state, and what is the price-per-square-foot of the daycare center you plan to lease?
These two facts are absolutely key to putting together a solid business plan.
Also, aim for using at least 60 percent to 80 percent of your daycare center on classroom size.
Other square footage will be used for office space, hallways, required sinks, foyer, and so on, but you want to be using at least 60 percent for classrooms because that’s where you make your money.
For detailed information on the size of your primary market, there are helpful resources such as this market research guide from the US Small Business Administration. For example, is the median age of your daycare center’s neighborhood quite young or more elderly? Note down how your daycare is going to help these different kinds of parents.
Also, keep in mind other factors: Are you in an area with large amounts of seasonal work where the workforce and population shrinks during winter or grows massively during summer?
It serves as a cornerstone of your vision as you move forward.
You want to put a lot of thought and solid analysis into your daycare center business plan, because it will more than pay off in the end.