Discovery Point Blog
Open a Daycare Franchise or Go It Alone?
Starting a business is a life-changing decision. It will lead you to considering all of your options before you settle on the route you’ll finally take to become a business owner. For many who are striving to break into the child care industry, this decision revolves around determining whether they will open a daycare of their own or purchase a daycare franchise from a trusted franchise brand.
If you’ve found yourself in this situation, you may be eager for more information that can help you make a decision you won’t regret. After all, opening your own daycare may sound like a dream come true, while working with a franchisor may feel like a more secure way of achieving your goal.
Below, we’ve detailed some important things to consider as you pave your way to business ownership.
4 Factors To Consider Before Purchasing a Daycare Franchise
#1: The success rates for daycare franchises and independent child care centers differ significantly.
Studies have shown that if your goal is to still be in business five years from now, you’re better off working with a franchisor. There are a number of reasons why franchises tend to make it while independent startups fail.
One is the crucial advantage of having a recognizable brand name. This can be especially beneficial in the world of child care, where parents are more likely to trust daycare franchises that have built a solid reputation over newer startups.
#2: Startup costs can be both overwhelming and unpredictable.
While upfront costs are a reality for both opening a daycare center on your own and opening a daycare franchise, you’ll have a much better idea of how much capital you’ll need as a franchisee. Many startups fail to take into consideration costs related to everything from marketing to training and licensing, which can severely hamper their ability to get up and running while making a profit.
While your instinct may be to balk at the idea of paying franchise fees, the truth is these fees can provide long-term savings when stacked up against the costs of independent ownership.
#3: Franchises offer an accelerated path to success.
People use the phrase “building a business from the ground up” for a reason. When you’re starting your own business, you’re starting from scratch. This means it takes time to establish a reputation, acquire a customer base, and find a system of operations that works for you.
For many businesses, achieving this balance while also turning a profit can take years – if it happens at all. In contrast, purchasing a turnkey franchise enables you to benefit from both a business model and a reputation developed over many years. As a result, you’ll enjoy a head start and skip over some of the more daunting aspects of opening a business.
#4: Freedom doesn’t always spell business success.
The freedom that comes with owning your own business may sound ideal, but it is also a double-edged sword. As a new business owner working on your own, having the freedom to make choices about how your business is run also means having the freedom to make significant mistakes. Although making mistakes is a normal part of life, in the business world errors can cost you your livelihood.
If the idea of sacrificing your autonomy is holding you back from investing in a daycare franchise, you may not be looking at the right franchisor. At Discovery Point, we give our franchisees a set model that has been proven to work.
However, we also encourage them to make their business their own by directing their focus both inward towards their own passions and outward towards the needs of the community. As a result, no Discovery Point center is exactly the same, but each maintains our high standards of quality child care services.
Learn more about choosing a daycare franchise over going it alone from our experienced team at Discovery Point. Just call 770-623-1140 for details about the franchising opportunities we have available and the many forms of support we offer our franchisees.