Discovery Point Blog
5 Questions About Starting A Child Care Business Answered
As gung-ho as you may be about starting a child care business, you may also have some doubts about whether this is the right step for you both personally and professionally. Learning more about this industry, the risks it poses, and what it demands of business owners can give you clarity that will help you move forward.
At Discovery Point, we’re always at the ready to answer the questions of potential franchisees. With more information on hand, you can make the best choice as an aspiring child care business owner.
Below, we’ve answered five of the questions we’re most commonly asked by prospective franchisees. We hope these answers will give you greater insight into both the child care industry as a whole and how our brand works to make operating such a business easier for passionate entrepreneurs.
1. Is a child care business profitable?
It’s no question that when it comes to owning and operating a business, profitability is the main concern. However, many aspiring child care business owners want to get into the industry not because they’ve heard it’s a money-maker.
Instead, many are drawn by their love of working with children and interacting with families in their local community. At some point, though, before they make their final decision, they have to determine whether the business they want to open will be profitable.
The good news is that there’s plenty of room for profit in the child care industry. In 2019, the industry was valued at $54.3 billion, with a projected compounded annual growth rate of 3.9% for the next seven years.
As for annual profits, these were 9.9% in 2018. Moreover, the industry is resistant to recessions – even in hard times, parents need reliable child care services in order to keep working. As a result, child care businesses can be counted on to remain profitable when other types of businesses struggle.
2. Should I start my own child care business or buy a franchise?
The decision of whether to start a child care business from scratch or buy a location from an experienced franchisor is a personal one. Home-based care offers the benefits of low overhead costs but is difficult to scale and market.
Working as a franchisee, on the other hand, ensures you have support with marketing, guidance with licensing, and help with selecting the perfect location. In general, buying a franchise can help you skip over many of the hurdles that prevent smaller, home-based day cares from ever opening their doors in the first place.
3. What factors do parents use to choose a day care?
Understanding what parents are looking for in a day care is essential to opening a business that meets their needs and whose services they trust from day one. Common criteria for parents include:
- Adherence to state licensing requirements
- A child care philosophy they can feel good about
- Well-trained teachers who stay with the company long-term
- An environment that is stimulating for both play and intellectual development
- High standards of safety and security
As a Discovery Point franchisee, your business will meet the essential criteria of the families you plan to serve from opening day and beyond. We’ve spent years building a trusted reputation and a child care philosophy that focuses on early education and giving children the tools they need to learn and grow.
Moreover, we offer teacher training and proprietary curriculum that make our centers stand out from other daycare businesses. Finally, we ensure our franchisees are not only in line with state licensing requirements, but also adhere to strict standards of child safety and security, from limited building access to age-separate play areas.
4. Am I qualified to start a child care business?
If you love working with kids, working at a child care center can be a truly rewarding experience, one that leaves you feeling fulfilled at the end of each day and looking forward to the next. However, owning a center certainly takes a lot of work. Some aspiring child care center owners overlook the details that they would have to manage in order to operate a successful business where children are safe and secure. That being said, you don’t have to have prior experience in the child care industry or in business ownership in order to start a thriving business in this field.
Being part of a franchise can take the burden of lack of experience off of your shoulders while enabling you to experience the joys of working in child care. At Discovery Point, we have developed a business model that is time-tested and allows our franchise locations to operate efficiently.
Additionally, whenever you have questions about an aspect of running your business, from marketing to hiring teachers and interacting with families, you’ll always have someone to call who can advise you based on decades of experience.
5. What’s it like to be a child care business owner?
As the proud owner of a Discovery Point center, you can build a work schedule that offers a comfortable work-life balance. It will allow you to prioritize spending time with your own family while also helping families in your community.
This level of flexibility is often what draws people to the world of business ownership. At Discovery Point, we never want our franchisees to have to compromise their quality of life for their businesses to be successful.
In addition to flexibility, you can also look forward to support as a franchisee – you’ll be in business for yourself, but not by yourself. We work to facilitate a professional environment that enables franchisees to implement a vision of child care they are passionate about while utilizing the solid framework of our experienced approach and ongoing guidance.
Most importantly, you’ll spend your days helping children grow and thrive and making a difference in the lives of working parents. You’ll discover the magic of doing work that brings rewards on so many levels while also achieving your dream of being a successful business owner.
To learn more about what your day might look like as a Discovery Point franchisee, check out A Day in the Life of a Discovery Point Daycare Owner.
Do you have additional questions about starting a child care business, or want to learn more about the benefits Discovery Point offers its franchisees? Reach out to our franchising team today at 770-623-1140.