For those child care business owners wanting to grow their business, growth can be accomplished in three basic ways; growth within their current location, constructing or remodeling a building to house a new child care center, or acquiring an existing child care business.

Before pursuing any growth plan, the current business operation must operate at maximum revenues and profits. Too often owners start on their second or third child care business location while there is still much opportunity for improvement within their first c child care center. In a word, “make sure your current child care business is in order before adding another one.”

Those owners that have a larger lot or land as their first option for growth, adding on to their existing building or possibly adding an additional building. For example, a second building with classrooms for PreK programs and school-age children.  This type of growth is often referred to as organic growth – when a business achieves this by increasing output and increasing sales internally. For some aspirating child care business owners, the desired growth might be achieved in this far easier, less risky means for growth.

If expansion of the current child care center is not an option, constructing or remodeling a business for a new location is often the most likely choice. Each has positive and negative aspects to consider. Of primary concern with construction or remodeling is how long will it take and how much will it cost. Either way, at the new location you are starting out with no enrollment, or gross revenues – you are essentially starting over in the second location and must build the enrollment, revenues, and profits, over time.

The experts at ChildCareOwner.com can help you determine what is the best expansion option for your childcare business.