Child Care Expansion Analysis
Know Better You Grow - Which Options Are Best
Buy, Build or Repurpose
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.
Specialized Child Care Accounting and Financial Management
Accounting & Bookkeeping
Specialized accounting services for childcare businesses.
- QuickBooks Online included
- All data entry (That’s right; no more wasting time trying to learn how to use QuickBooks!)
- Credit/Debit Card transactions
- Bank reconciliations
- Monthly, Quarterly & Annual Reports
- Accurate and timely services
Planning & Budgeting
Good financial management starts with planning and budgeting.
- Monthly, Quarterly and Annual financial planning and budgeting
- Budget vs Actual tracking
- Key Performance Indicators – Financial and Non-Financial
- Business planning tied to financial budgeting
Cash Flow Management
Cash Flow is essential to business survival
- Tracking the flow of cash in and out of your childcare business
- Analyzing cash flow changes
- Cash flow budgeting
- Cash flow planning and forecasting
- Cash flow requirements analysis
- Cash flow management strategies
We take the stress out of Paydays.
- New hire auto set up and filing
- Same day direct deposits
- Accurate vacation and paid time off (PTO) accruals
- Easy to read payroll reports
- Timely and accurate payments of FICA, Social Security and other taxes
- Time sheets
- We calculate, file, and pay your payroll taxes for you
- Approving Payroll only takes minutes of your time not hours
Reports & Tax Filing
Keeping you in compliance.
- Pro-active Tax Compliance, Tax Preparation, and Tax Planning
- Annual business tax returns filed
- Annual personal income tax returns filed
- Real Estate property tax returns
- Business entity tax analysis to ensure maximum tax benefit
- Year-end tax planning with projections and checklists
- Tax planning designed to eliminate end-of-year tax surprises
Expert Childcare Business Advisors.
- Coaching and consulting provided by childcare business experts – folks that really know how to help you build a successful childcare businesses
- Monthly online meetings
- Monthly financial analysis and planning
- KPI tracking and action plans
- Assisting you with financing, capital investments and growth
- Profits and cash flow management