Controlling and reducing the expenses of your childcare company or school starts with knowing what the expenses should be. Many company owners, presidents and CEOs started in this business with a somewhat vague knowledge of expense levels and an entrepreneurial spirit that told them they would figure it out. Approximately 20% survive the early years
As it pertains to the buying and selling of an early education company (childcare centers or schools), a Letter of Intent (“LOI”) is a written statement expressing the intention of the participating parties to enter into a formal agreement. A LOI is not a formal agreement or a binding contract. The LOI serves the very
One, always talk with the proper professionals like attorneys and CPAs before taking action. Do not make any decision based on this exchange of information. With that said, there are a number of smaller variables but only two basic ways to structure ownership of a childcare business component and its real estate. The childcare business and
Problem employees are the ones that are constantly in your thoughts and robbing your mind of time and resources that are needed for the other factors that make your childcare company or school successful. One minute you want to fire them at the top of your lungs, and the next minute you’re worried that they
Collection problems can be sorted into two primary types. The first is collecting from private pay clients, and the second is collecting various subsidy funds from federal, state or local government. PRIVATE PAY CLIENTS (From 100% to Subsidy Differentials):Private pay clients are oftentimes like children who are simply testing boundaries. Operating in this mentality,
Getting the best real estate appraisal for your childcare real estate for the best price is a function of four things. Knowing the type of appraisal you need Hiring the right appraiser Reviewing the appraisal. Researching and asking the right questions of your appraiser. First, not all appraisals have the same purpose or cost so
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