Here are the basics…
- Know the competition.
- Know the demographics.
- Know the traffic patterns.
- Know the political and budget discussions for the state, county and city/town.
- Know the school system including locations of elementary schools, potential for partnerships like latchkey programs and any plans schools may have for competing in our industry.
- Know the zoning laws.
- infousa.com This company provides a paid service, but they offer a way for you to very narrowly define your market and get a list of prospects for your business that matches your criteria.
- See the government websites for your specific area of interest.
- Where possible, talk with local politicians, developers, other entrepreneurs (in other industries) that are located in the area. Listen to the positive comments, but listen more closely to their complaints.
We’ve seen childcare companies and schools that have become wildly successful with seemingly no early research by their founders, but it’s better to do your research. Remember, good research is far less expensive than “experience”.
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