Mama's Daycare: Business Plan

Our Mission

The need to make more money, have control over one's life, have flexibility and even make a legacy are just some of the reasons people want to become entrepreneurs. Being able to achieve these things while doing a good and quality job as it is even better. Despite the challenges and hardships, one must face, determination and perseverance help one succeed, and the outcome of it all is sweet and satisfying (Alton, 2015). Mama's daycare will offer superior and quality day care services to parents. The services provided will be very personal, and of high quality just as the parent would do if the child was at home. Our team will make sure that child's stay will be as home-like as possible. Parents will be at peace and will be able to work well knowing that their children are being taken care of properly. We understand that hiring a stay at home nanny has become very expensive, and this is the reason we decided to come in and help the parents out.

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The Business And Management

In entrepreneurship, it is very crucial to know where one will locate his or her business. One has to look at the location carefully to make sure that the primary purpose of opening the company get served. It will, in turn, benefit the entrepreneur and the consumers too (Slaughter, 2017). Mama's daycare will be located in the city of Irvine in California where there are a lot of residents. It is a business owned by a mother and daughter. Catherine the mother has experience in early childhood development and mercy the daughter holds a degree in business management. Each one of them has over seven years of experience in their respective fields.

Management of mama's daycare consists of ten caregivers, four qualified nurses, six nursery school teachers, two drivers and a pediatrician.

Our Services

The services one offers will also determine if people will want to deal with you. Offering services that are of very high quality and different from what your competitor is offering are very crucial if you are going to succeed in any business. Being able to solve a problem experienced by someone is very noble and satisfying too. Both the consumer and the entrepreneur are bound to rip the benefits of this. Our clients are parents or guardians who cannot afford to hire home nannies or would prefer to have their children taken care of in daycares. Mama's daycare will offer a variety of services all in a homely environment. These services include

1. 24hrs daycare services for parents who are on a shift schedule
2. Providing transport services that are we can pick and drop children at the request of a parent.
3. Potty training
4. Games that engage children minds and also enjoyable ones
5. Early childhood learning to the children
6. Balanced diets and snacks. Parents will not bring food from home.
7. There will be a breastfeeding area for parents that might want to come and feed their children during work breaks.
8. We will provide diapers.

The Market

Since the need is a source of innovation, daycare services got introduced to the world (Drucker, 1985). Across California, daycare services have grown so much over the last five years. Irvine being a residential area, the number of children is high. Our research has shown that almost every household has a child or two and most of these parents cannot afford to hire nannies.

Our Competitive Advantages

For every business to have a chance to compete with the rest of the companies, then one must be willing to provide services or products that are not being offered by the other one. Entrepreneurs should be able to ask themselves why consumers should choose them and not their competition. A business person should be able to make sure the business they want to start is about something to leave a lasting impression on the consumer. It is a sure way to beat the competition and to make sure the customer or consumer comes back to you (Voogd, 2016).

There are over twenty-day care centers in Irvine but only three of them offer 24-hour services, and ours has the advantage of being a 24 hour, seven days a week daycare center.

• We have qualified caregivers who have been trained specially to provide quality services to our clients.
• We have a pediatrician who will attend to a child in case of illness or accidents.
• We have a van that can pick and drop children should parents request us to.
• We offer a variety of food and always give a balanced diet.
• Our facility is very homely enabling the children to adapt very easily
• We offer potty training to children, unlike most daycares that only want children that are already potty trained.
• We offer diapers so a parent does not have to worry about what the child will be using while with us.

Financial Projections

For every company to succeed it is very important for there to be financial projections that will show if the business will be profitable or not. It will help to know where changes can get made and if there are areas where cost can be cut to as to reach the targeted result. Based on our research on how much daycares charge, we concluded that we would be charging fifty dollars a day or the parent can opt to pay one thousand two hundred a month. We project that in our first year we will be able to accommodate approximately a thousand children.

By making this amount, we will be able to pay all the workers and also make a profit for the daycare. It will enable the daycare to expand and bring in more children and more workers in the long run.

We already have over thirty parents that have promised that they will bring their children to our daycare and we believe that this will bring success to our business. Having full-time nurses and a pediatrician is a sure way to attract more customers or parents to join our daycare. Parents always want to feel that their children are in safe hands so that they can be able to concentrate on their work.

Aggressive advertising is another thing we plan to do as this will make our daycare known all over Irvine. We already have a team in place that will be responsible for the advertising, and with good teamwork, we know that this will be a success.

Startup Financing Requirements

Mama's daycare is planning on starting with a budget of one hundred and fifty thousand dollars for the first year.

References

Alton, L. (2015, August 12). Retrieved from The 5 Motivations That Drive People to Choose Entrepreneurship: https://www.entrepreneur.com/article/249417

Drucker, P. F. (1985). Innovation and entrepreneurship. New York Harper and Row publishers.

Slaughter, T. (2017, January 21). Retrieved from 7 Sources of Innovation: https://www.linkedin.com/pulse/7-sources-innovation-thomas-slaughter

Voogd, P. (2016, August 5). Retrieved from 5 Ways Entrepreneurs Can Gain a Competitive Advantage: www.entrepreneur.com/article/243717