Theresa Kennedy Instructor
The business plan I chose was a child care services business plan titled Kid’s Community College, this business plan is very well thought out and provides much strength. The owner/proprietor has seventeen years of executive management experience, budgeting experience, and has a lot of knowledge in advanced technology. The industry consultant is relied upon for industry expertise and offers insight regarding rules and regulations, and government programs.
This person is qualified as they own their own licensed day care. The campus director has a BS in education, two years experience as a Facility Administrator, two years experience as an Operations Manager, five years of managerial experience, and three years of grant writing experience. The vice president offers college level public relations experience, five years of customer service experience, eight years of child care services experience, and extensive knowledge in dance, art, and theatre.
The business plan expresses a need for an experienced CPA and expresses that some of the current members need to obtain their Child Care Development Associate credentials, which will be a requirement among future upper-level employees. The business model is very well developed and researched. The plan provides breakdowns of what capital is needed to start-up, maintain the business, and provides an anticipated growth plan for the next three years. The plan also provides information on how many students are required to be enrolled, on an average weekly basis, to break even.
Furthermore, the plan provides information for anticipated growth into a franchise consisting of three separate locations. The owner also researched the need for services in the area, the competitors and how to offer services to differentiate the Kid’s College from competitors, and how many “target” homes were within the ten mile radius. The owner also researched what the projected growth of the community is by researching construction of new homes. I believe the services this plan depicts are well-designed to compete with competitors in the surrounding areas.
I also think the company has a sound mission statement and has put much thought into how to go about achieving the goals stated in the mission statement. I think this business will attract many clients as the owner intends to be active in the community, form partnerships with local businesses, and offer discounts to clients of partnering businesses. I believe the market segments are accurately targeted. The price the organization will charge for the services they intend to offer will meet this segment’s budget, and there is definitely a need for quality child care services when both parents have a career.
The location of the proposed business is in a medical plaza which also houses a fitness center. Clients of the fitness center have already expressed a need for child care services. The company has ideal plans for marketing their services. I think the pre-enrollment drives, waiver of application fees on initial start-up of the business, and community weekends will be a superior way of attracting clients and building a strong reputation.
The start-up members provide adequate support for customer service relations and management responsibilities, but I feel as the business grows these areas will need to be strengthened. I also feel the educational instructors and activities instructors need to be implemented as soon as possible so as not to weaken the mission statement and goals of the facility. The plan was very well organized and thought out. The charts provide a detailed break down of revenue which shows that the company will be stable, and make a profit.
Further break downs show that a minimum average of thirty four students a week is necessary to break even. The customer demand for child care services in the area is increasing. The owner cites the 2000 Florida Business Census shows there is an annual population growth of 2% per year and with the residential construction that is under way this growth is supposed to reach 14. 6% per year. The existing business plan has room for potential growth if necessary. The employees’ growth is anticipated and encouraged through various incentives.
The plan proposes encouraging employees by offering incentives for obtaining quarterly financial and enrollment goals, probationary completion, passing county inspections that may be required, perfect attendance, tuition reimbursement, and customer service awards for those who exceed customer expectations. These incentives will motivate employees in their jobs and increase product quality.