Article Link: http://exchangepress.com/article/is-child-care-a-good-business/5007362/
For the past year, Keith Stephens has been conducting a study for Child Care Information Exchange and Directors' Network on the financial strength of for profit child care centers. For Directors' Network, he compared the financial statements of 39 independent centers. He also analyzed the financial statements of six publicly owned child care organizations operating over 2000 child care centers. Exchange interviewed Keith so that we could share with our readers his keen perspective on the industry. In this issue, we share his insights on how good a business child care is and why some companies are more profitable than others. In the next issue, Keith will synopsize the key financial indicators to watch to improve financial performance.Why are people attracted to the child care business?
Most center owners get into the business primarily for personal reasons. They decide first that they are interested in early childhood education and second that the way to get involved is to open their own business-not the other way around.
There are a number of economic reasons which make owning a child care center attractive. First, it is a clean and respectable business to be in. You are providing ...