The Lil Genius Kid

"The world is filled with opportunities just waiting to be found by the energetic and intelligent person who is seeking.”

According to the National Economic Impact of the Child Care Sector study, sponsored by The National Child Care Association, "By the year 2010 upwards of 85 percent of the labor force will consist of parents, and the number of working women will exceed working men." This same survey stated that by that same year, "the U.S. is expected to add another 1.2 million children aged four and under, a 6% increase." The results of this study along with the statistics from other studies supports the childcare industry as continuing to be a thriving and growing industry.

Key Childcare Statistics

• $38 Billion Industry
• Children 5 years and under expect to grow, a 6% increase
• 65% revenue from children facilities

The child care industry and children education business is a growing market. This business comes in all sizes from your small child care home, the small tutoring center to the large commercial day care centers. There are several education based franchise opportunities offered by well-known educational brands, many of them centered around either day care or tutoring services.

It is always important to research the opportunities from the company provided literature and through 3rd party sources to help provide you with a well rounded view of the franchise opportunity.

If you are interested in starting a business catered to teaching or caring for kids, here are some simple steps to help you plan and manage your business.

1. Before you begin to consider getting into the child care business or the education business for children, be sure to contact your local business development office in your town or region for helpful statistics and resources on the demand for such a business.
2. Child care providers may be licensed or exempt. In order to ensure that you follow protocol, it is important to check with your local county and state requirements (Department of Social Services - Child Care Division) to find out the necessary protocol to operate your business legally. You may or may not be required to take additional courses to qualify for opening your business.
3. Do not rely on information from other competitors or the internet. Every county and state has its own criteria of what they consider day care and what they consider exempt from being licensed.
4. Check with your local city about the type of business license you may require.
5. It is always important to conduct a survey of the children center(s) in the area you wish to open. Even if you wish to open a small tutoring center (and not a large commercial day care), it is critical to do your homework and research the competitors in your area. Visit the Bureau of Labor Statistics for more data and statistics about the child care industry http://www.bls.gov/oco/cg/ .
6. Write a business plan. Your business plan should include your own mission, goals, operations plan and projected financial goals. Some important factors to consider when developing your business plan include how much time, money and responsibility you are willing and able to invest in your business.
7. Begin looking for locations. Be sure to consider traffic and convenience for young families. Locations near residential neighborhoods, schools, shopping centers and office complexes are good places to start. Check with the local zoning laws or visit the planning department of your city and find out the zoning ordinances that would allow for your type of business.
8. Check with other departments in the city such as the Fire Department and Building Department to see if you require any approvals from them to open your business. These are all important factors to review and consider in your business plan and budgets.
9. Call The Lil’ Genius Kid™ Head Office for more information and a step by step guideline to becoming your own boss! Meet our founder – click here