Small Business Funding Options For Child Care & Day Care Centers
Anyone with children knows the cost of quality daycare can be a hefty expense. This is due to an increased need for daycare because many parents have full-time jobs. Like many other businesses, the amount of money a daycare makes is close to the amount of money it takes to stay in business and keep their reputation among their customers.
Running a daycare is very expensive and is not very profitable. Daycare centers cannot simply hire more employees and hope to increase their customer base, they must follow state laws and keep a specific staff-to-child ratio. Payroll can consume a majority of the businesses revenue. Finding people qualified to work a daycare is difficult so when a new employee is found they must be paid well.
Tangible assets such as toys, play areas, cribs, and storage areas can cost hundreds of dollars per child. Day to day equipment must be up kept often and cleaned which can lead to many expenses. Since more and more daycares are opening everyday advertising and marketing campaigns are a necessity to keeping customers. With all of these expenses plus rent, taxes, insurance, maintenance, daycare owners can expect profit margins below 10%.
First Premier Funding can take your business to the next level and boost your revenue overnight. Apply today and get the funding to grow your business past the competition.