BUSINESS PLAN FOR Daycare, Schools And Institutions
Day Care is not the easiest business to make money.
Most people who start a daycare are more interested in working with kids and not just making money.
However, as a moneymaker, I feel there is no reason you should not be financially rewarded, especially since you are the first influence in shaping the future of kids who come to your daycare.
I wrote this business plan for a client of mine who started a daycare. I wanted her to be financially rewarded for her love and dedication to kids.
If you own a daycare or are planning to start one, just follow the steps in this plan.
It will help you build strong daycare that will empower you to help kids not just in your neighborhood but worldwide.
At the same time, it will reward you financially.
I am a firm believer that you cannot keep helping the world if you are not enjoying that world yourself.
Therefore, I want you to also become financially successful along with your pursuit to help kids.
STEP 1: Choosing A Good Name
The very first step is to pick a good name for your daycare. Don’t pick a name that could run into copyright claims.
It is tempting to us ea cute cartoon name like Nemo but that can land you in trouble fast.
This will be a bigger issue when you try to grow your business, run ads or start selling the franchise for your daycare.
I would highly recommend that you hire a naming company to help you with a good name.
Your brand name makes a big difference. If you have a marketable name it will help you grow fast, else you will probably go through a name change later.
STEP 2: Identifying Your Audience (Rich Or Poor)
The next step is to identify who you will be catering to. Do you want to start a daycare for low-income parents or rich parents?
You need to know this in advance because this will help you decide your daycare design, curriculum, marketing material, teacher dress code, and almost everything else revolving around your daycare.
I would recommend that you create a brand for elite and wealthy parents but accommodate mid and low-income families.
This strategy gives your daycare the best shot at growing fast. Everyone wants to be part of an elite institute.
I have a worksheet called 5X Customer Avatar. I make all my clients fill this.
When you fill this worksheet you will get an in-depth understanding of your clients and you will be able to create a daycare that appeals to them.
You can download it here:
https://go5x.com/5X-Customer-Avatar.pdf
Step 3: Think Of Something Unique That No One Else Offers (USP)
This is going to be the most important step in creating your daycare.
In this step, you need to design your curriculum and marketing.
You need to identify what is unique about your daycare.
What is so special that no one else is offering and will make parents chose you over other daycares.
From my research, I find that when choosing daycare parents consider following the most:
a.) Early Child Development Course: They need to know that your day course can have their child with development.
That there is a natural progression to help the kid as they grow.
This is why you need to be creative and have a unique early child development program that no other daycare offers.
This is very easy to accomplish. It takes a little creativity to create something unique, helps kids and marketable.
If you are not sure where to start, look for some Early Child Development courses online.
This is what I did for my last client.
I looked for a few popular courses and read the reviews.
It helped me identify the topics that were popular and also weaknesses that parents were complaining about.
We took the strengths and made our version of it and added the things that were lacking from negative comments.
This helped us make a proven course because we know the majority of parents and instructors liked. We knew this from reading the reviews of popular courses.
Then we just gave this a new name and turned it into our own unique Early Child Development Course.
Which we then pitched to our clients and had no trouble convincing them to send their kids to our daycare.
You can also take some online courses and model after them to build your course.
Carecourses.com is one such course with great reviews
https://www.carecourses.com/PublicPages/Reviews.aspx
Class Central has another course with decent reviews:
https://www.classcentral.com/course/open2study-early-childhood-education-1000
This course will be everything when it comes to making big money so spend as much time as you can here.
b.) Child Happiness: The next thing parents care is about their child’s happiness.
They need to know before they register their kid and even after registration that their child is happy with you.
We will discuss this more in step 5.
c.) Status: Every parent wants to be proud of the quality of life they give to their children.
Your job is to build and maintain an elite reputation for your daycare.
It is not just another daycare but an elite daycare for a few selective families.
Instead of chasing parents to send their children you need to make them chase you.
In almost every high-end coaching business I ran, clients had to go through an hour-long interview before I accepted them into my program.
I had to be convinced that they were right for my program.
I was interviewing clients who would pay me between $3,500-$200,000.
This made them feel special and privileged to be accepted in my program.
They would tell everyone in their circle that they were accepted to train with me.
You need to do the same thing to build a strong brand.
No matter how desperate you are to fill your daycare do not chase or compromise.
Have a selective admissions process. Make parents and kids qualify for admissions.
It will make them feel special and privileged.
They will work along with you and tell everyone about your daycare because they feel proud to be accepted.
This will help you build a strong and elite brand in the long run.
We did this for a school in India.
We did a press release campaign before opening admissions.
The press campaign talked about how parents were waiting for 6-7 hours to collect admissions forms and that there were only a few admissions forms that will be handed out.
The result was that we had parents wait in line almost 12 hours before we started distributing the forms. They did not want to miss the opportunity.
Even though we were desperate to get admissions we now had parents lining up to get admissions.
Make sure to present yourself as an elite and selective daycare and you will have no problem filling your daycare.
You can also offer special services that stand you apart from other daycare. We will cover this in the next section
d.) Convenience: When possible try to add as many facilities as you can to spoil the parents.
This will go along the lines of being an elite school that provides special services for parents and will add to your income.
Your job is to make the parents depend on you.
You need to become a part of their life and you will have no shortage of people wanting their kids to attend your daycare.
You can have a special app for your daycare. Send updates and photos of your kids through this app all day long.
Having an app already positions you an elite school with elite conveniences.
It also is a great marketing opportunity because now parents will show the images of their kids to their friends and coworkers which will get you free publicity.
If possible have extra play space for kids to play.
Try to have longer hours if your plan and budget allows you. The more free time you can give to parents, the more they will want their child to go to you.
I know daycare’s where you can drop your kids as early as 7.30 in the morning and pick them up as late as 6.30 in the evening.
Some daycares have special services like dry cleaning, potty training, meals for takeout, field trips, Fri night babysitting.
These are all opportunities to make parents depend on you and make extra money.
Step 4: Getting Second + Continuous Sales
Now you have your own customer list. These are people who purchased your products.
Figure out a way to sell more products to them. Everything you earn from this second sale will be your profit.
You already have their contact information you do not have to spend any money on ads to reach them. You just have to send an email or make a phone call to get additional sales.
Here are a few strategies you can use to sell more products to them:
A. Offer a quiz For personalized order.
Create a quiz to help customers order personalized products. For example, if you are selling luxury watches, you could create a quiz to determine which watch type will be ideal for your customer.
You can ask a few questions to discover what occasion they need the watch for? And if they like mechanical or digital? and if they prefer big or small etc?
Then you can make a recommendation so they feel that you are suggesting the watch which is just right for them.
Now they will be more willing to buy your recommendation because it is tailored for their unique situation.
Many websites use this strategy to sell watches online.
Chrono24.com is one of them:
https://www.chrono24.com/
You can create a similar quiz to sell jewelry.
Angara.com has a quiz on their site to help people discover the right jewelry for them.
I HAVE A GREAT QUIZ PLUGIN FOR WORDPRESS. I PAID A LOT OF MONEY TO GET IT CODED FOR ME. THERE IS NO OTHER PLUGIN LIKE THIS OUT THERE. YOU CAN GET IT FOR FREE HERE: https://go5x.com/free-quiz-plugin/
B. Trap them with incentive.
Caboki does this really well. Every time you buy a product from them, they give you a certain amount of dollar credit for future purchase.
This makes you feel that you already have $3-4 sitting in the account and so you place a repeat order with them.
You can also offer a discount coupon but from my tests giving dollar credit in accounts way more effective than discount coupon.
Also, make sure the credit you give them is dollar value and not just points. The dollar makes more sense to customers.
When they buy a product using the discount make sure they still get a new dollar credit. This will keep them trapped for life in the buying cycle.
I know this well not because it is working great for my clients but because I am a victim of this trap myself 
DISCOUNT COUPONS:
You could also send discount and bulk buying coupons to your customers.
FREE + SHIPPING OFFER:
You could also sell them more products using FREE + SHIPPING model.
In this model, you do not charge for the product but just shipping and handling.
You basically make money as handling fees.
This is a great way to get rid of extra or expiring stock.
But more importantly, it is a great strategy to capture your prospective customer’s email or phone number so you can sell them your jewelry or watch later on.
PAY WHAT YOU WANT OFFER:
On my favorite way to make money these days is to use PAY WHAT YOU WANT strategy.
In this option, you tell the customer to pay what they want.
This works great for a new product or to bring back customers who have not purchased for a while.
When you tell people to pay what they want, people generally pay good money.
They respond to your generosity with theirs.
I generally price my product at a higher price because people will always pay you less than the price.
So if you say your product is worth $100 they will pay you $20-30 and even 50.
But if you say you have a product for $50 they will not pay you $50.
I use Smart Pay Cart From DigitalAccessPass.
This is one of the best shopping cart with great sales features and best customer service.
SmartPayCart has the option to use Pay What You Want on your site.
You can get this shopping cart here: https://smartpaycart.com (I do not earn any commission for this referral)
There is another great tool you can use to get additional sales.
There is a plugin called spin to win.
Basically, you can program it so when your repeat customers can play the game of spinning wheel and win a special prize.
It could be anything from free shipping to a 20% discount. Here is an example from Neilpatel.com website:
You can get this plugin here: https://spintowinreward.com
In addition, you can make a little extra money under shipping and handling but 99% of the time you will make enough money to not have to worry about charging extra shipping and handling.
These strategies will get you extra sales which is your profit now and also will create a sales loop of getting regular repeat sales.
C. Start A Competition + Giveaway.
Now that you have a list of buyers encourage them to participate in social media.
Create a competition and ask them to post a picture with your product, a story around it or success results, etc.
If you are selling men’s jewelry or watches ask men to pose James Bond Style and the most upvoted will get a FREE watch or bracelet.
This is the fastest way to get new customers without spending money on ads.
Everyone who will post a photo will ask their friends to like their post. Many of their friends will now buy it from you.
You can also start a competition where you ask them to tag a friend who could benefit or look good in your watch or jewelry.
Norwegian Cruise did for teachers. They offered a free cruise for the teacher who gets the most votes:
You can also set up free giveaways using websites like https://www.rafflecopter.com and https://promosimple.com
D. Get Reviews In Exchange For Goodies.
One last idea is to ask customers to write or record a review in exchange for a discount or even a free product.
This helps you get more reviews which ultimately results in more sales. The customer also appreciates freebies and by more from you.
Step 5: Hire Distributors/Agents
One of the things most businesses ignore today is offline marketing.
There is huge money to be made offline. You can recruit distributors worldwide.
Not only will it increase your sales but you can charge them a deposit or distributor fees anywhere from $1000 to $10,000.
If you can recruit just 10 distributors that is $100,000 in fees in addition to product orders.
Many countries in the world would love to carry products originating out of the United States, UK, and Europe.
There is a huge demand for imported good, especially in third world countries.
A country like India with a population of billion people has the potential to scale your business overnight.
But you do not have to go so far. You can start by recruiting distributors in your own region.
Step 6: Turn your product Into Income Opportunity
One of the biggest money maker in online marketing today is sales from affiliate promotions.
There is a huge market of people who are interested to work from home today.
Not everyone is interested in creating their own product. Most people want to promote other people’s product and earn a commission.
You can start your own affiliate program and then recruit affiliates.
Show them how they can make money by promoting your products.
Help them start and grow their business by giving them marketing lessons.
These days there are tonnes of free online marketing course that you can point your members to so they can learn how to make money by selling your products.
The more people promote your products the more exposure you will get ad the higher your sales will be.
You can approach social media influencers and recruit them as your affiliates.
Step 7: Place your products In Stores
Most new businesses today focus on online sales. In addition to online sales, focus on placing your products in stores. This is extra sales and extra revenues.
Hire distributors and agents in various territories to get a product placed in stores.
Hire a part-time employee whose job is to go to various stores and negotiate product placement.
If you do the above now you have a channel to bring in customers and strategy to sell them more on a regular basis.
In addition, you have other people like affiliates and influencers promoting your products and finally, you have your products placed in stores.
These three channels should bring you massive sales and cash flow. In addition, you will also make collect distributor fees which is an added bonus.
You can reward yourself with part of the fees and spend the rest to make your brand even stronger by placing your product in pop culture via TV and Films.
This will give you brand a massive exposure, status and create demand.
You can use services like https://hollywoodbranded.com or http://heropp.com to get your product placed in media.
This will instantly boost your brand and give it the necessary boost to get sales.
Hope you find this strategy session helpful and it helps you to build a successful business.
Good Luck!
-Magic
Get A Step-By-Step Marketing Plan For Your Luxury High-End Watches And Fashion Jewelry
[thrive_leads id=’80846′]