Blog

Childcare Franchise

How to Handle Funding With Your New Childcare Franchise

There are a lot of ways to get the funding you need for your Mason childcare franchise with silent or active partners, grants, family lending, or financing through a sponsor or group. While having enough money to start your business is important, you don’t want to over-finance because you will have to pay back most financing options, grants aside. The best way to keep your finances in order is through the help and organization of a business plan.

Business Plans

Before you seek any additional financing, a written business plan should be completed and proofread so that your intentions are easy and clear. Your business plan will be presented to potential money lenders, so it should clearly state where all of your funding needs are and where the money will go, when. This business plan, if well-written and well-thought out can actually help you acquire funding from other business professionals as you show your professional planning and the time you’ve already invested into your Mason childcare franchise.

If you’re unsure where to start with your business plan, you can talk to your franchisor, other franchisees, business attorney, family, or consult franchise books, websites, or other directories for information on building business plans. Business building books can actually be an excellent resource for details and referencing when it comes to running your business during startup and the little nitty-gritties that might not be in our operation manual, but are helpful for business owners.

There is no set length for a business plan, so when you set out to write yours, you shouldn’t do it with the I will write until I hit this page number, but rather, I will write until I have everything planned out that needs to be planned out for my Mason childcare franchise.

Your business plan should include:

  • Startup Budget
  • Operational Budget
  • Marketing Plan and Budget
  • Staffing Needs and Budget
  • Attendance Goals
  • Profit Goals
  • Business Policies (discipline, disease prevention, emergency, safety, etc.)
  • Other items specific to you

Your business plan doesn’t have to hold all the information for your Mason childcare franchise, but should have something to do with the budget. For things such as teaching services and classes, other services offered, hours of operation, payment schedules and choices, holiday hours, employee rules, and so on, you may want to make a separate plan. In cases where a topic or focus directly affects your budget, add it to your business plan.

When you go to an investor or government agency for money, have all documents for your Mason childcare franchise prepared. The more information you have organized about your All About Kids location, the better. On that same note, if you go to any potential investor with a poorly planned or sloppy presentation, it’s going to reflect on you as a business partner,how you will run your business, and your franchisor as a whole.

If you’re not confident in your abilities to write, hire someone to write your business plan for you. It’s better to have it done right than to make the mistake of doing it sloppily and setting a poor reputation for yourself early on in the process.

Again: never seek financing without a business plan.

 

Continue Reading This Series With:

All About the Startup Costs – Childcare Franchise Opportunities

All About Kids Child Care Franchise © 2018

Design by: Web Strategy Plus