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For example, if the area around your future daycare center has 3,000 kids under five-years-old and only two daycare centers serving them, you’re in good shape.
Make sure to find out if it is a gross or net rate.
How many kids are in your daycare center’s neighborhood and how many daycare centers already exist to serve them?
Another thing to watch out for with monthly rent is all the added costs.
Say your price is $20 per square-foot and your building is 5,000 square-feet. Divide that by 12 to get your monthly rent: $8,333.
Take an average daycare center in a city that has, say, 100 kids enrolled.
If you’re in a neighborhood that has 2,000 kids you still have room for a few daycare centers to serve demand, assuming around 10 percent to 20 percent of parents will enroll their kids in daycare.
Projected enrollment growth and market demand can also be tricky to estimate.
From knowing your competition to picking the right place to establish your daycare center, there are a lot of lessons to be learned.
Will you offer discounts, or accept government-subsidized or reduced payments from lower-income parents? For detailed information on the size of your primary market, there are helpful resources, such as this guide from IBISWorld.
This insightful article from Forbes is also a good resource, and notes that the U. Bureau of Labor Statistics expects daycare to be one of the fastest growing industries in the next few years.