Running head: Project on Childcare
I Picked Childcare: In Business Capstone
Jazmin Filer
Rasmussen College
Author Note
This project paper is being submitted on July 27, 2014, for Ryan Averbeck's
B280/GEB2930 Section 01 Business Capstone Course.
Project on Childcare
I am getting my degree in Business Management but for my project I picked a child care
business, because I want to run my own in the near future plus have over eight years of
experience.
If you read online news articles on a number of web sites from Yahoo! to Google, you
will find a recurring theme. There are books, magazine articles, and television specials related to
the problem. There are more things to do in a day than there are hours to do them. There are a lot
of issues relating to the children care are found. As the government are doing his job quite well
but there are also some sort of responsibility on us to make aware the peoples about childcare
and help them. Just because of we are in touch with them by regular interaction. They know us
well and we also know them well. Actually child care is the supervision of the children’s usually
form age of six to thirteen. Normally child care involve in day-center, baby sitter and other
providers. There are a large range of the tasks that should be included in the child care. In which
the business ethics also plays the vital role in both the quality of services and profitability of the
firm. Actually child care is a broad topic having different activities, cultural and social
convention and institutions. Children are the future assets for the country prosperity therefore it
should be properly deal and managed.
The business that is being proposed would use the need of the child care services as the
opportunity for their business. It is being giving the services to solve the problem of child care
because in now a day the household cannot give proper time to their children. Since there is an
opportunity cost and trade of for each choice, it would be up to potential customers whether they
would rather pay someone to assist them with certain tasks or try to do it all themselves. The
company will advertise itself not as a cleaning service or a babysitting company but as a lifestyle
Project on Childcare
management service. The employees will be background checked, bonded, and insured. They
will be available for helping the peoples through the provision of quality services regarding the
children’s care. Any errands or tasks that fall into household management would be acceptable.
There would be a per hour fee for each client and it would be up to the client how often they
want help whether it is one hour per week or more or ten hours for one time only.
All in our entire project must follow the moral management approach for their business
ethics. Which is suitable and best fitted for the scenarios. This approach emphasizes the
economic responsibility, legal responsibility. Ethical responsibility and philanthropic
responsibility. By this approach our project can achieve a good corporate social responsibility
and hence they have highlighted their image among their competitors. This attracts the customers
to itself. And through this the project can achieve its profitability.
Project on Childcare
Business Letter: In Business Capstone
Jazmin Filer
Rasmussen College
Author Note
This project paper is being submitted on July 20, 2014, for Ryan Averbeck's
B280/GEB2930 Section 01 Business Capstone Course.
Project on Childcare
To: jill.rhea@gsa.gov
From: jazmin.filer@smail.rasmussen.edu
July 20, 2014
Subject: Nationally Accredited
Dear Ms. Jill Rhea
I am currently working with a friend who has just recently opened her childcare center. She is
already licensed with the state, but we are wondering how do we go about getting Nationally
Accredited? If forms are need would you please send them as an attachment so we can begin the
process?
Thank you so much for you time.
Sincerely
Jazmin Filer
Running head: Project on Childcare
I Picked Childcare: In Business Capstone
Jazmin Filer
Rasmussen College
Author Note
This project paper is being submitted on August 01, 2014, for Ryan Averbeck's
B280/GEB2930 Section 01 Business Capstone Course.
Project on Childcare
Executive Summary
Safe Kids Child Care is a start-up association that gives day forethought administrations
to Lynn, MA, a suburb of Boston. This fair sized tyke mind office serves kids from three months
to six years old. Their administrations are protected and secure, giving the folks a fantastic spot
where their youngsters might be dealt with.
The Market
The kid forethought business is truly focused in the Boston zone. There are in excess of
300 separate offices. There are two general sorts of offices. The bigger style is economically run,
ordinarily a corporate establishment focus. These offices are both local and national. Right now,
the four biggest tyke mind offices in the USA represent 29% of the business. There are
additionally numerous distinctive more modest provincially run and claimed personnel. While
the biggest offices can have between 20-100 youngsters, the generally run focuses ordinarily
have a greatest limit of 20 kids.
As said prior, the business sector is very focused. Safe Kids will utilize two
methodologies to separate themselves. The primary is an estimating structure where Safe Kids'
administrations will be evaluated at 5%-10% short of what the bigger business run offices. The
second separating exertion will be seat checked client administration. A client driven theory will
be mixed inside the whole association. Safe Kids will use additional cash to draw in and train the
best workers. This is particularly essential in light of the fact that it is the workers that cooperate
with both the youngsters and folks and will have the best opportunity to awe them enough to
transform them into an unwavering client and in addition to be vocal in informing their
companions concerning their positive kid forethought experience.
The Customers
Project on Childcare
Safe Kids will be focusing on two diverse target client sections. The main is full-time
working couples. This gathering is gauge to record for 80% of Safe Kids' business. This
gathering is developing at a rate of 25% and there are in excess of 100 potential clients in a 10
mile span. The second gathering of clients are drop in, clients who use Safe Kids sporadically, at
whatever point the need emerges. This gathering is developing at 20% and there are 50 potential
families.
The Management Team
Safe Kids will be lead by two tyke mind industry veterans, Taffen Anderson and Jazmin
Filer. Jazmin has a deals, advertising, and administration foundation inside the business, having
put in seven years at The Toddler Warehouse. Amid her residency at Toddler Warehouse, Jazmin
helped develop the business from $98,000 in yearly income to over $4.6 million. Jazmin's
accomplice is Taffen Anderson who has an account and organization foundation. Past to Safe
Kids, Taffen worked for The Rug Rat Vault, the seventh biggest youngster mind enterprise in the
USA. While Taffen was at The Rug Rat Vault as CFO, she could expand working benefits by
12%, a build that is by and large inconceivable in this industry.
Safe Kids is an energizing open door that gives sheltered and secure youngster
consideration to the Lynn, MA neighborhood. Safe Kids will arrive at economical gain-fulness
throughout the following three years, with $674,000 in deals by year three. Through a blending
of generally valued administrations, remarkable client administration, and an overall prepared
administration group, Safe Kids will rapidly increase piece of the pie and a notoriety for being a
head kid mind supplier.
Chart: Highlights
Project on Childcare
Mission
Safe Kids Child Care means to offer sheltered and secure kid mind at all times. Close
individual consideration regarding every kid is crucial to giving a quality experience to all
youngsters; accordingly, sufficient faculty will be enlisted to guarantee every tyke has the best
possible supervision will in our forethought.
Keys to Success
Keys to success for the company will include:
•
Keeping up a respectable and untarnished notoriety in the group.
•
Quality consideration.
•
Focused evaluating.
•
Adaptable hours.
Company Summary
Project on Childcare
Safe Kids Child Care is a start-up overseen by two accomplices. Both have broad
encounter in the youngster mind industry, and have kept up phenomenal notorieties in this same
industry. Moreover, these two accomplices are fit for taking care of the deals/administration and
fund/organization zones, separately.
Company Ownership
This business will begin as a basic proprietorship, claimed by its authors. As the
operation develops, the managers will consider re-enrolling as a restricted risk organization or as
a company, whichever will better suit the future business needs.
Start-up Summary
The organization originators, Ms. Anderson and Ms. Filer, will handle regular operations
of the business and will work synergistically to guarantee that this business wander is a win.
It is evaluated that the start-up costs will be $3,000 (counting lawful expenses, promoting, and
related costs). An extra measure of $67,000 will be needed as start-up stakes. The start-up
expenses are to be financed in equivalent divides by the holders' close to home supports and by a
$30,000 5-year advance.
Table: Start-up
Start-up
Requirements
Start-up Expenses
Legal
$1,000
Project on Childcare
Brochures
$350
Stationery etc.
$100
Activity Supplies
$250
Food Preparation Supplies
$300
First Aid Supplies
$200
Cleaning Supplies
$150
Nap Time Bedding
$250
Other
$400
Total Start-up Expenses
$3,000
Start-up Assets
Cash Required
$67,000
Other Current Assets
$0
Long-term Assets
$0
Total Assets
$67,000
Total Requirements
$70,000
Project on Childcare
Table: Start-up Funding
Start-up Funding
Start-up Expenses to Fund
$3,000
Start-up Assets to Fund
$67,000
Total Funding Required
$70,000
Assets
Non-cash Assets from Start-up
$0
Cash Requirements from Start-up
$67,000
Additional Cash Raised
$0
Cash Balance on Starting Date
$67,000
Total Assets
$67,000
Liabilities and Capital
Liabilities
Current Borrowing
$0
Long-term Liabilities
$30,000
Accounts Payable (Outstanding Bills)
$0
Other Current Liabilities (interest-free)
$0
Total Liabilities
$30,000
Project on Childcare
Capital
Planned Investment
Owner – Anderson
$20,000
Owner – Filer
$20,000
Other
$0
Additional Investment Requirement
$0
Total Planned Investment
$40,000
Loss at Start-up (Start-up Expenses)
($3,000)
Total Capital
$37,000
Total Capital and Liabilities
$67,000
Total Funding
$70,000
Services
Safe Kids Child Care offers kid watch over ages from 3-month newborn children to 6
years of age. Hours of operation are from 6:30 A.m. to 7:30 P.m., Monday through Friday.
Project on Childcare
Company Locations and Facilities
Safe Kids Child Care will base its operations in Lynn, Massachusetts, a suburb of Boston.
The office will initially comprise of a 1,300 sq. ft. house in a tranquil, private neighborhood. The
yard will be completely fenced in, to guarantee nobody can either come in or meander away. The
yard will be outfitted with sheltered, stimulating toys, and additionally a sandbox.
The house will be utilized for stormy day exercises and the serving and planning of suppers. The
house will likewise hold toys, recreations, and books for the diversion of the kids.
Market Analysis Summary
Safe Kids Child Care is a business that has gotten to be vital in today's quick paced
world. There are an expanding measure of families who have gotten to be reliant on two wages,
which has made the need of the kid mind industry. Without a doubt, it has. There are in excess of
300 offices in the territory that give comparable administrations to Safe Kids Child Care, each of
these has a huge customer base, and a lucrative business. There is most likely there is room in the
business sector for a top notch tyke mind office.
Market Segmentation
Safe Kids Child Care has a concentrate on gathering the nearby requirement for tyke
consideration benefits inside the 10-mile span of Lynn. Kids are taken in adaptively on either a
full-time or low maintenance premise.
Full-Time Working Couples
The organization needs to create a fundamentally expansive full-time general customer
base keeping in mind the end goal to build a sound, steady income base to guarantee strength of
the business. Client relations are to a great degree critical, as it is basic to keep the folks satisfied
Project on Childcare
keeping in mind the end goal to keep their youngsters in the childcare focus.
Low maintenance Workers/ Drop-Ins
Low maintenance specialists and drop-ins involve more or less 20% of incomes. While
this business sector is not the essential center, sufficient adaptability to handle this auxiliary
business is critical to creating supplemental incomes.
Table: Market Analysis
Market Analysis
Year 1
Potential
Year 2
Year 3
Year 4
Year 5
Growth
CAGR
Customers
Local Residents
25%
100
125
156
195
244
24.98%
Drop-ins
20%
50
60
72
86
103
19.80%
Other
0%
0
0
0
0
0
0.00%
Total
23.33%
150
185
228
281
347
23.33%
Chart: Market Analysis
Project on Childcare
(Pie)
Target Market Segment Strategy
The target market for Safe Kids Child Care is full-time working couples. Referral
advertising is the key kind of showcasing technique used. Keeping up and further improving its
notoriety in the group is urgent to picking up extra piece of the overall industry of this target
market.
Market Needs
With expansion keeping on increasing consistently, it has gotten to be essential for more
families to depend on two wages to survive. Thus, this builds the interest for youngster mind
offices. We don't anticipate this pattern turning within a brief period of time, and aim to catch an
offer of this business sector.
Service Business Analysis
The tyke mind business is lucrative, as said in the recent past. Thus, there are numerous
focuses that give quality forethought to youngsters in the same range as Safe Kids. The kid mind
Project on Childcare
industry is part between extensive, financially run focuses and littler, provincially possessed
focuses. Safe Kids will contend with the little mind focuses, this is the place the principle rivalry
lies. The organization is sure that this will be a fruitful wander in light of the nature of its
directors and the capacity of its Care Staff, which is specified in more detail in the Personnel
area.
Competition and Buying Patterns
There are in excess of 300 kid mind suppliers in the neighborhood. The bigger business
chain kid consideration focuses, for example, Kindercare, have a lion's share of the piece of the
overall industry. These bigger chains contend well in light of a decent notoriety among the
customer market. Safe Kids Child Care offers a lower staff to youngster proportion, which is
speaking to generally folks. Also, the organization keeps up kid consideration expense levels that
are 5-10% underneath the normal of that of the huge business chain tyke forethought expenses.
Strategy and Implementation Summary
Safe Kids Child Care will succeed by offering its customers' kids a protected and secure
the earth, and close individual consideration. The objectives of the inside are double sided: to
help folks like the consideration of their kids, and to make it a sheltered, instructive, and fun
experience for the youngster.
Competitive Edge
Tyke mind focused edge is the office's exertions in acquiring all suitable authorizing and
affirmations. Moreover, careful pre-hire foundation screenings are performed on all people
before procured for job.
Sales Strategy
Safe Kids Child Care will make a critical benefit through the phenomenal forethought of
Project on Childcare
youngsters. Despite the fact that Safe Kids charges less, the organization will see benefit inside
the first year because of helpful verbal promoting. The organization hopes to twofold its
customer base like clockwork, for the initial year and a half.
Sales Forecast
As the accompanying table demonstrates, the organization arrangements to convey offers
of more or less $262,000 in the first year, $515,000 in the second year, and $674,000 in the third
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