Early childhood education is essential to a kid’s growth and for their personality formation. That is why people who are fond and have a passion for educating, nurturing and taking care of children make this their goal in their lives. Establishing this kind of advocacy and goal is outstanding, but with how large competition is in the business industry if you are buying an existing franchise, it’s better if you go somewhere that you can trust.
What are childcare brokers?
Childcare centre owners can contact and coordinate with child care brokers to find buyers, whether inside or outside of town, but maintain the deal’s confidentiality. They don’t only handle the deals and sourcing out the buyers, and they are also in charge of other aspects and paperwork to turn over the business to its new owner smoothly.
It is beneficial to both parties since they provide advice and consultation, which could greatly benefit both parties. It is important that if you are either buying or selling your childcare centre, choose a company that is accessible for you and has a good record based on their previous transactions.
What do childcare brokers do? And why can’t you do it alone?
Often when customers know that their favourite establishment would be under new management or ownership, they might think that the existing system and quality of service would change. And it would cause them to transfer and go to another establishment. The same thing goes with childcare centres. That is why owners do business deals in secret through child care brokers to avoid any turbulence and conflicts with the children and their parents. But aside from the confidentiality issue, what else can they do for buyers?
- Assure the legality and credibility of the franchise: If you are buying an existing childcare or daycare franchise, brokers do the research and background check on your behalf. They check if the location and its facilities comply with the state laws and standards, provide you with financial statements of the centre in previous years, and forecast your projected profit and expenses. This stage would really inform you about which business deals are ideal for you financially and ideally.
- Comply with state laws: Does the existing staff and teachers fit the standards mandated by the law? This mainly concerns if the insisting franchise or institution is abiding with the state laws. They also check for any existing business insurances, lawsuits either against the institution or staff. If you have any more questions and queries regarding law compliances, brokers can usually call a commercial lawyer to further enlighten you with the details.
- Feasibility of the business: Brokers usually give you options that are best fit your capital. They won’t hand you a business venture that you can’t handle. Along with the data and information that they have handed you, you get to see the daily expenses you need to shoulder and the business’ insurance coverage. Use this information to analyze and form a decision if you will invest and decide what kind of service you are willing to provide.
Altogether make you and the children’s dreams come true. Let your vision and passion with a good child’s upbringing change their future and yours.
Alison Lurie is a farmer of words in the field of creativity. She is an experienced independent content writer with a demonstrated history of working in the writing and editing industry. She is a multi-niche content chef who loves cooking new things.