Is that Daycare a business or a temporary side-hustle!
The Daycare business has really caught on in Kenya judging by the number of people who (want to) set up. But what is the motive? what drives people into the daycare business? Is the objective to run it as a serious business or a side hustle?
Evidently, the need for daycare services is ever there and its always a relief to see a new daycare come up where the need outweighs availability. However, the availability of daycare does not always reflect a presence of need and that begs the question of intention to set up.
When a new daycare comes up, the kind of set up and quality of service offered sets the pace for the rest of its operational years. There are things that set daycares apart and some are pretty obvious while others aren’t. All the same as a parent you should be able to tell whether a daycare is serious about their business or not – there is a difference between hungry and starving!
How do you identify the difference!
Side hustle daycares can collapse any time and their owners almost always do not put in 100%.
some are not licensed
possible high employee turnover
clients undercharged to take in one and all
they are not aware of the competition
no market analysis
unfocused on growth
they lack a competitive edge
there’s no business plan
untrained or unprofessional staff
On the other hand, the hungry ones are more realistic and they are in it for the foreseeable future
licensed and safety measures considered
determine reasonable pricing and stick to it with no compromise
professionally managed facility
there’s consistency in habits and reporting to parents
concrete business plan with regular reviews of business performance
focus on satisfying customer needs
Daycare needs might change overtime and a good daycare should be able to keep up, identify market change and adjust accordingly.