Managing finances is a key activity in running every business, more so an early childhood education business. These institutions’ success hinge on the institution’s management and stakeholders’ fiscal discipline. Avoiding bad financial habits is a daily routine. Early childhood education businesses play an important role in helping young learners on the path of literacy and higher education. Despite the vital role they …
If you want to maximize profit in your daycare business, you will need to know the Full-Time Equivalency for students in your program. Full-Time Equivalency (FTE) is a useful tool for determining whether your daycare program is making the most of your limited schedule capacity to gain as many “full-time equivalent” students as possible. Simply put, the higher your Full-Time …
The childcare industry has no doubt been one of the hardest hit sectors of the nation’s economy throughout the COVID-19 pandemic. The Child Care Is Essential Act passed by the House on July 29th, 2020 now awaits Senate approval in an effort to mitigate the effects of reduced enrollment and substantial loss of revenue faced by childcare providers across the …
Implementing and using the right software systems has the potential to improve many aspects of school administration. Imagine efficient processes and coordinated communications, automated administrative tasks and scheduled compliance checks. The key is finding the right system for your school’s needs. Follow the guidance below for help in figuring out how to choose school administration software that will work for …
Your childcare center faces some unique staffing pressures. Many states now mandate lower staff to child ratios as a condition of operating during the COVID-19 public health emergency, and all childcare organizations should follow more robust health and safety measures. Staff might require unexpected leaves to care for themselves or family. In other words, you probably need to hire workers …
Childcare centers are an integral part of our country’s economy. With them, parents are able to go to work or attend school classes. In fact, childcare centers provide an important service for essential workers to be able to help others during this time. Whether it’s those who work in the health field or those who work with food, gasoline, or …
Balancing Profitability and Affordable Service Deciding how to structure the prices for your daycare business may be one of the most important—and difficult—decisions you make as a business owner. You will need to consider various factors when determining what to charge for your daycare service, including what your competitors charge, how much parents in your area can afford to pay, …
The Paycheck Protection Program (PPP) was created by the CARES Act and is implemented by the Small Business Administration with support from the Department of the Treasury. It is there for borrowers to use for specific expenses with funds to pay up to 8 weeks. It allows businesses resources for things like applicable overhead, payroll, rent, mortgage interest, utilities, and rehiring of …