Table of Contents
Objective
Mr. and Mrs. O Powell plan to invest $900,000 of their own funds, with $100,000 from their children, to start three 24-hr childcare centers. They are seeking additional funds from a bank loan, in the amount of $1,000,000, to be repaid in five years.
Executive Summary
As a first responder 911-dispatch supervisor, Mrs. Powell has had first hand experience of the family concerns that may interrupt work. As a first responder, Mrs. Powell has seen how being mandated to work additional hours, while struggling to find care for your child, can take a toll on parents. There is a frustrating moment, when a call is received for one’s child, for just a bruise or cut, and to have to have to leave work to pick up one’s child, as the facility will not keep the child in that state.
Caring for your child can eat up your sick leave hours, and cause contention with your employers, due to your absences. Worrying about how you are going to care for your child, can wreak havoc on your emotions. This caused a lot of employees to terminate their employment, as they could not deal with the realities of trying to care for their child, while working as a first responder. Powell Childcare Solutions has the potential to tap into an unutilized market, and provide care like none other.
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Mission
Vision Statement
To be the best available premium, quality childcare center in Broward County.
Mission Statement
The mission of Powell’s Childcare Solutions is to provide premium childcare services, at any hour of the day, any day of the weeks, any time of the year. To be the village you need to help you with your child, so that you can provide for your family, without interruptions from work.
Keys to Success
The owners of Powell’s Childcare Solutions, understands that working hours vary from industry to industry. Not every job opening out there is a 9am-5pm, Monday-Friday, weekends and holidays off job. Powell’s Childcare Solutions will be the number one choice for first responders, and will be a beacon of hope, for those parents/guardians, who would like the option of working in those jobs, or any job that require hours outside of 9am-5pm.
- Accepting from infants three months old through to 15 years old, with programs designed for teenagers 13-18 years old.
- Entertainment rooms and areas, with a large playfield, so that your child can have fun, while building lasting friendships.
- Being available 24 hours a day, 7 days a week, 365/366 days a year.
- The best, qualified individuals, providing quality care to your child.
- Bedrooms that have twin sized single beds and bunk beds, so that your child feels the comforts of home.
- Preschool classes for students ages 1½ to 5
- Programs that provide on-site tutors, to assist your child with their homework.
- Music programs to teach piano, guitar, violin, cello, flute, and drums.
- Board-certified nurses on staff, and a doctor on call, to provide basic first aid up to moderate care for children that may ill.
- State of the art security and fire alarms systems, with round the clock security personnel on site, to keep your little ones safe.
- All facilities are licensed and insured.
Company Summary
Powell Childcare Solution feels that a childcare facility to serve first responders, and those who work odd shift hours, will be the answer to a lot of worried parents, who wish to provide for their family, but have difficulty finding someone to care for their child while they work. Powell Childcare Solution is the answer to every parent’s prayers, when situations do not go as planned, and they have to rush to find someone, or somewhere, to bring their child, Powell Childcare Solutions’ is always available. Not every job provides their employees with personal leave time, and this can place an added stress on parents, when they have to call in sick to work, in order to care for their child. There is no time like the present. The population has not decreased, but is increasing. More and more parents will require assistance for the caring of their child, and Powell Childcare Solutions will be right there to help.
Company Ownership
Powell’s Childcare Solutions will be a limited liability corporation, headed by Mr. Oscar Powell and his wife Mrs. Dee Powell. Mr. and Mrs. Oscar Powell will own a 90% share of the business, with their contribution of $900,000, with their four children Arthur, William, Alexandra, and Melissa evenly owning the last 10%, each contributing $25,000.
Company Locations and Facilities
Powell Childcare Solutions will be in three centralized locations in Broward County. The initial facility will be within a five-mile radius, in all directions, of our targeted consumers, in the cities of Coconut Creek, Sunrise, and Pembroke Pines. These facilities will be near police departments, fire departments, 911-dispatch centers, detention facilities, and hospitals. All facilities will be built to stand strong, to withstand a category five hurricane magnitude. Within the next five years, Powell Childcare Solutions will expand into three more cities in Broward County, making more availability for those in the neighboring counties.
Competitive Comparison
Powell Childcare Solutions will be the only fully staffed, 24-hr childcare facility in all of the state. This will be a superior advantage to all other childcare facility. This will become more profitable, as more and more as marketing exposure for Powell Childcare Solutions, become widespread. For those who would like to work at specified jobs that have hours outside of normal business hours, knowing that there is a reliable and dependable childcare solution, they may open themselves up to a new venture.
Services
Powell Childcare Solutions is a complete childcare service facility. From infants to teenagers, Powell Childcare solution will provide all the cares of home, so that you don’t have to worry while you work.
Some of the service we will provide for your child include, but not limited to: feeding your child, changing diapers, bathing your child, making sure they don’t remain in dirty, soiled clothing, combing your child’s hair, helping your child with homework, teaching them how to play musical instruments, supervising your child during playtime activities, preparing your child for bedtime.
If your child becomes ill with minor illnesses, such as the common cold, flu, and fever, rest assured that we have a Board Certified Physician Assistant (PA), Registered Nurse (RN), and Licensed Nurse Practitioner (LPN) on staff, to assist with the medical care of your child. The Physician Assistant reports to an on call physician, who visits the facility frequently.
Powell Childcare Solutions has secured government grants and funding, to assist first responders in paying for their childcare. Once the registration is completed and all forms processed, parents/guardians will be informed of the amount of funding that will be put towards the package that is chosen for their child. Depending on your family size and income, first responders may receive anywhere from 10%-50% off the costs, once approved.
Market Analysis Summary
It is estimated, that more than 11 million children younger than age five are in some form of childcare in the United States. (‘US and the High Cost of Child Care: 2018,’ 2018) As families expand, this number will increase. The average number of persons per household 2.53 has held to be roughly the same, for the past six years. (US Census Bureau, 2018) This means that every household may have at least one child, for a two-parent home, and at least two, for a single-parent home. There seems to be a lot of learning centers and childcare centers popping up everywhere, but all have approximately the same hours of operation. At this time, there does not seem to be anyone brave enough to pull off a facility providing the services and hours that Powell Childcare Solutions will do.
Market Segmentation
Two main types of childcare make up the child day care services industry: center-based care and family childcare. Formal child day care centers include part and full day preschools, childcare centers, school and community based pre-kindergartens and Head Start and Early Head Start centers. Family childcare providers care for children in their home for a fee and are the majority of self-employed workers in this industry. This does not include persons who provide unpaid care in their homes for the children of relatives or friends or occasional babysitters. Also, childcare workers who work in the child’s home, such as nannies, are included primarily in the private household industry, not this industry. (‘Child Day Care Services Industry: Career, Outlook and Education Information,’ 2019)
Powell Childcare Solutions will be a part of the center-based care in the Childcare Industry. It will fit in with a geo-demographic segmentation. Our major market is based on being placed in locations near first responders’ place of employment, with a focus on family size. With the kind of service being provided at Powell Childcare Solutions, there is an estimated growth rate of approximately 2% each month, once majority of the targeted consumers are informed of the services being offered.
Market Needs
Powell Childcare Solutions is certain that the targeted consumers are looking for a family oriented operation, which will provide care for a child, just as the parent would. They are looking for supreme care, which is close to where they need to be, with affordable costs, while not lacking in grace and a compassionate heart. The number of births in the US has remained in the same average within the last decade or more, and as such, there will be a need for childcare centers, for working parents to be able to obtain quality care for their children. (‘Births in the U.S. 1990-2017 | Statistic,’ 2019)
Website Marketing Strategy
As some of the programs being offered at Powell Childcare Solution will be offered with grants and other assistance from the State, there will be a widespread Internet presence, advertising the services provided by Powell Childcare Solutions. Powell Childcare Solutions will have their own website, with all the products and services offered. Local municipalities on their websites, displaying information regarding discounts for first responders, will also advertise Powell Childcare Solutions’ services.
SWOT Analysis
Strengths
Powell Childcare Solutions strengths will be our operating hours, programs offered, and nursing staff. No other childcare facility provides what Powell Childcare Solutions has to offer. Having a package deal that offers the services collectively for what is needed, that other companies offer selectively and separately.
Weaknesses
Maintaining qualified individuals willing to work overnight hours.
Opportunities
The ability for persons wanting to work an overnight job, being able to do so. The flexibility for all parents to be able to pursue any kind of job, without worrying about the hours of said job, thus providing more opportunities for expansion, once capacity has been achieved.
Threats
With any new business, there are always risks. For start up and for expansions, there will be a requirement to secure funding, which must be paid back on specific terms. Making sure that enrollment can cover the overhead expenses, while making a profit. There is also the threat of others catching on and starting to provide the same services that Powell Childcare Solutions will be providing.
