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BUILD IT AND THEY MIGHT NOT COME

In this time of high demand for child care, it would be easy to assume that every center which opens will be successful. Of course, we all know that this isn't the case. Most of us know of at least one or two centers in our area that have tried to operate and failed.

A high quality feasibility study can be crucial to the long term success of an early childhood program. Market studies not only tell you whether or not a center is feasible, but what will be most feasible. A good feasibility study becomes the market-driven strategic plan and program development that is the road map for the center's development and operation.

While feasibility studies do deal with demographics, that's only one small part. A good feasibility study not only defines a project's market area and analyzes both demographics and lifestyle preferences of parents, but it also analyzes the competition, looks at child care supply and demand within that market area, studies your existing operations, evaluates site constraints, analyzes market and subsidized child care rates and projects possible attendance by age range and rates. From these, a market study crafts a detailed development program that can then be developed into an economic feasibility plan that includes a preliminary plan, cost estimate, projections of revenues and expenses, and return-on-investment.

A feasibility study is not magic, although is can have a magical effect on the success of your center and your return-on-investment. It makes the difference between decisions based on solid information and those based on wishful thinking. A feasibility study is the smartest investment you can make to insure that your center will be successful.

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