It takes heart to run a daycare! It also takes a solid budget. Between paying your staff, buying supplies, and keeping the lights on (literally), it’s easy for the numbers to add up quickly.
At Ducklings Early Learning Center, we get it. A well-planned budget and the right support can keep your daycare running smoothly. That’s why we’re sharing some of our favorite tips our franchisees use to balance their daycare center budgets while providing top-quality care.
1. Develop a Comprehensive Budget Plan
Okay, so budgeting doesn’t sound particularly exciting. But a well-managed budget is the backbone of any successful business. If you’re not tracking where your money is going, little costs can start to pile up fast.
To make sure you’re developing a comprehensive budget, start by listing every daycare expense. From rent and staff wages to snacks and cleaning supplies, every cost counts! The more detailed your list, the easier it will be to spot places to save. Don’t overlook seasonal supplies or playground maintenance — those unexpected costs can add up fast.
The good news? When you’re part of a franchise, you don’t have to figure it out all on your own. We’ve been running Ducklings Early Learning Centers for over 30 years, so we’ve already done a lot of the math for you. Plus, you’ll have access to a network of fellow franchisees ready to share their experiences about managing their daycare center budget.
2. Monitor Expenses Regularly
Keeping tabs on your expenses is essential. Don’t wait until tax season to realize you spent way too much on paper towels. Set a reminder each month to review what you’re spending and where you might be able to cut back.
If you notice your electrical bills are high, consider swapping out old fixtures for energy-efficient bulbs in your daycare center. If you’re spending a fortune on printed marketing materials, consider switching to digital formats for things like newsletters and enrollment forms. Even small changes like that can add up faster than you think. As a franchisee, you’ll gain access to proprietary technology platforms and digital marketing assets that can help maximize your profits.
3. Optimize Staffing Costs Without Sacrificing Quality
Staffing will be one of your biggest daycare expenses, and it should be! You need great employees to provide top-quality care for the little ones at your childcare center. So how do you manage labor costs without sacrificing quality?
Consider cross-training your team, so they can step in where needed. Having team members who can tackle a variety of challenges makes scheduling easier and keeps your ratios where they need to be.
When it comes to staffing, we support franchisees in finding the right team members and putting them in the right places — so you can get all your ducks in a row without breaking the bank.
4. Leverage Technology to Improve Efficiency
Is your daycare still managing processes like enrollment, billing, and payroll by hand? While a system upgrade might seem like an unnecessary expense, the right technology can pay for itself pretty quickly.
Online tools for parent communication help keep everyone in the loop, and the right business management software can make recordkeeping a breeze. At Ducklings, we’ve already done the hard work of hunting down all the best tools in the industry for you. Our franchise partners also benefit from proprietary technology platforms that help streamline everything from parent communication to payroll management.
5. Implement Cost-Effective Marketing Strategies
You don’t necessarily need a massive ad budget to fill your classrooms. Some of the best marketing only costs you the time you’ll spend getting more involved with your community.
Social media is your friend! Post updates, share photos (with parent permission), and don’t be afraid to show off what makes your daycare special. Word of mouth is powerful, too. Focus on creating positive experiences for families already attending your daycare center. You’ll be surprised how quickly happy moms and dads can spread the word about your services!
As a franchise partner, you have a head start. Your business will benefit from a recognizable brand name that is already trusted in early academic circles. We also offer our franchisees comprehensive, ongoing marketing support, so you can focus less on optimizing campaigns and more on running the daycare center of your dreams.
6. Plan for Financial Contingencies
Things break. Kids get sick. Permit requirements change. If you don’t have a little cushion set aside for those moments, you’re setting yourself up for extra stress.
Planning ahead is crucial. That’s why we always provide franchisees with an investment estimate range that includes everything from real estate and construction costs to your Grand Opening marketing budget. While we can’t predict every curveball, our expert guidance will help you create a contingency plan so you’re not left scrambling when something unexpected happens.
Make Smart Financial Choices for Your Daycare
Managing a daycare budget isn’t easy, but with a solid plan and the right support, you can keep your center running smoothly.
With Ducklings Early Learning Center, you’ll get access to proven systems, financial tools, and expert guidance that can help your business grow without having to go it alone. We’re here to help you build something amazing — for yourself, your staff, and the families you serve.Interested in joining the Ducklings family? Connect with our team to learn how our proven systems and expert support can help you build a thriving daycare business.