Late tuition payments can cause your cash flow to stutter. They also take time to administer. You and your staff must take the time to ensure all payments have been made and remind parents who have not caught up on their bill.
You loved caring for children, so you built a business around it. But it isn't enough to just love caring for kids; you are running a business that requires care, too, so it can grow to provide services to more parents and their families.
In 2011, a survey by Edutopia.org found that an online parent portal was the second most desired ways parents wanted to receive news from their children’s school. At the time, nearly half logged in once or twice a week while another quarter of the parents surveyed checked in three to five times per week.
Meal tracking is an essential part of childcare management, particularly if your facility participates in government reduced lunch programs or other subsidized programs. The federal government leaves it to the states to administer federal programs, which simplifies filing for you but still makes you responsible for keeping track of all meals served to your kids.
Every morning and every afternoon the great parent stampede occurs. In the morning, parents line up to sign in their children so they can rush off to work. In the afternoon, they line up to sign out their children so they can rush home to fix dinner.
The owner of a childcare management facility wears many hats, just like any other small business owner. The accountant hat may be one of the most time-consuming and least liked of them all. However, using a software solution that combines all the required applications for invoicing and billing, accounts receivable, accounts payable, payroll, and general ledger can streamline your bookkeeping process while reducing errors.
When you care for children, a safe environment is critical. No childcare professional wants to tell a parent a little one has been injured or become ill because of something at the facility. Improving safety in your daycare is an ongoing activity that reassures parents you are taking your responsibility seriously and is high on a family’s list of “must-haves” for an appropriate care situation.
The key to a good relationship is good communication and the most important relationship you will have in your childcare center, outside of the one you have with the children, is the one you have with their parents.
One of the most difficult challenges in running any business is managing the employees. Turnover in the childcare industry is one of the highest across all business segments and is an ongoing problem for childcare services.
According to a report by the Afterschool Alliance, there were 10.2 million attending after school programs in 2014. Such programs have shown to result in significantly higher test scores, improved day school attendance, and reduce criminal activity within the community.