How can child care businesses increase profitability when accessible child care is a state-wide crisis?
Child care providers are stuck between a rock and a hard place. They must have accessible rates for high-quality services so their clients can afford them. At the same time, many need to increase the profitability of their child care business. Otherwise they won’t be in business.
Last year the Texas Legislature reported on the state’s child care crisis. “The shortage of affordable [high-quality] child care is not just a family issue, it is a statewide economic problem. Working parents who struggle to find quality, affordable care may arrive late, leave early, miss promotions, delay professional development, or leave the workforce altogether. [Or not be able to enter the workforce in the first place.]…Despite these high costs for parents, most child care operators don’t make a lot of money and early childhood educators earn low wages. Child care centers are operating on barely sustainable margins…”
The core problem for child care providers…
No matter how skilled and trusted you are at taking care of children, if your clients can’t afford you and if you’re not making enough profit, you can’t stay in business. This has devastating ripple effects across communities.
We need innovative solutions at the intersection of both public and private sectors, and there aren’t many easy answers. However, Economic Growth Business Incubator, in partnership with Texas Mutual, has found a gap to step into.
…But EGBI can provide part of the solution
As Austin’s #1 business accelerator for 3 years in a row (thanks, Austin Business Journal), EGBI offers an innovative workshop for childcare business owners seeking to improve profitability and strengthen their operations without compromising quality care. Aspiring and existing child care business owners will gain practical strategies and actionable insights to optimize services, enhance day-to-day operations and achieve long-term success. The next workshop is on Saturday, Oct 4th.
For any aspiring or existing child care providers, English and Spanish sessions will be offered separately but simultaneously, and lunch will be provided. Participants will receive 6 hours of continuing education towards their license. After the workshop, participants gain access to 1-on-1 business coaching –virtual or in-person– at no cost to them. These private sessions can problem solve marketing strategies and online visibility; how to reduce daycare expenses; pricing and how to increase daycare enrollment; streamlining operations, like finding software for billing and enrollment; and other strategies for how to grow a daycare business.
We need safe and affordable child care in Austin and the surrounding areas.
You’re already great at caring for your children. This day is about caring for your business.
Space is limited, so register here today!
Para español, regístrate aquí:
No-cost admission with code MUTUAL
Date: Saturday, October 4th
9am-3pm (6 hours of continuing education for your license)
Location: Workforce Solutions Capital Area
9001 N IH 35, Ste 110C, Austin, TX 78753