How the Economy has Affected Daycare and Childcare Businesses
Friday, March 19th, 2010Owners of daycare centers, family daycares, and preschools are feeling the effects of our declining economy. While every childcare business is different news articles state that daycare enrollment rates have decreased as unemployment increases. This causes childcare center owners to lay off staff or cut staff hours and reduce services.
OwnADaycare asked childcare center owners and daycare business owners about how the economy affects daycare businesses to shed some light on the reality of the situation. Responses varied:
“The primary effect of a declining economy on child care providers is declining enrollment. Child care providers who were once full, and in some cases with a waiting list, now have to spend additional time and energy marketing their schools to maintain enrollment. Additionally, controlling costs without sacrificing high-quality programs and faculty is vital to remaining profitable. Schools should ensure that they remain involved in their communities and look for innovative ways to be the first preschool thought of by local parents,” says Joseph Schumacher, CEO of Goddard Systems, Inc.
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