Analysis Of Rath Inc, A Family Run Home Daycare Center
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Rath Inc, is a family run in-home daycare center. This business emerged from the passion embody by our family and the need of friends and neighbors for a facility wherein they can have their children after school; that will cater to their education needs (assistance with school works, etc). Being an avid lover of kids and impacting knowledge freely to others, thought it expedient to operate a after-school daycare business. This venture was birth after considerable studies and interviews with people in this business. Studies revealed that there are people in the community desperately in need of help with their kids, especially with tutoring and extended pick up timeframe.
The business will focus on parents’ willingness to…show more content… Moreover, our price will be competitive and services will be of high quality.
Research revealed that the two Daycare Centers in our vicinity charge approximately $175 a week. While the in-school before and after school care charges $118 per week. However, their pick-up time range between 5:30pm and 6:30pm, whilst ours 8:00pm. The extended time and competitive weekly price of $120 per child make us more competitive. According to US Census Bureau, there are 2,564 elementary school kids (grades 1- 8) in the Montclair community. Moreover, the median household income in this area is $119,105 (2010-2014 American Community Survey 5-Year Estimates). This is a clear manifestation that parents of this community have the financial propensity to shoulder the cost associated with this program. Marketing Strategy & Summary
Rath Inc will utilize the information/data gathered in formulating a strategic marketing plan. This entails who is served on the need basis, the cost of service that attracts customers as well as the capacity of the facility.
Target Market Forecast
Potential Customers Growth 2017 2018 2019 2020 2021
Single Parents 20% 8 10 12 14 15
Two working Parents 20% 5 6 7 8 10
Total 20% 13 16 19 22 25
Market Trends & Economic Growth
Child care market is highly in demand especially for single mothers/parents, whether full or part-time workers. According to the U.S. Department of Labor, obtaining