Home Away from Home: An Environmental Analysis of the Childcare Industry

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Home Away from Home Environmental Analysis Industry Analysis In 2008, the last year for which data is available form the Bureau of Labor Statistics, "preschool teachers, teacher assistants, and child care workers accounted for almost 78 percent of wage and salary jobs in 2008" (BLS, 2012). Clearly, the childcare industry is booming at all age levels, and education is increasingly seen as important by parents even if public schools are failing to meet their expectations. In fact, there is quantitative evidence that educational and childcare services are generally underappreciated and undervalued, which might at first seem detrimental to the proposed endeavor but in reality will assist entry into the industry and make it easier to obtain a substantial market share (BLS, 2012). With an appropriate strategy and cost control measures in place, it is quite likely that the proposed after school and weekend childcare/activity program will be quite profitable, with similar businesses operating only single classrooms earning profits upwards of eighty thousand dollars (Martinson, 2003). With the potential for multiple concurrent program offerings and reduced overhead costs, annual profit of one-hundred thousand dollars for the Home Away from Home is quite realistically within the realm of possibility (Martinson, 2003). As long as the business engages in effective marketing campaigns and in neighborhoods where there is a large enough market to sustain multiple programs at a

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