Preschools have become a budding business in India that has seen massive growth in the past couple of decades. In almost every nook and corner in India, a preschool can be effortlessly spotted. Time and again playschools have proven themselves to be a pretty lucrative business to invest in. Though preschools yield an enormously impressive income, it is also important to note that many preschools over time have failed to meet several ethical criteria. The criteria to start a playschool franchise
in advanced cities shall always vary when compared to the minor cities.
Given below are some of the criteria that one needs to delve into before establishing a playschool with the best playschool franchise.
- Business Plans:
If one plans to start a playschool, it is recommended that a business plan must be thoroughly prepared. The business plan for a preschool should comprise of all of the following details:
- The number of children the playschool wants to cater to.
- What sort of mode of business does the playschool want to coincide with. The options range from a daycare to preschool to play school with after the school activities and so on.
- The number of teaching staffs, admin and support that need to be allotted.
- The essential funds required for all other essential stuff like maintenance, transportation and so on.
- The selection of location and the availability of desired space for the needed infrastructure.
- Registrations & Licenses
State governments have enacted laws like the “Private School Education Acts”, which shall completely regulate the operations of a school. Therefore, before ensuring a plan of beginning a playschool, it is necessary to know about the State Education Act in detail. This shall help massively in obtaining the relevant registrations. Preschools can be set up for both profit or not-for-profit enterprises. If the expounder wishes to operate the playschool as a for-profit enterprise, then it is recommended to incorporate a private limited company into its name.
- Acquiring the required loan for starting playschool:
Arranging for funds to invest in the playschool business is often a matter of deep concern and is pretty crucial. Depending on how big or small the playschool and the amount of infrastructure it demands, there needs to be an availability of the correct amount of funds. Banks are favourable for lending to establish a playschool. There is a varied range of banks like the Bharatiya Mahila Bank operating a special scheme that helps collect funds for the Day Care Centers. These banks can typically provide loans.
Banks generally are the first spot to fish for funds as they provide loans for all the essential items ranging from buildings, interiors, furniture, equipment and so on. It is also to be kept in mind that banks cannot further fund operational expenditure such as staff salary, maintenance, rental, utility bill etc. Therefore, it is important that the people involved in the monetary functioning of the bank draw out a cash flow statement at least once a year and syndicate bank loans in the pretext of the investment in long-term assets like building, furniture, etc.
- Choosing the Right Location & Infrastructure
The business has always been about the perfect location where it can be accessible to the targeted set of audience. This stays the same with the playschools. It is very important in looking out for the right location and adequate space to set up the playschool business.
The preferable location should be in a child-friendly area and space which can allow the adequate area to set up infrastructure accordingly. Also for any sort of school, cleanliness and hygiene are very important. So it is of high importance that the selected location is well maintained and does not possess any health risk.