Preschools have become a budding business in India that has seen massive growth in the past couple of decades. A preschool can be effortlessly spotted in almost every nook and corner in India. 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 have failed to meet several ethical criteria over time. The criteria to start a playschool franchise in advanced cities shall always vary when compared to minor cities.
Below are some of the criteria 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 staff, admin, and support that need to be allotted.
- The essential funds are required for all other essentials like maintenance, transportation, etc.
- 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, it is necessary to know about the State Education Act in detail before ensuring a plan for beginning a playschool. This shall help massively in obtaining the relevant registrations. Preschools can be set up for both profit and 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 is and the amount of infrastructure it demands, there needs to be an availability of the correct amount of funds. Banks are favorable 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 expenditures 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 under the pretext of the investment in long-term assets like buildings, 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 to look 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, allowing the adequate area to set up infrastructure accordingly. Also, cleanliness and hygiene are very important for any sort of school. So it is of high importance that the selected location is well maintained and does not pose any health risk.