When looking to start a daycare or even when you are already running a program don’t feel that you must conform to what everyone around you is doing.
It is all too easy to allow yourself to be boxed in by “the norm” of what everyone else around you is doing. I see it all the time when people and recently received an email that all too clearly shows the issue. The email was along the line of “I live in this area and the standard published rates are ____ so I can only charge this.” You have probably said something like that yourself at least once.
But it is not true. Look at Starbucks, the rule when they opened was a cup of coffee was less than a dollar, yet they came in and charged well above that. And they are doing it in neighborhoods across the economic spectrum. So how do they do it? More importantly how can you take this and apply it to your daycare setup?
Now before I go to much further here I want you to know I have worked with daycare across the country who have made this work and who have been able to charge higher rates than everyone around them. And they are able to do this, and stay full making more money. Now I have to warn you, your first instinct will be to say “my customers are different”, but before you dismiss this look around at all the things this applies to.
So are you ready for the secret?
Here it is -Less than 20% of people buy only on price when given other reasons why they should pick your daycare. If you are only about the price you will always have a battle and will never be able to charge more than the normal cost around you. In fact, you might no be able to even charge that, because there is always someone willing to charge less.
So to charge more than average for daycare in your area you must give parents a reason why you are different, what you offer others don’t. It is really that simple, you need to be able to explain why your daycare offers a better value than your competition.
If you are looking into how to start a successful daycare one of the first places to start is by looking at what you can offer beyond what everyone else around you is. It could be hour, cultural food, daycare facility, your background and knowledge. The list goes on and on.
Take the couple of minutes and find what you have to offer so you can stay away from the “norm” in daycare