Research your market to gain understanding and knowledge of the market place.
Market research shows gaps in the market that your new childcare business could fill.
Analyse the competition
You can find a list of established childcare businesses in Brighton & Hove.
You can use this list to research things like:
- opening hours
- the age groups they cater for
- their services and activities
- their facilities, for example an outdoor play area
- their fees
- the meals and snacks they offer
- whether they offer both full and part-time places
- if they are flexible over dropping off and collection times if parents need it
- do they offer local authority funded places for two, three and four year olds
Establish what your customers want
Talk to as many parents as possible and find out:
- what they would like a new childcare business to provide - discuss opening hours, flexibility and activities
- if there are any gaps in existing childcare that you could fill - like after school clubs
- whether they are satisfied with current childcare options in the area, and if not what specifically they're unhappy with
- what they consider is a reasonable fee to charge for the service they want
Look at demand in the the city
Look at the type of people who live and work in the area where you want to open your new childcare business.
For example:
- are there families with pre-school or school age children
- do both parents work
- are there single parent families that would like to work if they could find affordable childcare
- are there a lot of businesses
- are you on a main route to getting in and out of the city
- is there a hospital or large supermarket close by - parents may work unsociable hours and require childcare late at night or early in the morning