Opening a Childcare Franchise in 10 Steps

February 15, 2016

Are you interested in becoming a Tiny Hoppers franchisee? We currently have franchise locations in the Greater Toronto Area, Ottawa, Kingston, and Hamilton, and recently added our first international daycare location in Saudi Arabia, opening March 1, 2016. Tiny Hoppers is looking to expand in BC, Alberta, Ontario, Quebec, and the Maritimes and also open to international expansion. So what does opening a childcare franchise entail? Check out the ten main steps:

Step 1: Evaluate Your Wants/Needs/Goals

As you embark on the journey, think about what you hope to achieve. Are you cut out to be a daycare franchisee? Are you passionate about helping children? Can you handle running a business? Can you secure the capital needed to open a franchise? What makes this the best career path for you compared with other options?

Step 2: Do Your Research

Learn everything you can about the business beforehand. Read articles, ask online, and review all the materials on Tiny Hoppers. It’s your job to amass all the information possible.

Step 3: Fill Out the Questionnaire

At Tiny Hoppers, we have a Confidential Franchisee Questionnaire which helps us get a good sense of your suitability for this role.

Step 4: Talk to Other Franchisees

There is no better way to learn about the day-to-day operations of running a childcare franchise than to visit another franchise and talk with the franchisee. Would they recommend joining this company? What did they learn? What were they surprised to experience?

Step 5: Find a Location

A franchise is only an idea until you have a location for it. Scout possible locations in your city until you find the right one for your needs. The minimum total centre area is approximately 3,000 square feet. Remember that you may need to outfit the location to suit a daycare, which will take additional funds.

Step 6: Secure Funding

A typical daycare location will take $250,000 to $350,000 to get off the ground. This includes the initial franchise fee, construction costs, buying furniture, equipment, and supplies, and playground construction. We require franchise candidates to invest at least $75,000 unencumbered personal funds, in addition to funds financed through a lender.

Step 7: Sign the Franchise Agreement

This step is pretty straightforward. Review the contract with your lawyer and if all is well sign your name on the dotted line.

Step 8: Secure Your Permits and Insurance

Get all of the paperwork in order with the city and make sure everything is ready to go.

Step 9: Hire and Train Staff

With the right staff, your daycare centre will succeed.

Step 10: Open Your Franchise!

Finally, it’s time to cut the red ribbon and open your very own Tiny Hoppers franchise. Remember, we’re here to help and provide support at every step of the way!

 

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