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Understanding the overall performance, especially the financial health of your childcare business, is crucial for providing continuous, quality care to your families. However, many ECE providers are unaware of how best to measure and track this data or even how to get started in order to improve.
At Kangarootime, we’re focused on being your partner in early education. That’s why we’re introducing the concept and approach of Center Economics to help you understand how to get started and improve the profitability and financial viability of your center. In this article, we’ll explain more about Center Economics, why it’s important, and provide tools and resources to help you get started.
What is Center Economics?
Center Economics is an approach to measuring and understanding the key success measures regarding the financial viability of your center(s). With this approach, you can begin to understand the areas of opportunities to invest, what levers are available for you to use to get back on track if necessary, and ultimately improve the overall performance of your operation. As we continue to explore this topic, we’ll dive into content around:
- Revenue
- Costs
- Budget Setting
- Forecasting
- Reporting
- Profitability
- And more!
Why Focus on Center Economics?
Center Economics should be top of mind for childcare providers as it ensures they can continue their current operations with the opportunity to grow and expand their schools. A financially healthy center provides more flexibility and will allow for high-quality staff, increased enrollment, more facilities, and improved quality of care.
Tools and Resources
Take a look at some of our current resources that will help improve your center’s financial viability.
- Webinar 10/4/22: Moving the Needle Forward: Advancing Your Center’s Economics and Its People with Scott Wayman and Tony D’Agostino
- How to Track KPIs at Your Childcare Center
- Understanding and Increasing Cashflow at Your Center
- Building a Better Budget for Your Center
Stay Connected
Want to be informed about new articles, webinars, and resources pertaining to Center Economics and everything Early Childhood Education?
Kangarootime is the leading all-in-one childcare management software for daycares and preschools. With billing and invoicing capabilities, parent communication and staff management tools, and classroom automation, Kangarootime helps childcare centers grow and scale. To learn more about optimizing your center with Kangarootime, visit kangarootime.com
