Daycare Statistics

If you are planning to put up a daycare center in the near future then you have to be familiar with daycare statistics. Before diving into such complex topic, one should understand the importance of statistics first. Statistics and probability go hand in hand.

When you talk about statistics, you are referring to a state in reality. You are referring to gathered data and its analysis. When connected to probability, statistics will be the hard evidence that you will use in order to predict an outcome.

Probability is all about predicting an outcome. When you understand statistics and probability then you will be able to use it for daycare.

How can statistics and probability be used in a daycare business? If you look at a simple example then you might be able to grasp the importance.

For example, statistics show that eighty percent of adult parents send their children to daycare from ages one to four.

In a state that has a population of one million residents over eighteen, what is the market?

If you are putting up a daycare business in that area, will it be a good idea or a bad idea?

• Assuming that for every other household, there is one child that is between the age of one and four, what is the market?
• You have to multiply the total population over eighteen by the percentage of adult parents that send their children to daycare and divide it by two.
• What is the number?

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If you put up a daycare center in this area, you will be able to get access to four hundred thousand children!

This is a very good market considering your daycare business. All you have to do is get ten percent of one percent of this market and you have four hundred children in your daycare center already!

If you charge five hundred dollars per head every month then you will have revenues of two hundred thousand dollars a month.

You have to put up a very big daycare facility to accommodate this huge number of children but the money will definitely be worth it.

The aforementioned example is also applicable to real life assuming the correct numbers are input from reliable sources. If you want to locate in an area with a lot of potential then you have to take your probability and statistics lessons very seriously. One wrong move and you might end up in a place with fifty children and five competitors. You certainly do not want this to happen to you, right?

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