Child Day Care Services Business Plan Kid'S Community College Page 10
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194.2 Target Market Segment Strategy
The target market for Kid's Community College® is full-time working couples. Referral
marketing, direct-mail campaigns and community activity days will be the primary types
of marketing strategies utilized. Maintaining and enhancing its reputation with families
and in the community will be crucial in obtaining the planned market share growth of this
target market.
4.2.1 Market Needs
With inflation continuing to rise each year, the typical American family now requires dual
or supplemental incomes. This trend has created a need for quality child care services.
We do not see this model changing in the foreseeable future. In fact, based on the
growth in the Riverview area, specifically the new Lake St. Charles and Village of Lake
St. Charles communities, we expect the need to increase.
4.2.2 Market Trends
Currently there are more family caregivers than licensed child care facilities nationwide.
However, this business model can't keep up with the needs of the growing child care
industry. In the family care giver paradigm, space is limited and quality of care is
questionable - in many cases viewed as only slightly higher quality than babysitter
services.
4.2.3 Market Growth
According to US Census 2000 data, the population growth rate for Hillsborough county
is approximately 2%, which is reflected in the market analysis summary. However, the
Riverview area of Hillsborough County is experiencing a residential construction boom,
yielding well over a 14.6% growth. This is supported by data obtained from the
Hillsborough County Building Permits office and is included in the appendix of this plan.
This suggests that more families continue to move into the Riverview area, thus
becoming potential customers.
In our market analysis, we suggest a modest 6% yearly growth in the number of
potential customers.
4.3 Service Business Analysis
Kid's Community College® is in the child care services industry, which includes several
models:
1.
Licensed Child Care Facilities: Business facilities that offer child daycare
services.
2.
Family Child Care Homes: Individuals that offer child daycare services in their
homes.
3.
Specific Interest Based Programs: Businesses that offer specialized instruction
such as gymnastics, martial arts and athletics.
4.
Church Child Care Facilities: Religious organizations that offer child daycare
services in their communities.
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