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10 Tips To Maximize Your Business's Value

Whether you plan to operate your business for years to come, sell it at some point in the future or turn it over to a family member one day, you want to be increasing its value every year.
 
What follows are 10 tips that will help you accomplish this.
 
1. Keep detailed, organized financial information. Your profit and loss statements and balance sheet should be up to date and on file for every year of operation. If you are a large center, these statements should be done on a quarterly basis.
 
2. Know your operating ratios. You need to know what percentage of revenues are going for salaries, wages, costs of supplies, rent or mortgage payments. Your operationg ratios should be within the industry averages for centers of similar size to yours.
 
3. Often, labor costs are one of the chief financial problems of a child care business. The general rule is these costs should comprise 45% to 50% of gross revenue.
 
4. Your Policies and Procedures Manual should be inclusive, well written and up to date.

Buy gently used computers

save up to 60% by buying used computer equipment. Check your Yellow Pages and local newspaper classified adds for resellers. Craigs List is also another excellent source of used equipment, www.craigslist.com.

For more information call Block Insurance 800-225-0863.

Did you know that many banks are offering the option to scan client’s checks and make your deposit from your location? Aside from the convenience this service offers, you get the benefit of quick turnaround on the checks you receive. This improves your cash flow and helps to minimize bad check problems.

Call Block Insurance 800-225-0863.

You Never Know When It Might Help To Have A Reporter As A Friend

Use the media to your benefit! Send press releases to the local media every month if possible but at least once a quarter. You can send press releases regarding VPK graduation, the fire department’s educational visit to your school, your employee’s completion of the CDA requirements… anything that is positive about your school and teachers.

You will receive three benefits. First, your school will get free publicity. Second, the local media will view you as an expert and bring their questions to you. Third, and perhaps most importantly, you will have an established relationship with the press if there is ever an incident in your school. This relationship will allow you to begin the process with some credibility.

Are You Managing Your Risk? Get A Quote

Please be advised that information contained in this site may be dated. No insurance coverage can be bound, deleted, modified or in any other manner effected through this website. Complete information regarding coverage and exclusions can be found in policy documents. The information contained in this website is summary in nature.