When I started my business brokerage career in 1995, it was common to find that the business owner was not reporting all business revenues. In addition, they were also running lots of personal expenses (cars, house payment, country club membership, personal food, etc.) through their business. This, of course, was done to lessen the federal…
Childcare business owners often need clarification regarding the difference between Succession Planning and Exit Planning. And which one should they be doing? To add to the confusion, succession, and exit planning are often used interchangeably. But they technically mean different things. Succession Planning focuses on planning and preparing to hand the business over to a…
For many childcare owners, 2022 has been another year of high stress, labor shortages, and frustration. How will 2023 be different? In most states, childcare business owners will continue to receive Stabilization Grants for all or part of 2023. The goal of the stabilization grants is to make individual childcare businesses and the industry as…
No child care business owner wants to consider or discuss the likelihood of a recession. However, good and bad economic times are part of normal economic cycles. Not counting the steep but very brief economic downturn during the COVID pandemic, the last recession in the U.S. was from December 2007 to June 2009 – often…
Like most businesses, the end of the year is a busy time for childcare business owners. Before the rush of the holidays begins, it is important to take stock – reviewing, analyzing, and planning for the new year—five suggestions to consider. In-depth review of business financials. It is important to review your childcare financial information…
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