Demographic Shift Presents Opportunity for Nursery School & Day Care Owners
Although we use this space to speak mainly about risk, we suggest that not being forward thinking and taking advantage of opportunities in turn may put your business at risk as you may cede market share to your nearest competitor whose resources continue to grow while yours stagnate.
Yeah that was a classic run on sentence but the points made are still spot on. I know that in the New York City & outlying suburbs there has been tremendous growth & shift into different neighborhoods and outlying areas. What strikes me square on the little forehead wrinkles is that in many of these areas there are no great choices for daycare or pre k nursery school programs. In a NY Times article written by Soni Sangha entitled The Pre K Underground, she makes a great point that in under served areas parents are taking matters into their own hands as they develop in home schooling alternatives due to lack of availability, affordability or both.
In some areas like Harlem , neighborhoods in the Bronx and Brooklyn an amazing amount of new affordable housing units have come on line. Similar opportunities exist in New Rochelle , Mount Vernon, and White Plains, all located in Westchester County NY where much of the infrastructure hasn’t caught up with the new arriving families. For our purposes I am speaking directly to nursery school & day care owners as it relates to infrastructure.
Did I get your juices flowing? If I did here’s where you may start. I would try to nail down statistically where the most growth occurred over the last 2 to 3 years. There is an interesting site called ESRI that for a small fee you can do most of your demographic mapping to figure out what neighborhoods have had outsized growth. You can also check your county web site or State Government web site for new housing developments and projects that just came on line. Any housing development that was funded with public money probably has a blizzard of press releases surrounding the funding, groundbreaking and topping off of a particular project.
Once you have identified the high growth areas then you try and drill into the population demographic, i.e. young families, and correlate that into potential facilities that can offer programs. Find the holes and find the opportunities. Hopefully you will think of us when you need to insure those new opportunities as we have a myriad of nursery school insurance programs and options offered in New Jersey, New York, Pennsylvania , and Connecticut. Helping you put other first through competitive nursery school insurance.
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