Childcare is a $57 Billion Industry and is growing every year!
8.6 million children in the U.S. have two working parents (Child Care Aware of America, 2018), and the demand for high-quality preschools and childcare is increasing;
Children’s daycare services made a total of $47.8 billion in revenue in 2016 and are projected to earn $52.5 billion by 2021 (Diment, 2016);
Although nearly 15 million children under the age of six require childcare (Child Care Aware of America, 2018), which is consistent with previous years, indicators show the demand for preschools and childcare will increase.
Investing in education also gives you the opportunity to make a positive difference in children’s lives while providing for your family and yourself.
In addition, the steadily increasing labor force participation rate of women creates new demand.
In 2011, the U.S. Census Bureau found that preschoolers with employed moms are more likely to be in care (88%) vs. preschoolers of non-employed moms (28%), and that 63% of children under five with working mothers are in some form of regular daycare.
Running a preschool can be a very rewarding and profitable venture. An entrepreneur who is interested in children’s education and also in having a business might find that opening a preschool would meet both desires.
Child Care Aware of America. (2018). Child Care in America: 2018 State Fact Sheets. Retrieved from http://usa.childcareaware.org/advocacy-public-policy/resources/reports-and-research/statefactsheets/
Diment, D. (2016). IBISWorld Industry Report 62441: Daycare in the US. IBISWorld.