Child minders Essay Example for Free

Child minders Essay My competitors are likely to be; Child minders offering full day service provide the main source of competition, with over 70,000 registered in the UK today. Many parents are attracted by the individual care a child minder is often able to give their child and the service is regarded as cheaper and more flexible than the day nursery. Family members remain the most popular choice for childcare, with well over half working parents opting for this informal option, largely because they cannot afford other care, or they cannot find a suitable service. Playgroups and cri ches offering occasional or seasonal care are both popular choices for slightly older children. However, parents working full time are still more likely to opt for the day nursery. On the yellow pages Web site there are 33 competitors listed, but most of them are in the same position as you, trying to start up. This is shown as in last years yellow pages there is only one competitor listed. A company called leapfrog though is a national chain; there are 14 of their nurseries spread across the midlands. There are roughly 39 in England. Training There are various childcare courses available and you should have gained a relevant qualification before you start running a nursery, so sally wont be able to start straight away. Training can be very flexible to suit you, based on full or part time courses at different levels. Local further education colleges will have lists of courses that will be appropriate for you which include N. V. Q. s, G. N. V. Q. s, H. N. D. s and H. N. C. s amongst other options. Qualifications for those working in early years education, childcare and play work fall within the occupational and vocationally related categories. You could get a NVQ in Early years care and education. Location In East Anglia there has been a 44% decrease in failing business. However this information is not all that reliable as it may say that in 2002 there has been 24 business failures, it does not say how many businesses started. If 25 businesses started and 24 failed, the figure is not at all impressive and it shows that lots of businesses failed. However if their were 100 businesses that started and 24 failed, than the figure shows that under a 1/4 of businesses failed, which is impressive. Peterborough is located 80 miles (128 kilometers) north of London and 40 miles (64 kilometers) northwest of Cambridge. The city benefits from frequent high-speed train services on the main East Coast rail line. Adjacent roads such as the A1 (M), A14 and A47 provide swift access to the national road network. There are rapid connections with major airports such as Heathrow, Gatwick, Stansted, Luton, East Midlands and Birmingham. Peterborough is within easy reach of major East Coast seaports such as Felixstowe, Harwich and Hull so exports and imports will be easily done. Peterboroughs GDP (gross domestic product) per head of population (the total rate of output divided by the resident population) is the highest in the East of England with a figure of i 13,673. The figure i received from research for the total of Englands GDP per working person is 572. 68 to 2 decimal places. However this seems unrealistic considering Peterboroughs is over 13,000. After a little more desk research i found the average weekly wage to be  444. 3, thus making the average yearly wage roughly 23,103. 6. Knowing that GDP is different to wages i will now try and find out the average yearly wage for peterborough so i have some results to compare, by doing this i will find if their is a lot of money being earned in the peterborough area compare to England. Still i cannot find the answers so i have nothing to compare. The theft rate in Peterborough is very high compared to Huntingdon. 28. 6% of 1000 vehicles are broken into in Peterborough; in Huntingdon it is only 9%. The population and households are very similar. Finance There are many different sources of finance that sally could use to finance her business. One of these is a bank loan. The advantage to this is you get a large amount of money and you dont have to wait for it. The disadvantage is that you have to pay more back than you borrowed. Investment is another source of finance, this is when you have people give you money to put into your business, but they get a percentage of the profit. The advantage of this is that you receive a large amount of money