Default Style Register
Daycare.com Forum
New Members - Welcome to the Daycare.com Forum!>Desperately in Need of Honest Opinions (Starting Daycare in CA)
DaddyDaycare 08:48 PM 03-20-2019
Hello everyone,

I am thinking about opening a new daycare in Irvine, CA specializing in Mandarin-immersion. However, I am not sure it makes financial sense for someone in my income bracket. I am looking for honest feedback and advice: how feasible is it to make $150K-$200K/year as an owner/operator of a small to mid-sized daycare center?

About Me:
- New father! (I'm 35, my daughter is 4 months old)
- Extensive corporate business experience (MBA from USC, working in tech industry, ~$150K annual income)
- Zero experience in daycare or early childhood development

My Story:
- My wife and I are Chinese, but are both born and raised here
- We both speak fluent Mandarin but cannot read or write
- We want our daughter to learn Mandarin, but are very concerned that we won't be able to provide the same environment we had growing up (Our parents only speak Mandarin; We only speak Mandarin *to* our parents)
- We are also concerned about the cost of sending a SECOND child to this super expensive daycare

My Idea:
- Mandarin Immersion Daycare Center for Ages 2-6
- I believe there is growing demand, not only from second generation immigrants such as myself, but also from non-Chinese parents or mixed-race parents. There is a large Asian-American population in Irvine, as well as Fortune 500 companies and high disposable income.
- There is only one competitor nearby (LePort) with 1-2 year wait list, tuition is ~2300/month
- We visited 6-7 other daycare centers in our area (not language specific) and all had lengthy wait lists as well

My Dilemma:
- I'm great at what I currently do, while daycare is an unknown. It'd at least take time to complete ECD courses and gain experience.
- I have my wife's full support, and we will be OK financially even if we forego my salary
- I currently make ~150K/year and believe I can ultimately clear $200K/year. Our current quality of life is great and money isn't a concern as long as we don't do something stupid like maybe leaving a good paying job to start a business I have no experience in

Money isn't my main motive as I'd love to do something a bit more fulfilling. However, I would be leaving behind a good career and stable income. There is a ton of work ahead if I choose this route and it should at least make financial sense.

What is the likelihood that I will be able to make a similar amount of money

Most of my research doesn't give me enough details - IE national averages doesn't consider California's higher pricing and wages. I am looking at a daycare center and not an at home one, and this would be positioned as a mid-to-premium daycare with the rare focus on Mandarin-immersion.

If you have made is this far, thank you!
Reply
Tags:blackcat, center - small, continuing ed, income - profit, irvine, licensing regulations, mandarin, required supplies, start up expenses
Up