Overview

Feasibility studies provide information critical to evaluating the potential of a new project, based on a complete review of the market dynamics, services, customers, competition, and pricing. This information can be used to determine if a project is feasible, and assist in developing a successful business plan.

Since no two projects are the same, Perspectives Consulting Group, Inc. focuses on identifying and providing relevant information for each project using a customized research process. Our research process includes telephone interviews, contacting various knowledgeable sources, and researching the industry as a whole. Once the information is obtained, Perspectives Consulting Group, Inc. analyzes the information and provides direction for making effective and efficient decisions.

Child Care and School Feasibility Studies

Although each child care center under consideration is unique, generally, child care feasibility studies profile five areas:

• Market Dynamics - General information on the child care market
• Services - What type of child care services are being sought out
• Customers - Who currently purchases child care services
• Competition - Who provides the current child care services offered
• Pricing - What pricing levels are there for child care services

Each school under consideration is unique as well; generally, school feasibility studies profile five areas:

• Market Dynamics - General information on the education market
• Services - What type of education services are being sought out
• Customers - Who makes the educational decisions
• Competition - Who provides schools currently
• Pricing - What pricing levels are there for schools

Often, the most productive information is found by talking directly to customers and competitors in the market. Customized surveying and interviewing of customers and competitors provides enhanced information to meet the needs of the client. Perspectives Consulting Group, Inc. also uses information sources such as trade periodicals, databases, government statistics, news publications, and industry association reports to uncover basic information about the child care or education industry.

Child Care and School Feasibility Study Outline

The following outline lists information provided in a typical child care or school feasibility study:

Market Dynamics

• Overall market size
• Market activity - growth/decline/stagnant
• Information about industry changes in your state  

Services

• Types and usage of services
• Key attributes such as transportation, technology, special needs offerings, etc.
• Interest in potential new services
• Ranked importance of key attributes

Customers

• Satisfaction with current child care services or schools
• Current spending on child care services or schools
• Willingness to switch child care services or schools
• Demographic information - age, income, ethnic background, etc. 

Competition

• Primary competitors - number, names
• Types of services provided
• Number of children and openings

Pricing

• Customer price sensitivity
• Price levels and structures for current services