Bringing early years business advice to the GESS Future Leaders Seminar in Dubai
The three-day GESS Future Leaders Seminar in Dubai kicked off on Tuesday 26th February and I was delighted to present a session titled ‘For practitioners who may be thinking about starting their own early years business’.
Given the nature of the Future Leaders event, and the global audience drawn to GESS Dubai, the session I presented offered advice and guidance on the kinds of personal qualities which help individuals become successful, along with the more practical fundamentals of founding, developing, acquiring and building a successful early years education business.
For aspiring business owners, knowing yourself and being honest with your aims and abilities provide the best foundations for cultivating that much-needed entrepreneurial spirit to setting up a new venture, or acquiring an existing business. Also needed is dedication and a passion to succeed in delivering the highest quality in all areas; leadership, workforce, curriculum, facilities, resources, education and care.
Having the right know-how and acumen not just in the ‘business sense’ but specifically in the early years sector is vital. Preparing a business plan and undertaking thorough due diligence in terms of location, demographics, staffing, management, operating costs and USPs, and always considering sustainable EBITDA and scope for earnings growth are all essential when contemplating the acquisition of a business or taking on a new premises for a new business venture.
In a thriving and continually growing sector such as childcare and education, there are plenty of opportunities for new leaders to emerge. 10% of all early years businesses sold through Christie & Co during 2018 were to first time buyers that had the aspiration to own their own day nursery business. With the Dubai nursery market landscape becoming increasingly divergent the future looks bright for those who are well prepared and passionate to set up or acquire their own early years business.