General Information
Business resources for early education providers addressing COVID-19

COVID-19 HELP

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Business resources for early education providers addressing COVID-19

 

Tuition & Other Revenue Strategies

  • Capture revenue

  • Ask families to pay/donate

  • Communicate honestly with families

  • Relationships are important

  • Keep the learning happening

  • Treat each situation on a case by case basis

  • Consider modifying current contracts

  • Add subsidy & school age care to offerings

 

Creative Financing

  • Supply Donations

  • Business Grants

  • Direct Loans

  • Home Equity Loans

  • Retirement Accounts

  • Friends/Family

Strategies for Managing Expenses

  • Reduce Labor Costs

  • Forgive overhead expenses

  • Review all expenses and eliminate non-essentials

  • Negotiate with creditors - all of them!

  • Consider delayed tax options:

    • IRS Tax Deadline Info Extended to July 15

    • Virginia Tax Filing Info Remains May 1

 

Next Steps

  • Parents may seek temporary child care

  • Consider offering less than full-time care:

    • part-time​, drop-in​

    • overnight, weekend

  • Care for school age children ​

  • If you change hours, contact business liability insurance to make sure you're still covered

  • Prepare for summer programming

  • Catch up on your wish list:  add technology, engage social media, update your website

 
 
 
 
Early Education Business Consultants | Virginia Beach, VA
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