Finding a building to house a daycare center is not easy! There are a plethora of rules – square footage per child, green space per child, kitchen requirements, windows must be 20% of the wall space, etc.
Leasing is expensive – way more than we originally budgeted. We would end up paying $10,000/month for most buildings. Not including renovation costs.
Buying a building is almost impossible through traditional lenders. First, they want a 20% down payment (plus closing costs). They also want financials for the last 2 years of operating (which we don’t have because we are not set up yet).
There are (still) no spots available from the provincial government which means there are no grants – set up or ongoing. In other words, we need to have enough for renovations as well.
So where does that leave us? Fundraising. Or begging for someone to donate a building or financially back a building purchase and renovation.
As a side note, we have explored the following buildings to date:
- (old) It’s A Blast building – no windows, no green space.
- (old) Martin’s Dance School (church) – not enough windows or green space. Required extensive renovation – roof, for example. Cost was reasonable – $300,000.
- Traveller’s Building – too expensive ($1.2 million) and no guarantee it was even usable.
- Various buildings off MLS – usually not enough green space.
Back to fundraising…Darian Durant Canvas Print Raffle Tickets anyone?