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A wise man once said that you cannot get to where you are going until you know where you are. This has never been more appropriate than when it comes to setting up a nursery school or other childcare facility as unless you know the state of the market which you are about to enter, it is extremely difficult to know with any certainty whether your new nursery is likely to be successful or not. In fact, if you do not what is going on around you and where you fit into the equation then the chances of success are likely to be low or at best, diminished significantly. So how would someone looking to set up their own nursery go about finding out what is possible in the nursery world? Well the first crucial step in making sure you understand what is happening in the nursery or childcare industry or market is to carry out some form of market research. When it comes to researching the nursery sector there are two main ways in which you can research the market and these are to carry out either primary or secondary research. Primarily research involves you or you paying someone to collect information or data that has not already been collected. Whilst this method of research is the most expensive and time consuming, it can bring the most accurate results as you can tailor the questions you ask and information you are after to your exact needs. Examples of primary research you can carry out when deciding whether to set up your own nursery or childcare facility includes interviewing local people and potential customers for their thoughts, views and expectations when it comes to local childcare. You could also send out questionnaires in the post or conduct telephone surveys again asking for information and opinion about whether a new nursery is a viable option. Another type of research you can carry out is secondary research and this may appeal to you as the data and information already exists. You should be careful when relying on secondary data though as by its very nature, it has not been collected with your specific needs in mind. There is also a possibility that the data could be out of date, vague and also not accurate. Sources of secondary data could be trade magazines like Nursery World, internet sites including the day nurseries guide, your local chamber of commerce, OFSTED and other trade associations. Companies who deal with nurseries like specialist nursery insurance brokers could also provide you with information that could help in your decision whether to set up your own nursery or not. And on the subject of research, the data and information you collect can really fall into two main categories and they are qualitative data and quantitative data. As their names suggest, qualitative data focuses on peoples attitudes and opinions about a particular issue and this could be asking whether they feel there is even a need for a new nursery in your area. Quantitative data focuses on collecting data for numerical analysis. This could be finding out how many nurseries there are in your location or how much they charge for places at their nursery. Conducting research is vital for anyone looking to break into the childcare industry or indeed any industry. And whilst the lure of secondary research might be appealing it might not be the best way to establish whether a need exists and whether you have a chance of setting up and running a successful business. Do your research well and providing the results indicate you have a chance of success, your route to running your own nursery could well be a successful one.
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