Oksana Kuzmina / Nenov Brothers Images / Shutterstock.com Must Read | Building Blocks For Busy Daycares It’s easy as 1-2-3: When daycare facilities want to grow, they should turn to promo. By Audrey Sellers IT’S AN INTERESTING time to own a daycare facility. The U.S. childcare market is valued at more than $70 billion and is projected to soar to $189 billion by 2027. As more working parents get called back into the office, they’re not leaning on family members or hiring nannies – more than half (58%) are relying on childcare centers. This means more than 6 million parents across the United States shuttle their kids to and from daycare every workday. Throughout the U.S. and Canada, half of all daycare facilities are over 80% enrolled. For daycare operators, this good news comes with a caveat – an uptick in enrollment means more revenue, but also the need for more staff members. Since 2020, daycare workers have been particularly hard to find and retain. The childcare market has lost about 88,000 workers – or 8% of the childcare workforce – in the past three years, according to the Center for American Progress. Many of these workers have moved on to higher-paying jobs. As a result, 40% of daycare centers are understaffed. On the other side of the daycare fence are the parents. Like daycare proprietors, they’re experiencing some challenges. They need a 74 • OCTOBER 2023 • PPAI
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