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The growing strain on the child care business model: Economic impacts and opportunities for improving affordability and access (Synopsis)

Description:

The success of a flourishing economy, community, and workforce is dependent upon child care that is both accessible and affordable. Yet, the business model for providing child care services in Colorado has been strained for years and both supply and access have been declining. To become sustainable, the regulatory environment governing the child care business model needs to be overhauled. EPIC’s Child Care Design Lab Financial Model takes a deep dive into the total revenue and expenses for a child care business and incorporates the regulatory requirements they face. In using EPIC’s model, it is clear that the child care business model is strained and unsustainable. It is leaving most child care programs in Colorado unable to provide high quality services, pay wages that attract and retain qualified educators, and charge tuition that is affordable for parents without incurring major financial losses or receiving financial support from the government. (author abstract)

Resource Type:
Fact Sheets & Briefs
Publisher(s):
Country:
United States
State(s):
Colorado

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