Who are the competitors of your daycare business?

As a Confucius saying goes, Know yourself and your enemy and you will win all battles.

We hear the word "competitors" all the time. But do you really know who are your competitors? Without knowing who your competitors are, you will not be able to develop marketing strategies that can effectively overcome your competition

There are 2 key types of competitors that all daycare faces:

Direct competition
Your direct competitors are those that have an immediate impact on your sales and marketing efforts. An adjustment in their price or daycare service offerings is likely to have a direct and sometimes rather immediate impact on your customer numbers. Your direct competitors are the other daycare centres in and around your geographical area.

Indirect competition
Your indirect competitors are those who are not offering daycare services but services complementary to yours. These could be the home daycares, baby sitters or nannies. They may not possess the facilities that you have but they offer parents another alternative. Even home makers are your indirect competitors are instead of using your daycare services, the children are staying home with their mummies.

It is only when you know who your competitors are that you can develop strategies to overcome the competition.