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Ontario’s Childcare IndustryCo-President’s Message continued from page 3publications that allow its membersto learn from one another and fromexperts in other fields about management,leadership and growth. Membershipin ADCO also means that youautomatically receive the backgroundinformation you need to anticipate,understand and respond to potentialchanges in government policy.While we encourage all ADCOmembers to be proactive in their advocacyby keeping their elected officials,the families they serve and theirlocal media informed about the realimpacts of government policy, oneinsight that we sincerely hope thatall ADCO members will gain is theimportance of not taking changes ingovernment policy personally. TheELP is not the first time that Provincialpolicy has wrought dramatic changesupon Ontario’s licensed child careowner/operators and the familiesthey serve and it won’t be the last.Within the last decade, we’ve seenresponsibility for the funding andregulation of child care shuffled fromone Ministry to the next: from Communityand Social Services, to Childrenand Youth Services and mostrecently to Education. We’ve seen theProvince download responsibility formanaging most components of Ontario’slicensed child care system tothe municipalities and prior to that,we saw a Provincial administrationfocused on eliminating all privatelyowned licensed child care programsand attempting to seize their assets.Through it all, independent licensedchild care owner/operatorshave continued to deliver the affordable,high quality early learning andchild care services Ontario’s familiesneed most. We’ve had no choice.Our livelihood depends on our abilityto stay relevant to families andkeep expanding and enhancing ourprograms to serve more of them. Asan industry and as individual owner/operators,Ontario’s independentlicensed child programs listen tofamilies, respond to their needs, anticipatewhat they might want inthe future and do everything in ourpower to provide it.As a result, Ontario’s independentlicensed child care owner/operatorsare the experts in increasingaccess to high quality early learningexperiences in this province.We were doing it long beforegovernments even recognized EarlyChildhood Education as a professionor began paying lip service tothe value of play-based learning.Delivering high quality experiencesthat strengthen family life in Ontariois more than a job to us. It is ourreason for being. We’re trained forit. We’ve dedicated our lives to it andmost of us can’t even imagine doinganything else. It would be greatif the Government’s ELP and childcare modernization initiatives capitalizedupon our experience and expertise.We sincerely encourage youto get involved and see that it does.The fact remains, however, that thevast majority of us will continue tobring much needed advancementsto the fields of early childhood developmentand non-parental careno matter what. It’s what we do.4 ChildcareTODAY • SUMMER/BACK TO SCHOOL 2012
Ontario’s Childcare IndustryAs I See ItTHINKING ABOUT SELLING YOUR CENTRE?READ THIS FIRST, PART IIBy: Ernest Kockeritz, DTZ Barnicke.If you own a licensed child care program thatoperates in leased premises and you decideyou’d like to sell it, you face a number ofunique challenges. While almost any real estate transactionruns more smoothly when the seller providespotential buyers with as much information as possible,this is even more important when the enterprise youare selling does not include land or a building. Fromthe standpoint of a potential buyer, there may be aheightened sense of risk in the transaction. Being aswell prepared and transparent as possible is critical ifyou want to ensure a timely sale and smooth transitionto a new owner. It helps if set the goal of doingeverything you possibly can to help ensure the newowner’s success.The following tips and ideas are designed to orientyou to this and serve as a mini-survival guide. Thereare four main compnents to the sale of a child careprogram: preparation; marketing; due diligence andtransition. Proper attention to each helps minimize theeffect of any of the speed bumps you might encounter.At all points in the process, you want to be able to respondspeedily and professionally to a query from apotential buyer.PreparationThe most important decisions you will make takeplace in the preparation phase of the process. Thisphase includes the following steps: Choose your agentIn addition to being a critical member of the TEAMyou will need to complete the sale of your centre,your agent must be regarded by prospective buyersas someone in whom they can place their trust andconfidence. To earn this level of credibility, youragent must possess industry knowledge of issues,challenges, key DNA provisions, licensing, operatingprinciples affecting class size, safety and efficiency,etc. Be prepared to conduct in-depth interviewswith several agents before making yourfinal decision Establish your TEAMYour TEAM of experts needs to include a real estateagent, an accountant and a lawyer. Introducethem to one another sooner rather than later. Thereneeds to be significant information flow among thefour of you. Establish a valuation for the businessUsing your TEAM members, establish a valuationfor the business. Be realistic. Heed industry normsand formulate and understand where your centresits on the hierarchy of desirability. You will need todiscuss openly the annual Net income you receive asan owner. Ensure your financial statements are currentFinancial statements rarely reveal the Net incomeof the business. Be prepared to identify the exact lineitems where your salary, dividend, bonus, food supplyand car rental are to be found. An accurate Net incomeis required for valuation and marketing. Pleasebe aware that audited statements are preferable to aNotice to Reader. Be prepared to finance the saleIt is highly probable that a buyer will be unable tofinance the purchase via traditional banking sources.Many will look to you for Vendor financing via a VendorTake Back Mortgage. Work with your TEAM to decide inadvance the amount you are prepared to finance andfor what term. Make sure you understand the tax benefitsassociated with this.As I See It continued on next pageSUMMER/BACK TO SCHOOL 2012 • ChildcareTODAY 5
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