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The Hidden Costs Of Buying A Bed And Breakfast, Buying A Veterinary Practice? I decided to put the nursery on the market with RDK in November 2019 and was reassured that they would keep it confidential, which they did. Paul Edwards, managing director at . You may find that actually coming to market now will put you in a better position because there may be a flurry of nurseries coming to market next year., For anyone considering putting their nursery on the market, Redwoods offers free consultations with no obligation to sell. All childrens nurseries, therefore, must be registered with Ofsted on its Early Years Register. If you decide to go forward with an interview, ask them to bring along their certificates and other evidence of qualifications. So, for the sake of committing to a consultancy fee for your sellers continued involvement in your business for a limited period, these extra provisions in your sale agreement make sound commercial sense and will ensure that your business remains licensed to operate from day one. Beware The Elephant In The Room. Thankfully, there is a better way to make sure that business continuity is not lost. Inspectors are unlikely to check all policies, however, according to the Early Years inspection handbook, ones to get ready most likely are: Practitioners can access The Early Years Inspection Handbook anytime once uploaded to the Blossom platform. Pay extra attention to part 2 of the handbook for your Ofsted nursery. So whatever particular educational approach you take (whether it be Montessori like ours or others), show how it centres around the childrens growth. If, during the course of these checks, Ofsted has concerns about your suitability, registration will be refused unless those concerns can be resolved to Ofsteds satisfaction. The two most important things not to on the day are: The main rule is: Keep calm and stick to what you know and do well. Any concerns they may have/ areas for improvement, Receive diary updates, highlighting special moments, Be involved in their childs learning and development with Learning Journeys, Continue their childs education at home with Home Observations, Enjoy paperless billing (with automatic reminders), Communicate with the nursery instantly with 2 - way messaging (in beta testing), Vulnerable children, including those with SEND, are encouraged to attend the provision, Your procedures remain effective for supporting those at home and those attending your setting, Parents and carers are informed of any developments/ changes. It may be your pride and joy, but listen to the brokers advice on a realistic selling price or be prepared for a slow sale. I was amazed at the amount of documentation I had to provide, from Ofsted registration certificates and finances to building planning permission. After spending every moment with them since birth, having them go off for days at a time can be strange, and stressful. Nurseries which have strong local reputations are attractive to groups who want to grow. Easily shared with your team. Get the most from our software. This is what the final I refers to. However, some businesses forget to tell their insurance provider about the changes. Inspectors must spend as much time as possible gathering evidence about the quality of care, teaching, and learning. With around 90% of day nurseries still small and held in private hands, all this represents something of a threat to the livelihoods of thousands of less-than-hard-nosed nursery practitioners. Operating a nursery can be very satisfying and rewarding, but it takes a lot of hard work. Lets get down to the specifics. It was previously rated 'good' following an inspection in 2017. Staff and parents were very shocked when they heard I was moving on, but Ive not stepped away just yet. All of that adds up to a lot less risk, compared with starting from scratch. We designed our own logo and adopted the strapline Intelligent Daycare, based on the way our focus was on the child, not merely the convenience of the staff. Another thing to consider before embarking upon any new nursery project is the amount of free time the government claims it will give to parents. How buying a nursery with us works. We heard of one quick-thinking individual in this unfortunate situation who was able to mitigate some of the damage by persuading a number of neighbouring nurseries to take the children until his registration came through. Need help with Blossom? Documents can be uploaded to the system for cloud-based storage and quick, stress-free access. Whats The Difference Between An Asset Sale And A Share Sale? The legal forms you need to complete before registering to open a nursery. In particular, s/he will be able to get a copy of the lease and help you understand the significance of its provisions. If youre sitting with an Ofsted Good nursery, conducting a mock learning walk is excellent preparation to hit your learning walk out of the park. Although inspectors will not provide a separate grade for this crucial aspect of a providers work, they will always make a written judgement in the report about whether the arrangements for safeguarding children are effective. Ofsted quality of education, behaviour and attitudes, personal development, and leadership and management. Most childcare providers looking after children under the age of 8 must register with Ofsted (or a childminder agency). This self analysis is uncomfortable for many people until they realise the impact it has on developing and extending their knowledge and practice. When something catches your eye, call the consultant directly and ask lots of questions. Leadership and Management. Your application to register as a nursery or other daycare will not be reviewed by Ofsted until these 2 steps are also completed. How do you monitor/check childrens observations? We also use cookies set by other sites to help us deliver content from their services. This includes the evaluation schedule which specifically sets out clear criteria for each inspection judgement. Profitability is important to making a nursery attractive, but be careful not to skimp on expenditure to bump up profits. Take note of your policies and procedures. Check benefits and financial support you can get, Find out about the Energy Bills Support Scheme, Parenting, childcare and children's services, Start a nursery or other daycare business, Apply to register your nursery or other daycare organisation (EYO), Add a setting to your application to register a daycare (EYS), Daycare roles that must register with Ofsted, Apply to join a nursery or other daycare organisation (EY2), Childcare: reporting childrens accidents and injuries, Being inspected as a childminder or childcare provider, Early years foundation stage (EYFS) statutory framework, Daycare providers on the compulsory Childcare Register: Ofsted requirements, Daycare providers on the voluntary Childcare Register: Ofsted requirements, Report changes to registered people in your nursery or other daycare (EY3), Add another setting to your nursery or other daycare organisation (EYS), Applying to work for up to 50% of the time on non-domestic premises (EYA), Pay your childcare or social care invoice, Pay your Ofsted annual registration fee by direct debit, Becoming a childminder and running your business, Joining the Childcare Register and running the business, Children's centres, childminders, pre-schools and nurseries, Recruiting and managing early years staff, someones home, working with 3 or more people at the same time. You will need to register as a daycare organisation if you are running a childcare business where both of the following apply: This is known as providing childcare on domestic premises. The sooner we become involved in the process of helping you to buy your childrens nursery the more likely it is that your purchase will be successful, so please contact us today. Staff training for safeguarding practice and procedures, Make staff feel confident and calm (see what we did below! Children's Day Nursery - Cornwall. Two approaches. A Thornton Heath nursery was rated 'inadequate' after inspectors found children became bored and disruptive after being made to sit for long periods. You may be interested to know that the night before our own inspection, we threw a pizza party! Therefore we are hoping you wouldbe able to offer us some advise on general start up costs for any business. Choose a broker on their experience, references and whether you feel you can have a good working relationship with them. Specialist Software Built for Preschool Businesses. The nursery went on the market in March 2019, which was exciting, and the brochure looked great. Many buyers will research other childcare businesses within a ten-mile radius, so know your competition. Establishing whether or not the lease is a protected business lease can make a big difference to the value of a business where location is important and alternative premises are scarce. One thing becoming more of a necessity for future acquisitions will be outdoor space, says Ms Caldwell. (And rest assured that lying wont work in your favour to bump up your rating). You want to have control over it as you do not want panic to ensue. Published by MA Education Limited, St Jude's Church, Dulwich Road, Herne Hill, London SE24 0PB, a company registered in England and Wales no. (unless concerns are raised). By then we were committed, having already spent a lot of money on converting the building to nursery use and hiring a full staff ready to take in small children all without being allowed to open and actually get any fees in. buying a nursery: ofsted. Serious improvements will have to be made immediately (or at least in time for the next inspection in the following 3 years). A solicitor or business transfer agent with experience of managing acquisitions of nurseries or other educational businesses can help you scrutinise childcare nurseries for sale, obtain and scrutinise relevant paperwork, and conduct productive negotiations and detailed due diligence. While demand for nurseries remains strong, Ms Caldwell has seen a slight shift in those wishing to purchase. Photos are excellent tangible evidence that your inspector can collect all in support of improving your rating. Wed like to set additional cookies to understand how you use GOV.UK, remember your settings and improve government services. Obviously take on a few to begin with and gradually increase staff as children's numbers rise. We know about OFSTED and nursery fee funding; therefore, we can hit the ground running and deliver solutions not problems. And thats not surprising. This one should be obvious, but you always need to check that any prospective early years employee is actually qualified to work with children. And, of course, you will be inheriting someone elses name, brand and management style. Get the latest posts and industry insights straight to your inbox. While some want a profitable and cash generative business, Robert Yates, head of sales at Redwoods, says others are looking to turn around closed or underperformingsettings to gain healthy adjusted profit levels. Selling my nursery was the most difficult decision Ive made. The right buyer came along in December. This can be your home, or someone else's. You can only have a maximum of 3.