I work for a preschool and last financial year we ended in a significant deficit. Looking at the profit and loss forecast the same thing will happen again year on year - income isn't covering expenditure. Is there anyone here who can offer any advice? We are run by a Committee of parents. TIA.
I don't currently have any children in pre-school, but things that have helped our local one in the past include:
- Setting the fees for 3+ at the same level that you would get from funding. This helps stop the situation where parents use their 15hrs funding wholly or partly at another pre-school, knowing that you will only charge a lower rate for extra hours instead of the full rate charged by the other pre-school.
- Asking around to see if anyone you/the staff/other parents work for a company who have a matched fundraising scheme. Some of the bigger companies used to have a policy where if an employee raised money for a good cause, the company would match that amount. So raising £50 meant you actually got £100.
-If you are registered as a charity, you will have access to more grants from the community. Many of the places offering money will stipulate that you must be a charity in order to benefit.
- Ask for donations of food for pre-school snacks. If you have to buy fresh fruit every day, the costs can spiral. Parents may be willing to bring in a small bag of fruit to share out.