Blessed Beginnings Increases Financial Stability
What was the challenge?
Owner, Mrs. LaShawn Bridges of Blessed Beginnings Learning Center, LLC was faced with shoeboxes of receipts and loads of documents with no real system for managing her family child care business records. She felt like her business was operating fine but record keeping attempts was not a top priority. FCF conducted an individual consultation with LaShawn to see why she was struggling and assisted her in organizing her receipts and documentation in a way that worked for her. Having all of her documents assembled and placed where she could find things, she felt confident to complete a financial analysis of her business. From the analysis, she learned not only was she turning a profit, but that she had options on what to do with the excess capital. She could potentially increase pay to staff, herself, or make small facility improvements.
No stranger to community outreach, LaShawn applied for several grants within the community and received not one but two! She attributed the success of those grants to FCF helping her understand the importance of good record keeping, regularly reviewing financial information, and being comfortable talking about your financial needs as it relates to your business. She received technology and STEM programming items along with facility upgrades, this is all attributed to the fact that Mrs. Bridges decided to learn and apply what she got from FCF about “the business side” of child care.
How did First Children’s Finance help?
First Children’s Finance first conducted a business assessment for LaShawn, and she enrolled in a cohort specific to the business providers on leadership development. FCF provided ongoing individual consultation and technical assistance. We reviewed her business’s goals and projections for the next year, record keeping habits, her financial condition, and how her business is positioned for sustainable success. We provided a customized financial analysis that included recommendations for the entire business. FCF also helped identify and shared local grant information with all the cohort participants, like Mrs. LaShawn so providers could gain access to financial capital to contribute to their business improvements.
What was the outcome?
Blessed Beginnings is stable and fully enrolled, a LaShawn has become a voice and advocate for the early childhood community and a businesswoman with clear direction on how her financial future looks. She is a champion and cheerleader for FCF and continues to encourage her peers about the benefits and resources readily available to child care providers who believe in the essential promise of staying in business for the betterment of the children and families they serve.