Areas needing improvement will be identified by your inspector. To avoid the possibility of your day nursery being unlicensed for any period youll need to be proactive with the seller early on in the transaction process. I sold it last year as a 68-place nursery with a before- and after-school club and minibus. As you might imagine, all of this checking takes time. Some owners are being cautious about putting their nursery on the market, but with buyers' enquiries going through the roof, now is a good time, advises Mr Yates. For further information about buying this book or joining the NDNA, visit the website. Registering as the wrong type of childcarer may delay when you can start work. We also use cookies set by other sites to help us deliver content from their services. In particular, you need to carefully check the remaining term of the lease; it may be there is only a few months tenure remaining, which is clearly unsatisfactory for the future stability and saleability of your business. After all the effort put into your setting, it doesnt seem right. It was exhausting and made harder because I had to keep it secret from my staff so I did not jeopardise the sale. They need to be continuously improving as childrens safety is of paramount importance. You need to be confident that the numbers stack up. The premises must be safe and secure, and any furniture and equipment must be well maintained and conform to safety standards. Early years services must have clear and current policies which set out proper disclosure and barring checks for potential recruits. You will need to maintain your Ofsted registration with an annual fee. For guidance on how to register with a childminder agency, or if you are already with an agency, contact the agency directly. It is clear that the Covid-19 pandemic has increased safeguarding risks EY settings. And this is the time to let the nursery shine! It was good that I had an honest and open relationship with the buyer and that I had a network of other owners in the sector who I could turn to along with my advisor at Redwoods. Make The Early Years Inspection Handbook familiar and readily available. Resource packs to supercharge your planning, I would like to receive regular updates from Teachwire with free lesson plans, great new teaching ideas, offers and more. The African veldt; The Lake District; the seaside at Broadstairs; the sky at night, complete with little green spacemen for the Baby Sleep room all charming scenes with lots of things for children to discover and help them exercise their imaginations. The backers wanted an additional report from a structural engineer and conducted an Ofsted-style inspection to check the standard of care and education. I contacted Redwoods because Id seen adverts in Nursery World and found them really knowledgeable. Sounds straightforward enough, but what you may not appreciate is that this registration process is incredibly thorough, taking up to 26 weeks to complete. Check out these examples of inspection questions: The inspector will most likely ask several staff members about one of their key children and their development questions such as: Your inspector only sees a snapshot of your setting on inspection day. Most childcare providers looking after children under the age of 8 must register with Ofsted (or a childminder agency). Buyers are looking for deals and are prepared to work to tight timescales to secure the right opportunities. Inspectors discovered some children became bored and sometimes there was a . Here are some policies that you should implement: Write out the approach that you take to recruiting staff or volunteers to work with your children. I agreed a sale two months later after seven viewings and two offers. We have heard horror stories of nurseries attempting new activities on inspection day and children piping up saying, Why are we doing this? Its good to focus on things you are doing well (rather than what needs some work). Buying an out-of-school club is a similar process to buying a nursery - and believe me, I made mistakes. Dont worry we wont send you spam or share your email address with anyone. What does each rating mean exactly? This process, while sounding simple enough, can be tedious and costly if not done. You may be interested to know that the night before our own inspection, we threw a pizza party! If you have a particular question relating to your sector, get in touch and well get Kate on the case. This is not a change in law or practice. While demand for nurseries remains strong, Ms Caldwell has seen a slight shift in those wishing to purchase. These are: Inadequate, Requires Improvement, Good, and last but not least, Outstanding. Make all events past and present shine, 17. Lets break it down. It will take only 2 minutes to fill in. My nurserys reputation and close proximity to the other three settings influenced the sale, along with the potential for growth. When business owners need practical legal advice, delivered by sector experts, they turn to Truelegal. It was previously rated 'good' following an inspection in 2017. It will also have a link to an overview page where you can check the progress of all these connected applications. Make a point to inform your inspector on how you have adopted your approach and policies to ensure that: The learning walk on your inspection day encompasses a 15-20 min walk with the manager and inspector. Discussions with children about their likes and dislikes. She reminds me of a younger version of myself a trained teacher, very caring and has ambitions for marketing the business. What impact have I made as an individual to this setting and its children? Nursery groups are the quickest, best-resourced and easiest people to sell to, but will not normally look at anything with fewer than 50 places 70 or more is usually preferable. Where a day nursery changes hands, or a new business is set up, the new owner must go through the registration process. After paying for staff, rent, and resources such as toys, equipment and food, margins can be slim for all but the most successful childrens nurseries. Remind them that its alright to acknowledge mistakes, and emphasis that the inspection is a celebration of accomplishments that your staff should be proud of. Do not ignore this. Overall effectiveness and sub-judgments of active EY registered providers. Chat about it now and then in the common room over tea. It could mean the difference between making an offer or not, and save you time, money and sleepless nights. The inspection at the nursery, which has 122 children on roll, took place on January 21. At an Ofsted Outstanding nursery, your staff are brilliant role models who put caring for the children first. If you are an owner thinking that youll leave it until next year, perhaps bear in mind there may be another 500 owners are thinking the same. I would encourage anyone considering their exit within the next two years to contact us to discuss if now is the right time for them to exit, he says. At all stages in the recruitment process (and in life generally), it is imperative that you do not adopt any attitude of discrimination. The Hidden Costs Of Buying A Bed And Breakfast, Buying A Veterinary Practice? Whats the local competition? Section 5: The leadership and management of the Early Years provision. This, it turned out, was nothing to do with fillet steak in a plastic bag; rather, it meant you just had to make your best offer and hope for the best. This is where youre most likely sitting. Mainly, the aims you have to help your children develop and learn. Gain an insight into the effectiveness of the provisions professional development programme for practitioners, Learn about the providers view of staffs interactions with children, See the quality of the implementation of the curriculum/educational programmes. We held viewings out of hours. Specifically, your inspector will examine: How do you know that what youre doing at your setting is making a difference? Had we been newcomers, this would have broken us. If you are registered on the Early Years register, you must meet the early years foundation stage framework standards. We are assuming that are first steps will be to find . Make The Early Years Inspection Handbook familiar and readily available. I was surprised to be told how unique my nursery was. You can configure the nursery exactly as you want to. Take note of your policies and procedures. Paul Edwards, managing director at . These should prioritise childrens safety and wellbeing. What Are The Average Solicitors Fees For Buying Or Selling A Business? In these circumstances it is normal to agree and include the following provisions in the contract: a) that the seller continues to provide some form of consultancy to the new business (it may be as little as a couple of hours a week) and b) for you, the buyer, to provide an indemnity to the seller agreeing that should Ofsted make any kind of claim against the seller with regard to the Ofsted registration, you will reimburse the seller for the amount of the claim and any associated costs. This sets the tone for your setting overall. In this case, you can choose to register either with Ofsted or with a childminder agency. Of course, setting up your own day nursery has a number of advantages. Step 3. Nurseries can be bought from anything from 20,000 for one that has been run in a rented hall, where you're buying the name and goodwill, and up to millions for a purpose-built freehold property with staff and a list of names waiting for places. Boosting your rating from an Ofsted Good nursery, to an Ofsted Outstanding nursery will not happen overnight but its clear that its not impossible either. Our reputation for identifying and prioritising the value-driving aspects of a business transaction and our get-it-done attitude have won us repeat clients and multiple referrals from business brokers and transfer agents. Downloadable content that provides real answers & insights. Other than that, people want much the same as before. Ofsted never answered any questions about responsibility or compensation Be prepared to show how your childrens needs and wants are being met in the context of the virus. If you have a smaller nursery, such as a 24-place setting in a church hall, the only potential buyers will likely be from the local area, which presents risks of fishing, information leaks, problems with funding and uncertain deadlines. We walk clients through how to prepare their business for sale and we can highlight their businesss unique selling points., Willowbrook Nursery in North Mymms, Hertfordshire. In practice (assuming you are taking your responsibilities seriously), it is highly unlikely that the indemnity provision will ever be invoked; but it gives your seller some comfort. What are some positive changes that I have made? Parents overall satisfaction with the service and care provided to their child (ren). Find a confidential broker who has experience in the nursery sector. Lets get in touch. Wed like to set additional cookies to understand how you use GOV.UK, remember your settings and improve government services. When Redwoods Dowling Kerr initially contacted me two years ago, I was actually quite offended at the thought of selling, but it got me thinking and later I was interested in receiving a valuation. You will need to apply to register as a daycare if you will be looking after children aged up to the 31 August following their fifth birthday in: You must register with Ofsted unless you plan to work with 3 or more people in someones home. Covid-19 has left the economy reeling and hit the already under-funded early years sector with many nurseries left struggling to fill places but, perhaps surprisingly, it has not dented confidence among potential investors in the market. By signing up you agree to our terms and conditions and privacy policy. In that case, this will trigger a surprise inspection. Dont include personal or financial information like your National Insurance number or credit card details. The Charity Commission has launched a compliance case into the Abu Bakr Trust, which runs three schools and a nursery in Walsall, in the West Midlands, after staff used social media channels to .