Finding tenants that will deliver a high ROI is a complicated process. You must not only consider the numbers, but also the more intangible factors – like impact on neighboring tenants, stability and brand reputation. All of these factors play a role in whether a tenant is a great fit for your mix.
When you evaluate which industries and companies have the best ROI as tenants, chances are child care isn’t top-of-mind. Though the industry can be overlooked, high-quality child care providers – specifically Primrose Schools – can bring incredible value to a development or property and nearby businesses. Here’s how a Primrose school can impact your bottom line:
Attract sophisticated customers to nearby businesses.
Today’s consumers value convenience. They want a one-stop shop for services and products that meet their daily needs, and high-quality child care is a daily need for many households:
- There are more than 11 million children under the age of five in some form of child care in the U.S., according to Child Care Aware of America.
- Households with an income greater than $100,000 account for 31 percent of the child care market.
A Primrose school is an amenity for consumers as well as nearby businesses. Each Primrose school has the potential to drive 150-200 upper-income parents to the property twice a day, five days a week to drop off and pick up their children. And these parents are likely to stop along the way at nearby grocery stores, restaurants and more to make the most of their time.
“There are parents who visit the gym after dropping off their kids, families that eat at one of our restaurants, and even people who visit our medical office tenants due to the proximity to Primrose,” says Robert Fransen, president of Coro Realty Advisors, who worked with Primrose to include a school in the Brookleigh Marketplace development in Brookhaven, Georgia. “It is all a symbiotic relationship.”
Primrose also brings its premier reputation, setting the tone for the entire development or surrounding property. “The high quality of Primrose is ideally suited to the demographic [of our development],” added Fransen.
Work with a reliable, experienced team to close the deal.
In commercial real estate, working with trusted, experienced partners can be the difference between making a successful transaction and wasting your time and money. Primrose Schools awarded its first franchise in 1990 and now has nearly 400 locations across 29 states. Every new location is supported by our national Real Estate Team. With a diverse portfolio and experienced professionals, our team is focused and poised to complete your deals in a professional, thorough manner.
“Primrose is highly sophisticated, highly responsive, and they have a very clear path to getting a project completed,” says Josh Gregory, senior vice president with Colliers International, who worked on Primrose School of Buckhead in Atlanta, Ga.
“But that path is not so stringent that it lacks flexibility. The Primrose Real Estate Team is really easy to do deals with. They always manage to get it done.”
Fill the space for years to come.
Identifying the right fit for a space is an extensive process, so it’s not something you want to repeat every few years. Primrose has a proven track record of being a stable, long-lasting tenant.
We don’t leave the success of each school to chance. Every Primrose school has a team of operations, education and marketing consultants from our National Leadership Support Team that provides continuous, comprehensive support to Franchise Owners.
The child care industry as a whole is also steady and growing. In fact, there is a significant need for child care across the country. In a recent survey by NPR, the Robert Wood Johnson Foundation and the Harvard T.H. Chan School of Public Health, a third of the 1,000 parents surveyed reported difficulty finding child care. Additionally, 67 percent said they had limited “realistic” options for child care.
Demand for high-quality early education and care is only poised to increase as more than a million millennials are becoming parents each year, according to the Pew Research Center. Primrose is helping to meet this need in markets across the country and has a 35-year history as a steady addition to developments and communities.
Adding a Primrose school to your property or development is not only a strong financial choice, but can provide long-term value to you, surrounding businesses and the entire community. If you have a site that meets our criteria, consider Primrose Schools.
Let’s work together. Reach out to our team to learn more about our target markets for 2019.