Know Your Market with Grafton Milne

Child Care Rockstar Radio

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10M ago 33:58

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In this episode, Kris welcomes Grafton Milne and shares a glimpse into his distinctive expertise in childcare real estate. Grafton gives practical insights on understanding your market through straightforward approaches, emphasizing clarity and actionable insights. He talks more about his latest book, Childcare Center Success: How to Maximize Profits and Minimize Mistakes, highlighting key practices such as measuring due diligence, nuanced market understanding, strategic planning, and the latest trends in real estate. Grafton also sheds light on some of his favorite go-to tools tailored to enhance your understanding of the market dynamics, in an industry where one neighborhood could make a world of difference.

Key Takeaways:

[6:30] How Grafton fell into the niche of early childhood by happenstance.

[7:29] Grafton’s degree was in marketing and advertising with a minor in business.

[8:15] Grafton has a busy home life with four energetic young kids, who keep him and his wife very busy.

[8:51] Fun fact: Grafton visited Scotland and Ireland and fell in love with the countries, so don’t be surprised if you ever see him learning the bagpipes!

[9:26] The process of and inspiration behind Grafton’s new book, Childcare Center Success: How to Maximize Profits and Minimize Mistakes.

[11:08] What does it mean to make sure you are getting the appropriate amount of due diligence?

[12:17] How can you measure due diligence?

[15:14] Tips for strategic planning and the cost-of-care model.

[17:14] Examples of how real estate can positively or negatively impact a childcare center’s success.

[19:21] How Grafton’s experience in commercial real estate in the early childhood niche sets him apart.

[25:20] What Grafton would tell his 20-year-old self.

[29:32] What we can expect from Grafton and his team in 2024?

[30:06] Where are the hot markets now?

Quotes:

“Different streets and different neighborhoods can make or break your business.” — Kris [3:05]

“The takeaway is, you’ve got to do some due diligence to make sure that you’re making an educated and informed decision.” — Grafton [12:29]

“You can’t overcompensate the importance of just taking care of your mental health and surrounding yourself with good people and good influences.” — Grafton [25:53]