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Presentation to Dr. D. K. Cheng

Presentation to Dr. D. K. Cheng Introduction to Knowledge Learning Corporation and the U.S. Childcare Market. November 28, 2005. Introduction to the US childcare market. The childcare market serves 24MM children and has revenues of $40 billion in the U.S.

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Presentation to Dr. D. K. Cheng

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  1. Presentation to Dr. D. K. Cheng Introduction to Knowledge Learning Corporation and the U.S. Childcare Market November 28, 2005

  2. Introduction to the US childcare market • The childcare market serves 24MM children and has revenues of $40 billion in the U.S. • Of 24MM children under 5, 5.5MM receive center-based care • For-profit centers receive higher revenues– an average of over $5M per child • The childcare market will continue to grow at 8% per year through 2010 • Center-based childcare is fragmented--the top 5 providers account for only 11% of the market

  3. The childcare market serves 24MM children and has revenues of $40 billion Number of Children and Dollars by Child Care Arrangement(2004) • Non-family center-based childcare comprises approximately 65% of the dollars spent * Other includes: Nannies, babysitters and establishments whose primary service is not childcare (some churches, disabled and community action agencies, etc.)Source: 2002 US Economic Census; US Census Bureau; NSAF

  4. Of 24MM children under 5, 5.5MM receive center-based care Stand-alone centers serve about 2.2MM children Number of Children by Child Care Arrangement (Ages 0-5)(2004) Center-Based Care by Location Source: Urban Institute National Survey of American Families n = 40K; NHES, Early Childhood Program Participation Survey, 2001; US Economic Census; ThinkEquity

  5. For-profit centers receive higher revenues– an average of over $5K per child Average Cost / Student / Year Source: Urban Institute National Survey of American Families n = 40K; NHES, Early Childhood Program Participation Survey, 2001; US Economic Census; ThinkEquity

  6. The childcare market will continue to grow at 8% per year through 2010 Center-Based Childcare Market Growth (Actual vs. Fitted) and Forecast (1988-2010) CAGR CAGR Historical Forecast ('88-'05) ('05-'10F) $50B 8% 8% Forecast $40B $30B Market Size $20B Actual Fitted $10B $0B 1997 1998 1999 2000 2001 2002 2003 2004 1988 1989 1990 1991 1992 1993 1994 1995 1996 2005F 2006F 2007F 2008F 2009F 2010F Note: R2=.95Source: Census; Global Insight; Parthenon Analysis

  7. Center-based childcare is fragmented--the top 5 providers account for only 11% Center Based Childcare Source: Company Data; OneSource; The Child Care Information Exchange

  8. Introduction to Knowledge Learning Corp • KLC is the largest childcare company in the US • Brands include Kindercare, Children’s World, Mulberry, Knowledge Beginnings • Operating in 39 states and District of Columbia • 1,967 Community Centers, 126 Employer Partnership Centers, 633 School Partnership Centers • KLC has developed a strong research-based curriculum • KLC is the industry leader in developing and training quality teaching staff • KLC parents are well above average in satisfaction (87th percentile) • KLC has built more new childcare centers than any other company • KLC’s operating policies ensure quality • KLC offers a broad range of educational services from infancy through high school: • KLC has a strong management team

  9. Proven Curriculum Philosophy • KLC’s well developed early childhood education sets it apart • Focus on enrichment, education and caring relationships • Research-based proprietary curriculum: Created by educators for educators • Based on research and philosophies of developmental psychologists including the influential Swiss psychologist Jean Piaget • Tied to National Education Goals Panel’s 5 dimensions of school readiness (physical well-being and motor development; social and emotional development; approaches toward learning; language development; cognition and general knowledge) • Developmentally appropriate materials and child assessments • Individual learning opportunities appropriate to each child’s developmental level • Balance of structure and teacher flexibility • Emphasis on parent involvement

  10. Early Foundations Infant and Toddler Curriculum • Monthly and seasonal themes and enrichment kits to prompt environment change and vocabulary development • Educational objectives link to preschool framework • Individual and group activity plans and observation inventories • Monthly and seasonal parent posters and take home letters

  11. Early Foundations Preschool Curriculum • Curriculum features research-based teaching methods including: • Teacher-guided whole group instruction • Small group focal activities • Dedicated daily literacy-building activities • Use of high quality children’s literature • Child-directed play in enriched learning centers • Observational assessment

  12. KLC is the industry leader in developing and training quality teaching staff • Highest qualifications • Comprehensive professional development plan for all teachers exceeding industry standards • Teacher qualifications typically exceed national accreditation guidelines and state requirements • Centralized background check process • Comprehensive support systems • 1350 Program Specialists dedicated to delivering and maintaining educational programs nationwide • At least 2 full days of required professional development days annually (centers close) • Educational stipend of $2,500 available to all full-time teachers • Peer training network in place to spread educational and systems oriented knowledge and best practices • Monthly training materials supported by Education & Training Department

  13. KLC has built more centers than any other childcare provider • Center designs are based on most current research in child development • Layouts offer developmentally-appropriate experiences for each age group and support curriculum • Safety and supervision is a focus in all aspects of center design • Typical center can hold 100-200 students

  14. KLC’s operating policies ensure quality • Site visit system to ensure consistent quality in all centers • Staff assessments and comprehensive training programs • Quality Initiatives Specialist provides support for internal quality programs and national accreditation • Strong relationships with NAEYC & state licensing • Proven health and safety policies and procedures • Strong emergency preparedness and disaster-recovery plans • Largest facilities team in the industry to ensure safety in all schools More programs accredited by The National Association for the Education of Young Children (NAEYC) than any other provider

  15. KLC offers childcare in partnership with a wide range of employers KLC operates 126 corporate or employer-sponsored centers • Clients include corporations, health systems, government agencies and educational institutions • Centers are typically free-standing and are located at or near the premises or campus of the employer-sponsor • Forty-two (40) Corporate Clients:AOL,ADP, Wachovia, Circuit City • Thirty-five (37) Health Care and Hospitals:Medco, Mayo Clinic, The Cleveland Clinic Foundation • Thirty-one (34) Government Clients:World Bank, General Services Administration, IRS • Eighteen (15) Educational Institutions:Stanford University, Penn State, University of Virginia

  16. KLC is the largest provider of before and after school programs KLC provides customized before and after school educational enrichment and recreational programs for school age and preschool children • In partnership with elementary schools • 633 programs in 21 states • Average tuition is $60-100 per week • Contracting school provides on-site space for program • Recent purchase (Nov. 2004) of EdSolutions, Inc. (ESI) operator of supplemental education services at 95 sites • ESI is approved to operate in 19 states

  17. KC Distance Learning serves over 23,000 students KC Distance Learning subsidiary operates accredited k-12 distance learning programs • KCDL founded in 1975 as a correspondence program • Keystone National High School offers full accredited high school program in all 50 states (private tuition model) • IQ Academies offers an online charter school in Wisconsin (state funded tuition model) • KCDL is accredited by several accrediting bodies, including: the Northwest Association of Schools, Colleges and Universities, the Distance Education and Training Council, and the NCAA

  18. KLC has a strong management team • Largest early childhood education company in terms of revenue and profit • Management team is led by includes experts in the field of education and experienced business professionals • Tom Heymann, Chairman and CEO • Extensive large chain retail management experience (Disney Stores) • Elanna Yalow, Ph.D., M.B.A., Chief Operating Officer • Extensive experience operating early childhood education centers • Extensive experience developing curriculum for early childhood education • Dan Jackson, CFO and EVP • Sharon Bergen, SVP Education and Training • Diane Colum, SVP Information Services • Dan Frechtling, SVP Marketing and Business Development • Eva Kripalani, SVP Legal and Business Affairs • Bruce Walters, SVP Real Estate

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