The Ledger
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India views education as dignified work, but childcare as domestic help
“And the third biggest lesson for us was that in India, education is seen as dignified, but care is not. Ah, so care is seen as the helps, helps job.”
Women are inherently conscientious and need emotional security at work
“Women are inherently conscientious. What they need is emotional security in the place of operation.”
Preschools must operate like high-street consumer retail brands regarding accessibility
“So, you know, picking a spot which is easy to access, there is easy parking facilities, ah, that it's not a one-way system. Parents can get there and get out of there easily is absolutely critical. So for all practical purposes, we are like a high street brand…”
Preschools are hyperlocal businesses that cannot rely solely on word-of-mouth
“You know, my assumption coming in is that a school is something that grows by word of mouth. People say good things and other people come to it. But it is a very hyperlocal business. If you're opening in a center, Letting people know, ah, that you're opening i…”
Corporate offices cannot dictate frontline childcare service delivery
“And as a brand, we'd be very foolish to say sitting in one central office that we can dictate how the service is delivered. People on the ground have to feel empowered and enabled to do it on a day in day out basis.”
Investors step back when founders operate businesses with discipline
“I also think investors don't want To operate the business. As long as they get the confidence that you're operating the business, and add the principles that they have committed in turn to their, you know, partners, et cetera that becomes a smoother relationsh…”
KLAY operates 130 preschool centers serving about 7,500 students
“We have a 130 now, ah, with about seven and a half thousand students.”
Rapid childcare center occupancy is crucial due to high fixed costs
“It's a very high fixed cost business. So we have rentals, which is a fixed cost, people's salaries, which are fixed costs. So the sooner you fill the centers, More chances of viability of that center are.”
KLAY has operated 130 preschool centers and shut down only two
“We've had a 130 centers. We've shut two in the history of the company.”
KLAY raised institutional funding from Kaizen and Peepul Capital
“So when we worked with Kaizen, we wanted an educational fund. We said we're a new education company. How do we get resources from them? And then the second fund that we raised was from People Capital, which is a consumer fund.”
KLAY Preschools employs and pays salaries for over 2,100 people
“The doubts have crept in, you know, in terms of saying today we're responsible for 2100 people's salaries day in and day on.”
KLAY defines organizational success as scaling from 7,500 to 100,000 children
“So for me, the seven and a half thousand going to 10,000 going to a 100,000, ah, doing it consistently day in and day out and making that experience seamless for each parent as we scale is what I would define as success for the organization.”
KLAY's operational model boils down to cash flow, fixed costs, and EBITDA
“So for us, it's a high cash flow business. It's a high fixed cost business. It's an EBITDA valued business. So if we don't stay focused on these three you know, we will fail as a team and as every problem can be boiled into one of these parameters and we just …”