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Krazy Dayz Nursery – a Dream Worth Fighting For

Krazy Dayz Nursery – a Dream Worth Fighting For

Business name: Krazy Dayz fully flexible daycare
Industry: Childcare
Location: Wisbech, Cambridgeshire

Background

Krazy Dayz children’s day nursery was set up as a family project to give Kate Thorpe and Shelly Bailey a new and optimistic focus in life.

Kate explains: “Both Shelly and I were looking for a fresh start, something positive that we could channel our energies into. Both of us had experience of childcare and there is a shortage of quality care in Wisbech so we decided that creating a lively nursery would be our goal.”

Both aspiring entrepreneurs had experience in the field that was to become their business’ domain – Kate had nine years’ experience working her way up to deputy manager in nurseries and Shelly had plenty of childcare practice looking after her nine-year-old daughter.

In 2008 they took on the 10-year lease of an old warehouse in Kirkgate Street, Wisbech, and began transforming it into a nursery. Their research showed there was a real need for nursery care in the area, so they approached the local council for support. Initially the council seemed interested in supporting their project through match funding, but this offer of financial help was later withdrawn. Unfortunately, their approaches to banks were also unsuccessful.

They were getting desperate. Shelly says: “At this point we had to sit and think whether to continue or cut our losses. The warehouse just wasn’t finished. Eventually we decided we had already put too much money in to just walk away.”

Then Kelly and Kate found out about Foundation East.

Process

“The organisation does not use credit scoring to make a decision, but instead assesses the business plan, cash-flow projections and plans for the future.” - Valerie Jarrett, Business Loans Manager, explains. “Even individuals without a credit history are able to borrow money from Foundation East, as long as they can present a sensible business proposition. We are able to take into account human factors like knowledge of the industry and a unique proposition. These intangibles can make all the difference to the success of business.”

Outcome

Kate and Shelly benefited from this approach and  were able to secure the final £7,500 to help them to complete their renovation.

Shelly says: “Foundation East has been very supportive. I can safely say that without their funding we would not be where we are today. There is no way we could have afforded to finish the building.

Where they are today

Krazy Dayz is a prime example of what determination, with a little financial backing, can achieve. The nursery caters for up to 44 children in three different rooms dedicated to babies, toddlers and pre-school children; they have a separate ‘sleep room’ and are the only nursery in the area to have a special ‘sensory room’. You can catch up with Kate, Shelley and their growing team at www.krazydayz.com