TOOTRiS is resolving the $47 billion Child Care crisis in our nation today. During the first five years of a child’s life, the brain develops by 90%, yet during this critical window in our youth’s development, there is a 44% deficit in age 0-5 Child Care in San Diego alone, either because there isn’t enough availability or because parents simply cannot afford it. If not exposed to high-quality early education programs, children do not develop the cognitive, social, or motor skills needed to reach academic readiness by Kindergarten, and schools will have to exert more funds and effort trying to catch the student up. Children who are exposed to high-quality early education and academically prepared by Kindergarten are more likely to continue their higher education and become productive members of society.
San Diego households making $75-100k a year fall into the median income bracket and are therefore unable to receive financial assistance. Because of this, working parents pay an average of 36% of their annual income on Child Care if they have two children. To put this in perspective, Child Care is considered affordable by the U.S. Department of Health and Human Services if it does not cost more than 7% of a family’s household income. Employers lose 1 in every 4 employees that go on maternity leave due to lack of Child Care, and 80% of the time it is women who sacrifice their careers and either reduce hours or drop out of the workforce completely to stay at home. The dual-income soon becomes single-income, lowering the family’s spending power even though the family’s expenses are increasing with the new child. This creates a domino effect on businesses, employers, and the local economy. On the provider end, Child Care and early childhood education professionals are opting out of the industry because of the low wage level, despite their positions playing a vital role in society.
TOOTRiS is a technology platform that is tackling all avenues of the problem by connecting parents with Child Care providers, augmenting capacity, and making Child Care more affordable for parents that fall within the low-median income bracket through a public and private investment fund. We are a Child Care movement that is elevating parents – especially women – to remain in the workforce, knowing that their children are safe in a TOOTRiS-vetted program.
Stay-at-home moms, teachers, nurses, nannies, and those with a passion for children will also have the opportunity to start their own home-based Child Care business, earning $100,000 or more a year. Those new providers will also have the benefit of TOOTRiS investing in their program, marketing and managing their professional profile, and filling their Child Care inventory for them on the SaaS application so that it is a profitable Family Child Care Home startup. TOOTRiS will even compensate for the provider’s own children to elevate the profession and incentivize better pay, better programs, and better education while bridging the gap of affordability all through technology.
Businesses will also be able to incorporate TOOTRiS into their benefits package. By doing so, companies will minimize the impact on their business’ revenue, operational costs, and bottom line, which is all caused by Child Care-related absenteeism. Employers will also create a more competitive benefits package to attract and retain top industry talent; improve employee morale and productivity by creating a company culture that supports working parents so they can have peace of mind and remain focused at work; and empower female employees by allowing them to return to the workforce faster and continue advancing their careers.