This study contributes knowledge about being principals in extended education. Interviews with 12 Swedish principals have been analyzed using deductive content analysis with analytical concepts from school improvement theories. Principals generally believe challenges are found in School-Age-Educare-Centers (SAECs') conditions, changing mission, status, and heterogeneous staff. The opportunities are described as the freer mission, the holistic perspective, and the staff's competence. Leaders need to gain legitimacy, act as pedagogical leaders, and instill courage. In the principals' perceptions of challenges, opportunities, and leadership roles, the school development aspects of structure, culture, and leadership interact and are prominent and essential.