People who love to interact or taking care kids may find that open a day care business is their desired job. A center-based day care may require lots of efforts, budget, and also higher risks. Instead, you can consider start a home-based day care. How to start home-based day care? Read on the tips below.
Do some simple research about the needs of child-care services in your area. You do it by interview the local neighbors about child-care or looking on census from government data. Do some research also about the existing child-care business near your area that can be your future competitors. It can be influenced your business future run.
2. Develop Your Business Plan
Like any other business, the first to do before starting up a business is developing business plan. It’s very crucial to determine on how business will going to run. Business plan will be also looked when you try to obtain licenses or investment. The important elements you should include in the business plan are:
– The concept of your business
– The pathway and how your business will work
– Your market target
– Employee background and profile
– Financial budget
– Last, the content of your business plan should: straight to the point, simple but detailed, and show differences. The best business plan is not a long-pages document, but only about 20-pages document that already includes all your business details.
3. Think About Your Budget
Budget plan is another crucial part of business. It can determine the opportunity to succeed based on your budget availability. You financial plan should covers start-up, annual, and also monthly operating expenses. The expenditure should include:
– Licensing, inspection, and insurance fees.
– Medical checking, testing and clearance.
– Safety devices such as fire extinguishers, smoke alarms, first-aid kits, etc.
– Equipment for kids’ activities (toys, playground, or food)
– Wages of employees
– Legal service fees
Then, decide how you get the money. If you can’t cover all budget, you can try to get loans or grants from government.
4. Prepare the Location
As you decide to open a home-based child care, make sure your home has enough space for the business. Buy the needed equipment and other facilities that meet health and safety regulation.
5. Hire Employees
In different state, there are different ratio of child and staff, so make sure you check the regulation. For example, for one adult staff can take care every 3 kids younger than 2y.o and one adult staff for 6 kids older than 2y.o. Don’t forget to check about the health and criminal background on your employees.
6. Get Necessary Licenses and Inspection
Licenses are very important to legally open your business. Do health and safety inspection for you location. After that, contact your local county municipality to ask about the list of necessary licenses and follow the procedures. Don’t forget to obtain necessary insurance, tax obligations, and other legal structures.
7. Promote Your Day Care Business
Use several marketing ways such as fliers, posters, business cards, or online promotion. You can also start looking for nearest potential customers including your friends, colleagues, neighbors, etc.
8. Open Your Day Care
Now, you have been ready to start you home-based day care business. Kick it off!
If you have children at home, you can get double benefits. While taking care you own children, you can also get payment from taking care other kids. But, as you might know that interact with children can bring happiness and trouble at the same time. You will also take care of other people’s children. So, take lots of consideration before you starting up your day care business.