Starting A Child Care Business

Starting and operating a child care business can be a very challenging, profitable and rewarding career. To be successful, you need to be dedicated and patient. You need to be able to work well with children. There is a high demand for child care services as more and more women entering the work force are giving up their traditional role of full-time homemaker and mother. There's been a large increase in the number of working mothers with pre-school children. This is a great opportunity for anyone considering starting a child care business.

In order for you to be successful you need to assess the need for child care services, prepare your business plan and assess you financial position.

1. STARTING A CHILD CARE BUSINESS - ASSESSING THE NEED FOR CHILD CARE SERVICES IN YOUR COMMUNITY.

The easiest and fastest way to do this is to speak to parents. You can arrange an interview with several families or your can conduct mail and telephone surveys. The information you get will help you decide on what type of service to offer:

a)  Family Care is a program that is designed to provide care for toddlers in the homes of other mothers.

b) Home Care is where a nanny or a baby sitter provides care and supervises children in their home.

c) Daycare and child development centers provide programs that are more concerned with the social, physical, emotional, and intellectual development of infants and children.

d) Infant care centers provide care for infants and toddlers, usually two years or under.

e) Before and after school care - programs designed for school age children.

2. STARTING A CHILD CARE BUSINESS - ASSESSING YOUR REASONS AND MOTIVATION

It is important that you assess your reasons and motivations for starting a child care business.

a) Why do you want to start a child care business?

b) How much experience do you have? Have you ever started and managed a business before?

c) What Skills do you have? (Organisational, record-keeping, supervisory, teaching, ability to handle emergencies, business experience, working with children, etc.)

d) Is your physical health excellent, good or poor?

e) Are you prepared to work long hours?

3. STARTING A CHILD CARE BUSINESS - PREPARING FOR BUSINESS
Preparing to open your child care business is an important step. Here are some things you may need to do:

a) Choose a name and legal structure (Sole proprietor, partnership, etc.?) for your child care business

b) Apply for a License or Registration. Most states require that child care centers be licensed.

c) Find a location or decide where you're going to operate from. Many child care providers operate from their homes but you may want to buy, lease or rent facilities for your daycare center.

4. STARTING A CHILD CARE BUSINESS - FINANCING YOUR BUSINESS
There are many sources where you can go to get financing for your child care center. But the funding you can have access to will depend on whether you're starting a non-profit or a for-profit center.

a) Private sources such as your own savings and loans or gifts from friends and family.

b) Loans from commercial Banks

c) Government Agencies such as federal state and local government offer special assistance to small businesses. For more information contact your local Small Business Administration office (SBA) or your state economic development office,

d) Grant programs are usually funded by private foundations, federal or state government agencies. Many for-profit businesses do not qualify for grants.

e) Other sources include credit unions and insurance companies.

5. STARTING A CHILD CARE BUSINESS - YOUR BUSINESS PLAN
There are many excellent books available about writing business plans. It's a good idea to buy a book about starting a child care business as these books usually include samples of business plans that you can adapt to your needs and use.

Copyright © 2007 Greg Miles. Click here [http://www.businesstartupsguide.com/daycare/] to get a complete business package to help you easily and quickly start your own profitable day care business: [http://www.businesstartupsguide.com/daycare/] or visit The Business Start-up Guide online [http://www.businesstartupsguide.com/].

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