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If you’re a teacher, former teacher, or just have years of experience raising children—and an entrepreneurial streak—you might want to consider starting your own daycare, either from home or in a specialty facility. And with jobs expected to grow by 7% over the next decade, working in childcare is a solid career choice. So if you’re seriously wondering how to start a daycare business, you’ve come to the right place.
How To Start Up Your Own Daycare
As with starting a business in any industry, your passion for your craft—or in this case, your students—is not enough to ensure that your daycare business is sustainable, financially or legally. You should do your due diligence when starting a daycare business, paying close attention to licensing requirements and making sure your facility and program are in compliance with your state’s health and safety codes.
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If you’re a professional at raising, training, supporting and generally bringing together large groups of young children, you don’t have to worry about the work involved in starting a daycare business. Here’s what you need to know.
While every business startup journey looks different for every entrepreneur, there are a few steps that every aspiring daycare owner should consider when it comes to the best way to start a daycare business.
Before you start writing a business plan for your daycare, you need to decide what kind of business you want to open. Consider whether you want to start a home-based shelter business or want a more commercial facility—your municipality may require different permits depending on which you choose. You also need to decide which age groups you want to target.
Next, you need to choose a business entity that will have a huge impact on how you are taxed and how you manage your daycare. Will you have partners or start your own business? You should also consider whether you want a business entity that offers you some protection. Converting your daycare into a limited liability company can be a good move as the company takes responsibility if anything goes wrong.
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You can also choose to purchase a childcare franchise option. This option greatly simplifies the steps you need to take to open a living room.
Once you’ve narrowed down these details about your business, you can move on to the next step in starting a daycare business: writing a business plan.
This is one step you have to take when starting a business, and it can be a lot of work, especially for anyone looking to jumpstart their business. When you start writing your business plan, start by outlining all the things you want to include.
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Your plan should include an executive summary, a business overview, a market analysis with a needs analysis for a business like yours, a marketing and sales plan, and a financial plan along with financial projections. But don’t worry, you can always add to it as your business grows.
However, one thing you should include is market research. The last thing you want to do is go through all those “how to start a daycare” steps only to find that there isn’t a market for it or that there are already too many daycare centers around to do one. viable business.
Your business plan should also include a budget. The costs associated with opening and running your daycare can never really add up, but cutting your budget will give you some parameters to work with (and some peace of mind).
Also know that daycare centers are eligible for certain tax credits that can ease your annual financial burden.
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You also want to include a marketing plan. If you’re seriously looking into starting a daycare business, you’ve probably been caring for children in your area for some time and have built a network of local parents. This is one of the most valuable methods of customer acquisition (aka word of mouth). However, implementing even a simple marketing plan can help you define and legitimize your business – and if it requires implementing a waiting list, that’s great too!
Your marketing efforts can be relatively simple and inexpensive. You can start by creating a Facebook page for your nursery and creating a business website, making sure you include your contact information and something about your business. If possible, include photos of your facilities and testimonials from satisfied customers.
If you’re a fan of social media, it also wouldn’t hurt to set up an Instagram, LinkedIn and/or Twitter account to keep both current and potential customers up to date with your business. Just make sure that when you do this, of course, that you get permission from a parent or guardian before posting pictures of their children.
Analog marketing techniques would also work well here. If possible, consider distributing flyers or brochures to nearby libraries, schools, places of worship, or other local meeting places.
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You may not need a master’s degree in education to become a kindergarten teacher, but every state requires a combination of licensing and certification when it comes to starting a daycare business. Visit your state’s Department of Child Care (or equivalent) for information on the training, experience, and credentials you need to legally operate a daycare center.
For example, in New York State, a daycare manager must have one of the following:
You will likely find that there are a number of other requirements that usually come up when you are looking for how to start a daycare business at home or elsewhere. For example, your state may require that you and any staff you hire be CPR certified. Another safety point to remember is that you should be trained in at least basic child first aid. You may need to be fingerprinted and undergo background checks before you can get a work permit.
Even if your state doesn’t require you to get a license, you should consider it because your licensing course will cover all the subjects you need to check to run a day care center in your state – including health and safety rules, proper preparation of food, and the necessary child-adult relationship.
Checklist For Starting A Home Daycare » Hopping In!
In some states, in order to obtain the proper licenses or registration to start your daycare business, you must first prove that your daycare meets your state’s health and safety requirements.
So whether you decide to open your daycare in your own home or buy or rent a new property, you need to make sure your facility complies with zoning, fire, and health and safety laws. When it comes to starting a home daycare business, you may need to make changes to your home to meet your state’s childcare requirements, so be sure to factor that into your budget.
Another permit requirement? Insurance. In some states, you must be licensed by the Department of Health and Human Services to operate your day care, but you will first need liability insurance to do so.
The exception is home day care, which does not require DHHS-recognized insurance. However, those opening home daycares should seriously consider purchasing small business insurance. You’re always at risk of being sued when you run your own business, but that risk increases when you’re looking after other people’s children – so protect yourself whenever possible.
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There are different types of daycare insurance policies—general liability insurance, workers’ compensation, property insurance, abuse and assault insurance, and more—so talk to an insurance broker to help you decide which coverage is best for you. your business.
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Buy a business credit card and business checking account early to separate your business expenses from your personal expenses when you first start babysitting.
It’s important to separate your personal and business expenses for many reasons, not the least of which is to reduce the burden on you (or your accountants) when tax season rolls around. This is easy
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Hi, I am Erick Norman. A blogger specialist in Kitchen Design.