The demand for day care is on the rise due to the increasing number of women getting employed and leaving behind their traditional role of staying at home and watching over their kids full time. How to start a day care and run it successfully is a question asked by most of the women who would like to be self employed. A day care center is an establishment which takes care of children (usually not of school age) while their parents are away at work. Day care is run in both commercial buildings or in the business owner's home. The simplest way to find out the feasibility of a day care business in your community is to visit the parents directly in your locality and find out their opinions. Even Churches or community gatherings can be an ideal opportunity to meet parents and discuss your proposals.
Once you establish the demand then you should obtain a business license. Each country has its own set of rules and regulations guiding the setting up of day care centers. In most states in the US a license would cost you up to $500.
The availability of childcare license mainly depends on where you live. So it is advisable to contact your local child care licensing office before starting your business. Most countries require you to have a high school diploma and a first aid training to obtain a day care business license. In certain cases there may be an inspection fee too, particularly if you are taking care of infants or if the number of children is high. If you are operating outside of your home then it is advisable to check with your landlord whether an additional insurance coverage is needed. The amount of insurance depends on the number of children, facilities offered and the number of employees.
If you are setting up a day care business at your home the start up cost would definitely be lesser. If you are renting or leasing a building then it becomes a little steeper. You will need to pay for licensing, insurance, furniture, cribs, changing tables, vacuum cleaner, washer, disinfectants, toys and books. Then there is the cost of the employees' salary. You also need to take care that your facility has all the necessary safety equipments like smoke detectors, fire extinguishers, first aid kits and electric socket covers to keep the children out of harm's way. Most of these things should be there even before you start your business. So these all adds up to the initial start up cost. The cost of the equipment can be upward of $10,000 approximately.
If the number of children is high then you will require additional bathrooms and probably a kitchen. Additional facilities can be added once you become operational and the money starts coming in. Before you officially open your business you need to put away some for the utility bills, marketing expenses and the general upkeep. Detailed records of the expenses and income should be maintained for tax purposes. Also certain countries ask the day cares to maintain the health records of the children enrolled. There is a misconceived notion that a day care business can be started with a thin budget. It is wrong. You definitely need a modest capital to run a successful day care business.
Meeting the needs of the children is quintessential for a successful day care business. Be it their emotional needs like attention and social interaction or their physical needs such as safety, sleep and hygiene. And one of the most important things would be to manage the child's separation anxiety. You should lay down a clear cut policy and convey it both to parents and the employees. The more business like you are the greater is your earning potential. Child care is a natural thing for women and you can be more creative and innovative in helping the child grow. As in any business providing quality service is the best way of marketing. Once you establish yourselves as a trusted and efficient day care provider then you can earn handsomely.
The average gross annual income of a day care owner is estimated to be $47,000. Most of your expenses as a day care business, including your home heating bills, are tax deductible. If planned and managed well a day care business would be extremely successful both financially and emotionally.