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If you are a teacher, ex-teacher or simply have years of experience caring for children and have an entrepreneurial spirit, you could consider starting your own daycare, either at home or in a purpose-built facility. With employment expected to grow by 7% over the next decade, child care will become a stable career option. So if you really want to know how to start a daycare, you’ve come to the right place.
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How To Start Up Your Own Daycare
However, 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 remains financially or legally stable. When researching how to start a daycare business, you’ll need to do a lot of due diligence, pay close attention to licensing requirements, and make sure your facility and program meet your state’s health and safety regulations.
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If you are an expert at educating, training, supporting and centering large groups of young children, you should not be intimidated by the work required to open a daycare. Here’s what you need to know.
While each path to entrepreneurship looks different for every business owner, there are some steps every aspiring daycare owner should consider when it comes to the best way to open a daycare.
Before writing a business plan for your daycare, you need to decide what type of daycare you want to open. Consider whether you want to start a home-based daycare business or whether you want a more commercial setup; Depending on your choice, your city may require different licenses. You should also decide which age groups you want to focus on.
Next, you need to decide on a business entity, which will have a big impact on how you pay taxes and how your daycare business is run. Will you find a partner or start your own business? Additionally, you will also need to consider whether you need a business entity to provide you with certain protections. It may be a good decision to convert your daycare into a limited liability company, as the company will be liable if something goes wrong.
Starting A Home Daycare
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You may also decide to purchase a daycare franchise opportunity. This option will significantly simplify the steps you need to take to open a daycare.
Once you’ve narrowed down these details about your business, you can move on to the next step in your daycare business: writing a business plan.
This is a necessary step when starting any business and can require quite a bit of work, especially for those looking to get their business off the ground quickly. When you start writing your business plan, start by outlining everything you want to include.
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Your plan should include a summary, a business overview, a market analysis (including a needs assessment for businesses like yours), marketing and sales plans, and financial plans and financial forecasts. But don’t worry, you can always add 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 of these “how to start a daycare business” steps only to find out that there is no market or that there are already too many daycares in the area to get started. This is a viable business.
Your business plan should also include a budget. The costs associated with opening and operating a daycare can never be accurately totaled, but setting a budget will give you some parameters to work with (and give you peace of mind).
Also keep in mind that daycares can claim certain tax deductions, which can reduce your annual financial burden.
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It is also necessary to include a marketing plan. If you’re serious about starting a daycare business, you’ve probably been babysitting in your area for some time and have built a network of local parents. This is a valuable way to attract customers (aka word of mouth). Still, implementing even a basic marketing plan can help define and legitimize your business, and if you need to implement a waiting list as a result, great!
Your marketing efforts can be relatively simple and inexpensive. You can start by setting up a Facebook page for your daycare and creating a business website, making sure to include your contact information and some information about your business. If possible, plan to include photos of your facility and testimonials from satisfied customers.
If you’re a fan of social media, it doesn’t hurt to create an Instagram, LinkedIn and/or Twitter account to keep current and potential clients up to date with the latest news about your business. Of course, once you do this, be sure to get permission from a parent or guardian before posting photos of your child.
Simulation marketing techniques are also effective in this case. If possible, consider distributing flyers or brochures at nearby libraries, schools, places of worship, or any other local gathering place.
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You may not need a master’s degree in education to become a daycare teacher, but each state requires some combination of licensing and certification when it comes to how to start a daycare. Visit your state’s Department of Child Care Services (or equivalent agency) to learn about the training, experience, and certifications needed to legally operate a daycare.
For example, in New York State, child care providers must meet one of the following qualifications:
When looking for ways to start a daycare business from home or in other facilities, some additional requirements may often arise. For one thing, your state may require that you and any employees you hire be certified in cardiopulmonary resuscitation (CPR). Another safety point to remember is that you should have at least basic training in first aid for children. You and your employees may also be required to be fingerprinted and undergo a background check before being authorized to work.
Even if your state does not require you to obtain a license, you should consider doing so as your licensing course will cover all the boxes you need to check to operate a daycare in your state, including health and safety standards, proper food preparation, and the necessary requirements. Child/adult relationship.
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In some states, to obtain the proper license or registration to operate a daycare, you must first demonstrate that your daycare meets your state’s health and safety requirements.
So whether you choose to open a daycare in your own home or buy or rent a new property, you’ll want to make sure your facilities comply with zoning, fire, and health and safety laws. When it comes to how to start a home daycare, you may need to make modifications to your home to meet your state’s daycare requirements, so be sure to factor this into your budget.
Another requirement to obtain a license? Get insurance. In some states, you will need a license from the Department of Health and Human Services to operate your daycare, but to do so, you will first need liability insurance.
The exception is family day cares, which do not require insurance to be licensed by DHHS. However, people opening a home daycare should seriously consider purchasing small business insurance. When you run your own business, you’re always at risk of lawsuits, but that risk increases when you’re caring for someone else’s children, so protect yourself as much as possible.
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There are many types of insurance that cover daycares (general liability, workers’ compensation, property insurance, sexual abuse and harassment insurance, etc.), so contact an insurance broker to help you decide which coverage is best for you. your business.
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Getting a business credit card and business checking account early on can help you separate business expenses from personal expenses when you first start caring for your children.
Separating your personal and business expenses is crucial for several reasons, one of the most important being to ease the burden on you (or your accountant) during tax season. this is simply
How To Start A Daycare In Your Home
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