How to Start a Day Care Business Out of Your Home
As the number of working parents – be they single-parent families or families with both parents employed – keeps increasing rapidly, there is a proportionate rise in demand for quality day care services for children. This requirement has created an excellent business opportunity for those who really love children and want to start a day care business caring for them.
You can quite easily start a day care business out of your home with only a few weeks of planning and a modest amount of cash investment. On the other hand, if you prefer to start your day care business at a commercially located center, it will require much more of your time, energy and money. Before you proceed to start your home day care business, you should consider a number of things. First find out what licenses you require and from whom. Also get an idea about the requirements, costs and lead times. It is essential to know what types of training and certification you must have in order to start your day care business at home. A survey of the day care requirements of your community will help you plan your business.
As part of legal necessities, you must check on zoning and any other legal issues. You will have to estimate your startup costs and identify the sources of your funds. You must also plan for accident and illness prevention, and develop emergency procedures. Developing an appropriate schedule of activities for the kids is another task that you should undertake before you start your day care business. Insurance being a very important consideration, you also need to decide what type of coverage will suit you to adequately protect yourself and the children in your care. And your home will have to be equipped with things like stuffed animals, books, toys, games, shelves, and childproofing devices for obvious reasons.
As requirements for how many children you may care for are different in different states, it is wise to contact your local day care licensing office. Have a first aid kit and fire extinguishers ready for upstairs and downstairs. In case of a surprise inspection team, always keep it up to requirements. If possible, establish contact with “Save the Children”, which will provide you with free nutritional workshops, some excellent tips, and most importantly, reimbursement for your food expenses. You must keep accurate attendance records for each meal, and you may have to prepare the menu for several weeks in advance. Follow strict guidelines while you prepare your menu for the kids so that they receive the necessary nutrition.
In order to be professionally credible, select a business name for your home day care business. It will create a sense of respect among your clientele. Open a business checking account to prevent mix-up with your regular deposits and withdrawals. Of course, write yourself a weekly paycheck. While doing this, take into account how much you should save for supplies, groceries and, most importantly, taxes. Take the assistance of an accountant to show you how to do quarterly taxes. Maintain accurate count of your weekly income, expenses, and mileage. Keep all your receipts properly as you are likely to be audited by the IRS for running a day care business from your home.
