A home daycare can be a rewarding career. You can be a positive influence in the lives of young children, and parents in your community can rest assured that their children are in good, caring, and capable hands when they’re not with them.
If you have a genuine and deep love for children, and a lot of patience, kindness, and understanding, a home daycare business could be perfect for you.
Here are some of the many benefits of this type of business:
Increased demand. The demand for child care is projected to increase as mothers and fathers continue to work outside the home.
emotionally rewarding. The early years are a crucial time in a child’s life. As a child care provider, you can have a huge influence on the lives of all the children in your care.
Stay home with your own children. This type of career, more than many others, offers you the chance to enjoy time at home with your own children while taking care of others.
Starting a home daycare business
While it has many benefits, a home daycare is not likely to bring huge financial gains. So when entering this business, it is important that you understand why you are starting this business. And, of course, the love of children must be paramount.
Any parent or caregiver will tell you that being around children all day can be incredibly demanding. You’ll want to make sure you have a solid business plan in place before you embark on this type of career, and that starts with a lot of research.
Here are some of the questions you’ll need to consider:
Will your community support a home daycare? In other words, does your area need another daycare?
Will you be able to charge enough in your area to make this a profitable business (or at least stay afloat financially)? What is the “going rate” per child in your area for daycare?
What are parents in your community looking for in a daycare? Interview parents in your neighborhood and find out what features they would like to have. What kind of unique features could you provide as a caregiver?
What kind of changes will you need to make to your home and garden for this to work? What kind of effect will this business have on your everyday family life?
What are your state and local government regulations? You will need caregiver/child ratio, indoor and outdoor space per child, nutrition, and licensing requirements.
What kind of financial outlay would be necessary? As with any business, you’ll need to start with a solid business plan that specifically addresses income and expenses.
What is your childcare philosophy? How will you handle discipline problems? You will need to have a solid written policy and procedure manual in place before you open your business.
What hours will it be open? What will you do when the children are picked up late?
What foods will you serve? What kind of snacks will you serve and when?
What will be your daily routine? What kind of preschool curriculum will you offer? Start thinking now about possible study units, field trips, and special guests.
Are you certified in CPR? Regardless of whether it’s a state requirement, you’ll want to make sure you have CPR certification and first aid skills so you’re equipped to handle anything that might happen in the course of your day with kids.
What type of insurance will you need? Learn about liability insurance, as well as changes to your homeowners insurance (for accidents that may occur on your property).
How will you market your business? Generally, this business does not require much marketing. That’s due in part to the high demand for quality child care. And, for home daycares, your neighbors and acquaintances are likely to be your top prospects, so word of mouth is usually enough. Still, it’s a good idea to create a professional brochure detailing the daycare’s philosophy, curriculum, hours, and fees.
What other ways could you structure your business? Before you start a home child care business, think about all the other possibilities in the child care industry. For example, in my city there is a very successful babysitting service where the caregivers go to the houses or hotel rooms of vacationers. Last time I checked, the service was charging over $20 per hour with a 3 hour minimum. Or consider walk-in childcare that could provide during times when childcare is hardest to find (evenings and weekends, for example). If you find a very specific niche and fill it, you can usually charge more per hour.
If all of this seems overwhelming, you can invest in a business kit with the essentials: forms, policies and procedures, sample business plans, as well as forms you’ll likely need but might not immediately come to mind.
There is nothing like owning your own business. Enjoy the process of researching and creating your own!
