Make Money Owning A Daycare
Description: Great with kids and entrepreneurial? Ever consider opening a daycare business? Here’s information on start-up costs, earning potential, & more.
With the instance of two-income families increasing dramatically, the need for reliable daycares is also on the rise.
Families with both parents working, or single parent families, need a place where they will know there children are safe and well-cared for while they cannot be with them.
This can be a difficult decision for many families. By starting your own daycare
business you will not only be taking advantage of a big trend in income-increasing opportunities, but will also be offering a helpful option to these families.
Benefits of Owning a Daycare Business
Make Money Owning A Daycare
If you are considering starting a daycare business, it is unlikely that you are thinking just of money
. There are many other benefits to these ventures that will help you make your decision.
• A daycare is a great use of a degree in early childhood education or child psychology.
They allow you to make a difference in a child’s life every day.
• Running your own daycare means you will never have two identical days.
Children are fun and unpredictable and each new day will be a new adventure.
• Daycares offer a lot of freedom and flexibility. You can exercise your creativity in choosing activities,
field trips and lessons that will keep the children entertained and learning.
• Staring your own daycare business can be a fantastic alternative for people wanting to have a reliable source of income
but also do not want to leave their children. You can simply care for your children at the same time as all of the others.
• Daycares are highly customizable. You can start very small caring for children by yourself or go all out and begin a multi-person large daycare.
Start-up Costs
Make Money Owning A Daycare
• Unless you intend to run your daycare out of your own home, which is a viable option for those only wanting a small operation
or do not have a huge amount of capital to invest, you will need a location. The cost of this can range drastically depending on the size and location of the building.
• You will need the proper equipment to aide in caring for children. This depends
on the number and age of children for whom you intend on providing care. For babies and very young children you will need
changing tables, cribs and high chairs. For older children you may wish to invest in play equipment and nap mats.
• A daycare requires basic supplies for every day functioning. These include hygienic products, paper towels,
snacks, drinks, art supplies, toys, books and simple first aid supplies.
• The best way to let others know about your daycare is to advertise. This may mean taking out newspaper space,
posting signs and fliers, and having business cards printed.
• Unless you are going to run the entire daycare alone, you will need to hire employees. The pay for
Make Money Owning A Daycare
these employees for the first few weeks should be calculated into start-up costs so that you are prepared even if business starts slow.
• Daycares require licenses that can be acquired through the state in which you intend to run your daycare.
The fees for these are relatively small but are absolutely necessary to operate legally and safely.
Earning Potential
From the smallest operation done out of a private home, to large centers providing
care for several hundred children, daycares can be a very profitable business when run properly.
• The amount you earn will be based on the number of children you enroll and the fees you charge.
Ensuring that your rates are competitive will encourage parents to enroll their children in your daycare.
• The rate for childcare generally depends on the age of the child. A baby is more time-consuming and labor intensive to care for than
an elementary-aged child and therefore will have a higher rate for care. This means that whatever age
Make Money Owning A Daycare
you optimize your center for will also affect your income.
• Taking advantage of grants and small business loans offered by your state and private sources can help
you get started quicker and more easily. This means that your profits will come sooner and, once you pay back any loans,
you will be able to enjoy a steady income more quickly whether it be your main source or a means to earn money on the side.
• The amount you can charge for childcare also depends on the qualifications of the care professionals you employ. You can have higher
rates if you employ leaders with certifications or degrees.
• You can also charge higher rates depending on the involvement and level of activity you provide in your daycare. A very active
daycare that goes on field trips and offers many opportunities for children to learn and develop throughout
the day will be more expensive than one that is less involved.
Caring for children is an extremely important venture. Starting a daycare business
can not only be fulfilling and rewarding, but provide a good income for you and your family. This is an ideal venture for mothers
or grandmothers used to caring for children who want to earn extra money while still staying with their own children.
