How to start a Child Care Business

As a home-based child care provider you will be responsible for providing care, entertainment and meals or snacks for pre-school children in your home. Many career couples need caregivers to watch their children and though the income per child is moderate, caring for multiple children is the key for success in this game!

Difficulty: Moderately Challenging

Instructions

Things You'll Need:

• Start-up Cost: $2,500+
• Potensial earnings: $25,000 - $60,000.
• Typical Fees: $100 per child per week.
• Hidden Costs: Insurence/licenses/other fees.
• Equipment needed: Phone,creative toys, playground.
• Qualifications: Child Psychology recommended.
• Staff required: Part-time Assistants

1. GETTING STARTED
   Start your childcare business by first working for one in order to gain a good working knowledge of what it takes to make this business succeed.
   Then contact the National Association for Family Child Care for the latest ideas and guidance.

2. ADVERTISING
   Your clients will most likely be working parents and grand-parents of pre-school-aged children. You should offer your services to local businesses, who will then offer it to their employees. To reach potential customers, let your friends and neighbours know about your business. Contact local schools, place a small service add in the local newspaper and advertise your new business locally.

3. HOW YOU MAKE MONEY
   Price your services by the hour and the type of service provided. You may charge $2.00 to $2,50 per hour, with a maximum of 4 hours a day. If you serve meals, charge an extra $2.00 to $3.00 per meal or snack.
   You can also charge your clients a packaged price, such as $100.00 per week, for five 8-hour days, including meals. Check prices of local competing daycare centers to determine a competitive price for your sevices and set your prices accordingly.
   As mentioned earlier, the continuing trend of two-career families make childcare businesses a necessity. The opportunities are there! GOOD LUCK!!!

Tips & Warnings

• One important CAVEAT is to ensure that the parents sign some form of indemnity, in the event that accidents occur and to safeguard both your business and yourself from possible prosecution.