Tips on Opening a Daycare Center

Video Transcript

"Hi, my name is Veronica Baragas with my WigglesandGiggles.com, and I'd like to share with you some tips on opening a daycare center. Now get ready to hold on to your horses, because this definitely is going to be a wild ride. Opening a daycare center is a lot of work, so some of the tips I can recommend would be to make sure that you have a plan, make sure that you have a business plan and goal setup for your self. If you have a rough draft, as you can say, I always go back to my rough draft. And I say it's a rough draft because it can change and it will change. And as you go along with the process of opening up your center, when you open up your center, those goals, those milestones are going to change, but you're always going to have a rough draft to go back to. So always remember why you're opening up your center, what are the objectives, what is your mission, and how are you going to get there. Definitely look into the financial aspect, because you may have all the ideas, you may have all the knowledge, you may have all the drive, but without that money you cannot open up anything, so start saving, because if you're looking for a loan, they're definitely going to want you to do a percentage, usually it's about 10 percent, so if you're looking for a 10 thousand dollar loan, if you're looking for a 100 thousand dollar loan, make sure that you have at least 10 percent in the bank that they are even going to consider looking at your business plan and your application and whatnot. Make sure you have a solid business plan, make sure that you know your market, make sure that you know where you want to go, and that you know what you're doing, this is not an easy task, you're going to be dealing with families, you're going to be dealing with parents, you're going to be dealing with employees, you're going to be dealing with state regulations, you're going to be dealing with all kind of outside vendors, food programs, I mean, you have a lot on your plate, so make sure that you have a plan, that you're detailed oriented, organized, and you that keep track of every single thing that you do, whether it's receipts, whether it's phone calls, contacts, appointments, get yourself a binder that you can keep and refer to, get yourself a day planner that you can keep track of your appointments, I mean, just stay well organized, stay focused. And also make sure that you take care of yourself. But do your research, look for your state regulations, and minimum standards, talk to professionals about what the ups and downs that they're going through, and what they're experiencing, check out the economy, what are parents- what can they afford and whatnot, I mean, there's just so many things that you can go to that entail in opening up a center, but just stay organized and make sure that it's really what you want to do."