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Before setting up your own child-care business, you should consider the following six points:
Type Of Business
Before setting up a child-care business, you should think about the location from where you intend to operate. Some people like to work from home, while some like to set up their business in a different area.
A person intending to operate away from home can consider some commercial business options such as partnering with similar businesses in a franchise agreement.
Legal Points
Before starting, gather all information with regard to the business and also talk to your local business service center, to find out what kind of license and other legal formalities are required. Also ask about the cost of these licenses. You have to follow health code regulations and inspections, as well as adhere to the fire code. These policies depend on the location of your business.
Basic Education
You may need to gain special certifications and training to run a successful child-care business. This may include CPR, first aid classes and certification in child-care and child development. These certifications will legitimize your business.
Insurance
You have to find out about the insurance that you may need to cover damages or injuries that may occur during the operation of the business. If you plan to start your business at home, then you will probably have to increase the limits of your current policy or you may have to invest in a separate policy.
Market Check
You should initiate market research by calling up other childcare business centers around to see whether they have more clients than they can handle or vice versa. You should always identify a location where many parents need a childcare facility. Your location should also be easily accessible.
Surveys indicate that affluent and very educated families rely on childcare centers, much in the way that low-income families rely on their relatives.
Chains of childcare facilities have developed due to increasing demand. A number of chains also offer franchises. Programs can vary according to the services provided. The business can be day care, drop in care, extended care (where the parents leave town for a period of time) nighttime care or after school care. There are special day care centers for seniors too.
Starting a home day care center can cost anywhere between $500 and $5,000, depending on the equipment you need to buy and remodeling to meet license laws.
Figuring Out Your Needs
Before planning to start, you should sit down and think about finance requirements. You might also want to consider adding additional staff to help you take care of the children.
A successful childcare business can be initiated with careful planning and attention. You should always think of enhancing your business by thinking of new ways to give the children a better and safe home away from home.
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