How to Open a Child Care Business

1. How to Open a Child Care Business Part 1 • Developing a Business Plan

2. Developing a Business Plan • Assess the need for child care in your community • Identify existing child-care businesses • Decide whether you will operate a home-based or center-based child-care business • Decide what kind of child-care business you want to operate • Make a budget • Choose a name for your business • Choose a type of business entity

3. Assess the Need for Childcare in Your Community • Your first step should be to research the market for Child Care service in your community. • Try some of the following • Interview several families and ask the parents what type of child care they could benefit from. • Look at census data for your community, including the number of working families with children of an appropriate age, the number of recent marriages, and the income distribution of those families.

4. Identify existing child-care business • Your next step should be to determine who your potential competitors might be. • Consider some of the following when evaluating your potential competitors: • What age groups are already being served? • What are the hours of the other businesses? • What types of child-care services are already on offer in your community? • How many of these types of businesses already exist in your community?

5. Decide Type of Child-Care Business • Decide type of Child-Care business. There are basically two forms of child-care businesses: • A business run out of your home • A business run at an independent location

6. Decide What Kind of Childcare Business You Want to Operate The next step is to decide what type of child care you would like to offer. Examine your motivations for going into the child-care business. • Have a look on the following questions for better understanding: • Do you want to offer care based around a particular faith? • Do you want to offer a learning environment focused on building or reinforcing skills? • Do you want to offer a space for children to come and play?

7. Make a Budget Make a Budget, Doing so will help you plan for the future of your business. • When making your budget, consider the following types of expenditures: • Licensing, inspection, and insurance fees. • Medical testing and clearance. • Safety devices (e.g., smoke alarms, fire extinguishers etc.). • Food, toys, and equipment for your planned activities. • Wages for prospective employees. • Advertising/legal/professional-service fees. • Rent, mortgage, and utility fees.

8. Choose a Name for Your Business One of the more important steps in the process is choosing a name for your business. Your name should be catchy, easy to remember, and should indicate the type of service you will be providing. You will need to check with the secretary of state's office for your state to ensure that your proposed name does not conflict with any other name currently on record with the secretary of state

9. Choose a Type of Business Entity There are several different types of legal structures for your potential business, each with its own benefits and drawbacks.  You should strongly consider speaking with a local attorney experienced in business formation/structure in order to get a good understanding of the different types of structures available to you before you choose one.

10. Design and Sources Designed By: James Smith (Childcare Consultant at Early Learning Management) Sources: http://www.wikihow.com https://www.google.com.au http://www.elm.net.au/services/childcare-consultancy-and-advisory

11. Contact us Please feel free to contact us, If you have any related query. Visit our office Early Learning Management2B 13-17 Upton Street Bundall,Queensland 4217, Australia http://www.elm.net.au/ info@elm.net.au 1800 827 234 https://www.facebook.com/earlylearningmanagement https://twitter.com/EarlyLearningM