A 5 Step Guide for Starting an In-Home Daycare

Do you love working with children? Want to own your own business and help your community? Have an entrepreneurial spirit and the drive to get things going?

Running an in home daycare might be a lucrative and fulfilling career path for you. Unsure how to get started? Follow these 5 steps:

Step One: Do Your Research

Before you start this business venture, take some time to really examine your resources: fiscal, physical, and emotional.

Sure, you love kids and love the idea of owning your own business. However, do you love getting the education required for childcare licensure? Do you love having to plan healthy meals and snacks for children, and tending to their early education needs?

You should also make sure your home has the space to accommodate your clientele. Different states have different requirements for this, so make sure you look up your specific state laws for further insight.

Step Two: Draft Your Business Plan

Once you’ve completed your research, you should sit down and draft a business plan. What community or market problem will your in home daycare help resolve? How will it accomplish this, not just differently, but better than all its competitors?

You also need to sort out your target customers, and how you’re going to reach them. Then, plan for how you’ll receive payments. Lastly, you’ll have to determine which metrics you’re monitoring for success, whether that’s dollar revenue or clientele base.

Step Three: Secure Funding

With your business plan in hand, it’s time to figure out your funds. Unless you’re fortunate enough to self-fund your business venture, securing funding means getting a business loan.

If you want to make your business a non-profit, you could always check for government grants and subsidies in addition to loans. But be warned, the application process for those is both rigorous and time-consuming.

Step Four: Find the Right People

Unless you’re a Supermom or Superdad who plans on running the entire business solo, you’ll more than likely need some extra staff. It’s crucial that you build consumer trust when getting started, so the more licensed, trained staff you can find, the better. Online job posting boards, like Indeed, ZipRecruiter, or Monster are your best friend here.

Once you have your staff, you’ll need to figure out what your pay structure for them is going to be. Weekly, bi-weekly, semi-monthly, or once a month: whichever you choose, you will need pay stubs for full-time employees and independent contractors.

Step Five: Advertise Your In Home Daycare

Here’s where you can put your sales and marketing expertise on display. Most businesses nowadays have the greatest reach through social media. That’s your best bet for advertising your new in-home daycare.

Word of mouth travels fast, especially in small towns. Word of Facebook travels faster and farther. Create clean, eye-catching content, and business will come.

Ready to Get Started?

Starting an in home daycare can be a tricky venture. However, in doing so, you’ll be providing a safe space for kids to grow, and filling a desperate need in your community. That alone should be worth the price of your investment.

If you liked this article, and want to get some more ideas for businesses you can run from the comfort of your home, feel free to check out our blog daily for more content like this!