You want to start a day care but have never taken the bull by the horns? Let us assume you know nothing about the industry except that it involves children and you have dreamed about quitting your job and starting a childcare business. Well, I have just described my own situation 10 years ago before I started the one and a half year research that would culminate in the daycare I run today. Before you go running for the hills in dismay at the research time, allow me to cut short the research time a little with some pointers on how best to prepare for the exciting adventure that is starting a daycare business.
The business plan is, without doubt, the first and most important step. Every successful business starts with a well thought out version thus enabling the entrepreneur (you) to get a clear, overall picture of what your business will entail. This is the vital, unavoidable first step if you are to have any chance of understanding what it takes for your idea to succeed. Many people get to the business plan stage and no further due to a realization that the project is unfeasible for whatever reason. You really want to figure out the viability of your business before you start.
The business plan covers all vital elements of starting and operating a business, introduction / description, benefits, market research, key financial details and conclusion. I found it to be a great checklist of things to do as I worked my way methodically through each of the required steps. It forced me to consider, research and document every aspect of my potential business, propelled me to analyze in detail areas I might otherwise have glossed over (or ignored completely). Like a good teacher it provided the questions and ensured I filled in the blanks. There are many great business plan templates out there and I have listed some that I particularly like below:
www.sba.gov USA www.bytestart.co.uk UK www.teagasc.ie/startingyourownbusiness/template.htm Ireland
Talk to the experts next. Call your local licensing representative and have them come to your premises for a meeting. Find out what they will be looking for in terms of premises layout, contents, play area and general health and safety issues. They are the experts and responsible for granting your license so, you want what they want. Have them go through expected policies and procedures and get them to give you guidelines and tips on paperwork. Prepare in advance of this meeting and come armed with a list of comprehensive questions so you do not waste a great opportunity to absorb as much knowledge as possible.
When I was researching my business I received some of the best tips, hints and advice from other providers, in fact, I still make information gathering visits once a year and learn something new every time. Existing daycare owners are an invaluable resource for practical advice. Call up a couple of established providers (preferably not too close to your proposed venture, they might not be too thrilled with impending competition!), explain your situation and set up a day to go visit. People are usually delighted to help aspiring entrepreneurs and love discussing their own business. There is nothing quite like the advice of people who are on the ground, doing the day to day business.
ideas before they vacate your head (as they do mine). Ask questions, listen and observe. Notice daily routines, room layout and equipment, methods for dealing with behaviors, staff and child interaction, health and safety procedures, hygiene practices, peruse paperwork (ask for copies of the paperwork to help guide you when formulating your own). Find about the best methods of advertising, what suppliers you should use and the range of fees locally. Try to speak with the owner or manager, the staff and the cook and get a feel for each unique role. Don’t just ask them what they do but also ask for their opinion on how things could be better. You will gain an immense wealth of practical knowledge simply by asking these open questions.
These are just three steps you can take in pursuit of your dream seeing them through to completion will give you a fantastic head start in terms of researching your business. Your confidence in yourself and your ability to achieve your vision will peak and you will be propelled into further positive action. So, start that research and make that dream a reality.
10 years of running a daycare leaves Fiona Lohrenz with a lot of knowledge to impart. This she does on her website plus on her ‘Start a ChildCare Business’ DVD guide: StartChildCare.com You can find her at her website: ChildCareOnly.com
- Rene Sandan