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10 Steps to Starting up a Child Care Business

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Download a copy of the entire e-book for $9.99 at http://10stepstostartingupachildcarebusiness.blogspot.com/

Download a copy of the entire e-book for $9.99 at http://10stepstostartingupachildcarebusiness.blogspot.com/

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  • 1. Table of ContentsIntroduction-My storyStep 1- Is a Child Care Business the right business for you?Step 2- Where will you start your Childcare Business?  Unlicensed Home daycare (caring for 4 children)  Licensed Home daycare (up to 10 children)  Child Care Center (more than 10 children )Step 3-Structuring/Insuring the Business  Sole Proprietor, Limited Liability Corporation  Policies (Staff Handbooks, Parent Handbooks, Curriculum, etc)  Naming the Business  InsuranceStep 4-Asseessing the need for childcare  Contact local childcare resource and referral agencyStep 5-Funding your business  Your money, grants, Loans, credit card, etc.Step 6- Equipment needed for a Home Daycare  Changing table, cots, cribs, etc.Step 7- Equipment Need for a Child Care Center  Class room materials/equipment, office supplies, food service items, etc.Step 8- Budget for your Business  Monthly income, expenses, operating cost, profit/loss, etc.Step 9- Create a Business Plan  Marketing plan, philosophy, key operators, business goals, etc.Step 10- Time to Take Action! 10 Steps to Starting-up a Child Care Business © Copyright, 2011. Shiketa Morgan www.childcarebusinessowner.com
  • 2. My StoryIn the fall of 1998, an idea came to me, “Start a Daycare.” Immediately after thethought entered my mind, I rejected it. I said to m self, NOT A Daycare. I stillbelieve to this day that the thought was an idea sent from God, because I had noprior childcare experience. In fact, I only had six years of experience as a MedicalAssistant.Weeks after the thought of starting a daycare entered my mind; I decided to give ita try. I placed an ad in the local paper and two-weeks after placing the ad, all of myenrollment slots were full. So, I set an opening date of December 27, 1998 and Igave my employer a 30-day notice.It took so much faith for me to leave mycareer as a Registered Medical Assistant tostart a daycare in my home. There were Opening a Child Carethree-reasons why I decided to start a daycare Business is one of the bestand they are as follows: decisions that I have ever made in my life. 1. I was tired of driving 54 miles a day to work 2. I was wanted to stay home with my children 3. My paycheck was the same every two weeks and I needed to make a changeAfter my decision was made, I went out and bought equipment and materials formy daycare with only $600.The first day that I opened the daycare, I was very nervous because mothers trustedme with their precious little ones and I wanted to be the best childcare provider thatI could possibly be.As my neighbors, family and friends learned that I was operating a childcarebusiness, I was inspired to go from an unlicensed provider to a licensed familyhome childcare business.In February 1999, I applied for a childcare license and a special use permit tooperate a daycare caring for up to ten children in my home. 10 Steps to Starting-up a Child Care Business © Copyright, 2011. Shiketa Morgan www.childcarebusinessowner.com
  • 3. The licensing process was not easy, but it was well worth the efforts of modifyingmy home to meet the local licensing regulations. The toughest part of the processwas getting the approval of one of my neighbors.In the municipality where I lived, I was required to obtain consent from at least75% of my neighbors. After two public hearings, I was granted a special usepermit in March 1999.In April 1999 I received my license to operate a licensed family home childcarebusiness, caring up to 10 children age’s 6-weeks-to 12-years of age.The entire process was amazing and a great accomplishment. I must say that Iappreciate my husband and children for givingup their home for families in our community. Furthering my educationOur entire living room and dining room was took my business todedicated to daycare space. In fact, my another levelhusband finished our basement, so that wecould have family space and an additionalbedroom on the lower level.In 2001, I saw the need to further myeducation, so I enrolled in the local communitycollege childcare field base program.This program transformed my thinking and inspired me to improve my daycare.Through the program I obtained 12-college semester hours in early childhoodeducation. The program was so beneficial to me, that I decided to add moreequipment and materials. The business went from a daycare to a preschool and Ichanged the name from Morgan Daycare to Learning Days.My instructors, Linda Freud and Genie Edward coached me, into providing qualitydevelopmentally appropriate practices in my daycare. As I began to learn manynew practices, I wanted to go to another level.That next level was Accreditation. In 2002, I applied for NAFCC accreditation andwas awarded accreditation in 2003, right before I expanded into a childcare center. 10 Steps to Starting-up a Child Care Business © Copyright, 2011. Shiketa Morgan www.childcarebusinessowner.com
  • 4. I moved into my childcare center in April 2003, which I currently still operatetoday. Furthermore, after operating my center for 8 years I decided to help othersstart-up and manage their daycare businesses through books, articles, start-upconsultations, webinars and classes at my center.After reading my story you may have noticed that starting up a childcare businesswill take the following:  Sacrifice  Determination  Hard work  The support of your family A Child Care Business is all  Plenty of energy about the kids and their  Faith! family childcare needs The entire e-book will beI hope that my story has inspired you to go available June 17, 2011 forahead and start your daycare business. The $9.99original reason that I started my daycare wasabout me, however as I operated my business, I discovered that the business is allabout the kids and their family childcare needs.So, if you are ready to serve the families in your community, with the attitude of aservant and be committed to providing families with the best care possible; Ibelieve that you are 80% ready to start a childcare business. The other 20% is allin how you run your business! 10 Steps to Starting-up a Child Care Business © Copyright, 2011. Shiketa Morgan www.childcarebusinessowner.com
  • 5. Is a Child Care Business the Right Business for You?You may have already made your decision to start a childcare business. However,before you make your final decision, ask yourself the following questions: 1. Are you self motivated? 2. How much knowledge do you have about running a childcare business? 3. Are you will to get additional training or pursue child related college education? 4. Do you follow rules and regulations very Before deciding to go into well? business for yourself, you 5. Do you love caring for others? should make careful and 6. How is your decision making? honest assessments of your 7. Are you physically able to work 12-hours strengths and weaknesses days if required of you? as a potential business 8. How is your mental and emotional health? owner. 9. Are you organized? ~ First Children’s Finance 10.Do you know how to effectively manage money? 11. How will you finance your business? 12. Are you creative? 13. How is your attitude? 14. Are you willing to sacrifice your family home? 15. Do you prefer a commercial location away from your home? 16. Do you supervise others well? 17. Have you developed your leadership abilities? 18. Does your spouse or family support your decision? 19. Who will be your business mentor during this process? 20. Are you committed to being a life- long student of Business including; reading business books, magazines, attending seminars, etc? You may find that you have several areas of strength and weakness, but that’s ok.That’s why I included the question, Are you committed to being a life- longstudent of Business? As long as you are a business owner, the learning never 10 Steps to Starting-up a Child Care Business © Copyright, 2011. Shiketa Morgan www.childcarebusinessowner.com
  • 6. ends! I suggest that you take a day and reflect on the questions above, writedown your answers in the space below to help you to evaluate if a childcarebusiness is the right business for you:_________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ Feel free to print several copies of this form 10 Steps to Starting-up a Child Care Business © Copyright, 2011. Shiketa Morgan www.childcarebusinessowner.com