Starting a child-care business is no small feat. It requires careful planning, budgeting, marketing, and management to succeed. In her book, The Basics of Starting a Child-Care Business, Marnie Forestieri, CDA, offers invaluable insights about what it takes to open a successful child-care business from day one. This article highlights Marnie's advice, giving you a clear picture of what it takes to plan, develop, and launch your child-care business.
As more parents and families enter the workforce, either remotely or out of the home, and with a growing awareness of the importance of early childhood education, the demand for quality child care businesses is rising. High demand leads to long waitlists, making it difficult for families to secure care when they need it.
Your desire to open a child-care business is what families need today! While you might have a solid understanding of child development and daily classroom teaching requirements, the more knowledge you have about the business side of childcare, the more efficiently and effectively you can operate your center once it is open.
There are many reasons businesses fail, but some of the main reasons are a lack of a business plan or marketing plan, insufficient funds or capital, poor leadership, poor location, and lousy customer service. Before you open the doors to your new child-care business, you must lay a solid foundation for business success.
These steps can help you turn your passion and business ideas into a successful child-care business that serves children, parents, and families in your community.
Before you begin thinking about classroom design and securing funds for a new build, you first need to decide on the vision and mission of your new child-care business. Based on market research, determine who you want to serve, where you plan to operate, and how you will manage your business to meet young children's and your community's needs.
A business plan will help you navigate opening a new child-care business. These plans lay the foundation for how you will achieve your goals and overcome any obstacles that could prevent you from opening or staying open. With a business plan, you can define your vision for the business, market segment, business model, financial goals, costs associated with operation, marketing plan, and more.
Research the requirements for child-care licensure in your state so that you have a clear picture of what you will need in place before opening your doors. If you plan to build a new facility versus using an existing residence or establishment, you may need to obtain permits or inspections before breaking ground.
Whether you are starting an in-home child-care program or a multi-site franchise, you will need furniture, a curriculum, and educational materials to support the growth and development of young children. Kaplan's Classroom lists can help you create a starting budget for materials and give you an idea of the basic furnishings and supplies you will need in your classrooms.
Financial planning requires more than budgeting for startup expenses. To successfully open a child care center, you need to determine your startup budget, including the cost of educational materials and furnishings, down payments, funding sources, site rental or mortgage payments, profit projections, and other operating expenses.
The secret to opening and operating a thriving child-care center is your staff and your organization's leadership. Larger centers typically hire a director, assistant director, administrative assistant, teachers, cooks, and other support personnel. Smaller centers may only need to hire a director and teaching staff. Creating an organization chart will help you establish your role in daily operations and inform you of the staffing positions you must fill before opening.
That's right, even before your child-care business opens, you need to consider how you will attract families and build trust in your community. A website, social media, and even local advertisements can help you develop trust and awareness during the startup phase of your business. Remember, parents and caregivers enroll their children in facilities that provide exceptional care and educational experiences. So, highlight your curriculum, classroom layouts and materials, and teacher credentials when marketing your child-care business.
Turning your passion for early childhood education into your purpose for starting a child-care business will guide you through the startup phase of this exciting journey. As you can see, there are many considerations and tasks to complete before you even begin enrolling children and providing quality care options in your community. In the book The Basics of Starting a Child-Care Business, you will find practical solutions that will walk you through each step of planning, developing, and launching your child-care business.