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published | 2/13/2018

Daycare Business Planning

Whether you are an entrepreneur who has a passion for childcare that strives to gain the necessary expertise, or a trained professional with years of experience already under your belt, opening a daycare center will present challenges.

Child care is a demanding profession. Before going down the path of opening your own business, caregivers should reflect to make sure they are prepared for any obstacles ahead, and that they are choosing this field for the right reasons. Considering questions about the logistics of your operation, financial goals, and your motivations are a helpful way to do this. At Procare, we strive to provide aspiring child care professionals with the necessary tools they will need to build a stable environment for their students to thrive.

Before opening a child care center, you need to identify what your mission is. To help with that, we have outlined a collection of five questions for you to consider before opening a daycare.

1. Do You Enjoy Being Around Children?

 This question requires more than just a yes or no answer. There is a “why” portion that will help you decide if opening a daycare is right for you. Young children are developing, and they require structure and attention to continue on the right path. If you are impatient or rigid in your routine, opening a daycare might not be for you.

Not only do you need to enjoy being around children, but you should be passionate about their learning and development for opening a daycare to be a wise business decision.

2. What Role Will You Be Playing in the Daycare?

 How you plan on structuring your daycare and how involved you anticipate yourself being in the day-to-day operations must be a factor in determining if opening a daycare center is right for you. To provide the children in your care with positive experiences and a healthy environment, you will need to perform in your role, whatever it may be, to the best of your ability. Similarly, surrounding yourself with qualified and able individuals who share your passion for child care will drive the success of your daycare.

3. Are You Ready to Provide What Children Need From Their Daycare? 

Answering this question goes hand in hand with the previous one we outlined. Knowing what children need from their daycare, and more importantly, what parents expect from a daycare, will help you identify the optimal role for yourself at the center, as well as who you will want to work with and hire. Providing for children is a demanding job that requires particular expertise and patience that isn’t exactly common.

Structuring your daycare from top to bottom will help reach those expectations. This includes curriculums for the children, development for staff, and a business plan to keep it all running.

4. What Are Your Financial Goals?

Opening any business can be a financial burden at first. There are a slew of costs that come with opening a daycare, including property renovations, staffing, and licensing, among others.

The reality of opening a center is that you need to get it off the ground and keep it running to create the impact on young lives that you strive toward. For that reason, this question has multiple layers to it. Basing your financial goals on the market and creating a business plan is essential. Consider what the demand is for another daycare within your community, and how you will separate yourself from the local competition.

5. How Will You Differentiate Your Daycare?

 Opening a daycare is a worthwhile venture if done correctly, but just like any business, your competition will drive demand and expectations. If nearby daycares have lengthy waitlists, your daycare can fill that void. From there, your daycare will need to distinguish itself from the competition. It could be your facilities that stand out, your educational requirements for staff, or your hours of operation. Whatever it might be, your new daycare will come up short if it promises to deliver on something as important as early childhood development and flops.

Final Thoughts­

There is a laundry list of questions that you should consider answering while kicking around the idea of opening a daycare center. Ask yourself if the passion for helping children during their early developmental stages is at the top of that list.

Learn how Procare helps child care providers run successful daycare centers.

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