Maven Business Plans

Pros and Cons of Starting Home Daycare Center

Pros and Cons of starting a Home Daycare Business

So, you took full advantage of motherhood by spending time with your little one. You are taking care of your baby and fulfilling his various needs. But if you’re a working mother, this favorable period may end soon. You may have to return back to your work.

The very idea of leaving behind your baby can be daunting for a mother. However, the daycare is an ace option for parents who, due to work constraints or other reasons, cannot live with their babies.

The term daycare center is becoming prestigious. This term can easily confuse those who want to open a daycare at their home. It can be confusing when you’re exploring how to start a daycare business. According to the statistic of the US Bureau of Labor: “The daycare business will get some of the most agile employment growth of all service industries through 2020”. This statistic is encouraging for those who’re considering starting a daycare business.

Types of Daycare

Let’s discuss some types of daycares that help potential owners to see what they’re looking for.

Certified Home Daycare: It is a daycare center that is organized at a person’s home. Usually, the owner of daycare lives in the home. Except for the certification and CPR classes, no educational requirements are required to own this business.

Licensed Home Daycare:  It is also run at the owner’s home. However, it’s standard, and rules are different from certified home daycare.

Daycare Center: This daycare center is run out at the commercial building. It usually has different rules to get a license than home daycares.

Childcare is part of being a parent. It is one of the many alternatives available to parents, is booming today. Home childcare has its advantages and disadvantages. Let’s discuss the pros and cons of the actual opening of home daycare.

What are the Pros of Home Daycare?

If you’re considering opening a home daycare, the chances are that you’re aware of some of its benefits. Let’s discuss some benefits that you’re not aware of.

Tax Breaks: Home daycare has a better Tax break than any other at home business. It can deduct the cost of a percentage of daycare households. Moreover, it also decreases the cost of food, gifts, toys, clothes, office supplies, transportation, and schooling as it relates to daycare.

Another great advantage of it is that if you’re using your whole home for daycare than your every home bill is tax-deductible.

Company of Children: If you love kids, then it’s a good line for you. Start this business and get paid for doing what you love.

Educational benefits: It’s a great idea to start pre-schooling or legitimate early education programs. By starting to teach projects in your child care, you can actually make money by taking classes.

Financial benefits: If you’re running a quality daycare with reasonable prices, then you’re bound to be able to make a living. Not only that, you’ll get funds.  The state has a fund program to pay for food of childcare in the form of a monthly check.

The Cons of Home Daycare Center

Here, we gonna discuss some points that are not so great. Some points are quite obvious. Others may give you a surprise.

No Sick Day:

If you’re a normal job, and you get sick, it’s not a big deal to call in and take a leave. However, if you’re a daycare owner, you can’t get sick leave. Don’t know why. Ok!

Are you going to call in all those mothers in sick that you can’t take their toddlers? Obviously NO!

So, you should have a backup plan to handle these types of situations.

School Standards: If you want to run your daycare effectively, you must have to follow some of the same standards as a school does. For instance, teaching religion in your daycare precludes you from accepting any government funds for the daycare. Furthermore, you’re also bound by law to uphold the privacy of your families and to report any suspected abuse.

Contagious or Infectious diseases and illness

Inviting a multitude of families into your home can create potential health issues for you and your loved ones.  Such as colds, flu, measles, lice, and chickenpox, etc.

No Privacy:

Dealing with all families in your community means your life becomes an open book. Cut to the chase, you’ve no privacy.

Consider all elements before devoting your time to get an advantage from the startup of a daycare center. Have you decided to startup home daycare? Well! It’s good. However, to make your business booming star in the industry, make a daycare business plan. So, put your idea into the paper to create a successful roadmap.

Create your Daycare business plan

What is a business plan for?

The business plan of your Daycare center fulfills a fundamental role. It is the only concrete element to put in the hands of your future investors. Therefore, it is essential in the search for financing.

Your Childcare business plan will also serve as a point of reference during the first years of activity, and it will allow you to compare the evolution of your business to the initial plan, and get back on track if necessary. Control of quality care may help you to create a child development milestone.

Whether you’re satisfied with your decision to make the right daycare services or still apprehensive, be devoted. Choosing the right business plan consultant can give you bang for your buck.

Your business plan must highlight the business opportunity. Moreover, it should describe the strengths of your project, as well as its potential profitability.

•    It should also have to answer your banker’s questions:

•    What are the rules to follow to open a home daycare?

•    Is the selected location promising?

•    How will you stand out from your competitors?

•    Where to find qualified personnel?

•    What is the funding need for the project?

•    What is the profitability potential of the project?

•    Etc.

It’s true when a person has to watch too many children, quality care may dips. That’s why the right-center prefers to keep the teacher-children ratio as low as possible.

Feel free to contact us to get more information about starting a daycare business.

Leave a Comment

Your email address will not be published. Required fields are marked *