Is Home Daycare a Good Business?

More and more women choose to stay home with their children and raise them full-time. This has led to an increased demand for home daycare. If you’ve considered opening a home daycare service for working moms, you should keep a few things in mind.

Have a Clear “Niche” You Want to Serve

Just because you want to open a daycare doesn’t mean you should accept all clients that come your way. You need to figure out your target market and what type of service you will provide for them.

If your own children are preschoolers, you might want to focus on enrolling preschoolers to keep your own children company during the day. If you have experience as a Montessori teacher, you might want to open a Montessori-based home daycare.

The key is to have a clear focus for your business to attract the right clients – and keep them happy.

Things You Need to Get Started

Before you even make up a flier for your home daycare business, you must first care about fundamental business issues.

You need to check with your state’s laws on home daycare businesses. Some states have stringent regulations, while others are more relaxed. You need to make sure you comply with your state’s laws before operating your business.

At a minimum, these requirements will likely include having first aid and CPR certifications, a food handling permit, and a business license. The local requirements might consist of having a background check, fingerprinting, and a home inspection.

You should also check with your homeowner’s insurance policy to see if it covers any business-related activities in your home. You might need to purchase a rider or separate policy to protect your daycare business.

Another critical thing to consider is whether or not you have the right temperament for this type of work. As you know, small children can be a handful. You need to be patient, loving, and firm with the kids in your care. If you are not good with children, this business model is probably not for you.

Infrastructure and Activities

Your home daycare business will need some basic infrastructure, such as a safe place for the kids to play indoors and outdoors, a quiet place for naptime, a kitchen where you can prepare meals and snacks, and a bathroom.

You should also have a schedule of activities planned for the day, such as arts and crafts, outdoor playtime, music time, storytime, etc. The kids in your care should always be supervised, whether playing indoors or outdoors.

In addition, you’ll want to stock your daycare with the essential products and tools you’ll need to run your business. These items might include toys, art supplies, sippy cups, plastic plates, etc. Before you make any purchases, you’ll want to consider the age of the children you intend to enroll in your daycare.

Problems Solving

You will have problems. You’ll run into situations like the child whose parents said he was potty-trained, yet he was not. You’ll run into issues with difficult children and parents who are difficult to work with.

The key is to have systems to deal with these problems when they occur. That might include a contract that outlines the consequences for delinquent payments or a policy for what will happen if a child exhibits violent behavior. Having these systems in place can avoid some of the common problems that home daycare providers face.

Pricing & Promotion for Your Services

The final step in setting up your home daycare business is determining how much you will charge for your services and how you will promote your business.

When pricing your services, you need to consider the cost of running your business, such as food, supplies, and activities. You should also price your services based on the market rate in your area.

Once you have determined your pricing, you need to promote your business. The best way to do this is by word-of-mouth marketing. You can also create a website or social media page for your daycare business. You can distribute flyers in local businesses and post them in public places, such as libraries and community centers.

Parents will be happy to pay for your services if you have taken care of all the business basics and have a well-run operation. And, as your business grows, you can always hire additional staff to help you with the day-to-day operations.

In conclusion, a home daycare business can be an excellent option for WAHMs. Just make sure you do your research, create a business plan, and get all the necessary licenses and permits before opening your business doors!