Work From Home: How to Start a Home Daycare Business
- 2 hours on-demand video
- 10 downloadable resources
- Full lifetime access
- Access on mobile and TV
- Certificate of Completion
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- Learn how to set up your business legally and physically
- Learn how to maintain compliance with regulatory agencies
- Establish processes and procedures for efficient operations
- Learn how to keep track of income and expenses
- Have access to resources every childcare provider should use
- Adobe, Microsoft Word are needed. No other prerequisites required.
In this course, LaDonna will teach you how to start and operate a home daycare business. You will learn how to set up your business, market your services, track your finances, and operate efficiently. You will have access to tools and resources every childcare provider needs. If you have a love for children and are looking for a way to work from home, the childcare business is for you!
- People who love children and would like to work from home
- Those that are thinking about starting a daycare business, but don't know how
- Those who already operate a home daycare business, but need help with infrastructure
If you love children and you're looking for a way to earn money by working from home, learn how to set up and operate a home daycare business! You'll learn:
- How to set up a daycare business
- How to maintain compliance with regulatory agencies
- How to keep track of income and expenses
- How to access resources
- How to set your business apart from the competition
- How to navigate the licensing process
Operating a childcare business can be a rewarding experience. LaDonna will show you how to set your business up for success!
Some daycare providers choose to forego the licensing process. These providers are known as "license-exempt" and they can only care for a limited amount of children at time. This is a personal choice. You know what will work for you. In this section, learn the pros and cons to having a childcare license and not having one.
The SWOT Analysis will help you identify the strengths, weaknesses, opportunities, and threats for your business as well as for your competitors. Using a SWOT Analysis is a great way to determine what your competitive advantage will be. Use the SWOT Analysis to compare your business to your competitors and figure out what you can offer to make your business stand out in the crowd.
I've included a copy of the Parent Handbook I used in my daycare business. The handbook included a mission statement, daycare schedule, scheduled closings/holidays, policies, and a contract. You can use it as a guide to craft your own handbook. Be sure to check with your local Childcare Resource and Referral agency for guidance. Also check your daycare licensing standards, as a handbook may be required.
This lecture teaches you how to set your tuition prices. There are various methods to use. The most important thing to remember is to set your prices in a way that covers your fixed expenses and your salary. You may have to make some adjustments periodically, but never "low-ball" yourself. Doing that will train people to undervalue what you do.
Next to the licensing standards, the contract will be the most important document in your daycare business. It is a written agreement between you and parents that gives details as to the service you agree to provide and what parents agree to pay. Refer to Lecture 11 for an example of a service contract that is included in the Parent Handbook.
I've included a job description that I used for staff in my daycare. When your business grows to a point in which you need to hire staff, be sure to review the job description with them. Your staff are an extension of you. It's important to ensure that they follow your example of leadership. You can customize this job description according to your daycare business needs. Include the sentence "Other duties as assigned" to cover anything that is related that you may have forgotten to list.
The United States Department of Agriculture administers the Child and Adult Care Food Program. This program reimburses childcare providers for the nutritious meals that are served in their programs. One major requirement of the program is that only licensed providers can participate.
In this lecture, we discuss what you could potentially earn as a daycare provider. Keep in mind that you may not always be at full capacity. Client's life situations change all the time. You should have an idea of what you can potentially make and have a plan to reach full capacity as much as possible.
As a side note: ALWAYS SAVE MONEY. You never know when situation will change ...and they will change. You want to establish a cushion that will carry you in the slower times.
Keeping up with the money you earn and spend will be a key part of your business. I know you love the kids, but this is a business! Using a profit and loss statement will help you to understand how money is flowing through your business. It will also help you make adjustments, as needed.
In case you're wondering... yes, the title is my homage to the television show "Breaking Bad". Get to know what it takes to operate your business. How will you know if you are operating at a loss? How will you know if you are truly making a profit? Discovering your breakeven point and "sweat factor" will bring clarity and help you make business decisions.