Starting a child care business involves obtaining an appropriate location, taking care of licensing and insurance requirements and developing a financial plan. In addition, a child care business must hire the right staff and develop a marketing plan to reach out to potential clients.Continue Reading
Entrepreneur points out that finding a location for a child care center starts with determining the target market. Parents are more likely to use a child care center near their workplaces or homes. It is also possible to use a family home as a child care center in most cities. Developing a marketing plan to reach the target population involves understanding what the child care needs are, what services are already offered and what the new child care center can offer that makes it attractive.
The U.S. Small Business Administration explains that child care centers need fire, theft and liability insurance. Each state also has its own licensing requirements, which must be met before a center can open.
While government loans and grants are available to help child care centers get started, it is important to develop a viable financial plan. Setting rates depends on the center's overhead and the number of children it can accommodate. Hiring staff who have a proven and safe record of working with children is key to getting a child care center off the ground; the center's owner must also be aware of all government requirements regarding child care staff, including child to staff ratios.Learn more about Managing a Business