| Before setting up your own child-care | | | | increase the limits of your current policy or |
| business, you should consider the following | | | | you may have to invest in a separate policy. |
| six points: | | | | |
| | | | Market Check |
| Type Of Business | | | | |
| | | | You should initiate market research by |
| Before setting up a child-care business, you | | | | calling up other childcare business centers |
| should think about the location from where | | | | around to see whether they have more clients |
| you intend to operate. Some people like to | | | | than they can handle or vice versa. You |
| work from home, while some like to set up | | | | should always identify a location where many |
| their business in a different area. | | | | parents need a childcare facility. Your |
| | | | location should also be easily accessible. |
| A person intending to operate away from home | | | | |
| can consider some commercial business options | | | | Surveys indicate that affluent and very |
| such as partnering with similar businesses in | | | | educated families rely on childcare centers, |
| a franchise agreement. | | | | much in the way that low-income families rely |
| | | | on their relatives. |
| Legal Points | | | | |
| | | | Chains of childcare facilities have developed |
| Before starting, gather all information with | | | | due to increasing demand. A number of chains |
| regard to the business and also talk to your | | | | also offer franchises. Programs can vary |
| local business service center, to find out | | | | according to the services provided. The |
| what kind of license and other legal | | | | business can be day care, drop in care, |
| formalities are required. Also ask about the | | | | extended care (where the parents leave town |
| cost of these licenses. You have to follow | | | | for a period of time) nighttime care or after |
| health code regulations and inspections, as | | | | school care. There are special day care |
| well as adhere to the fire code. These | | | | centers for seniors too. |
| policies depend on the location of your | | | | |
| business. | | | | Starting a home day care center can cost |
| | | | anywhere between $500 and $5,000, depending |
| Basic Education | | | | on the equipment you need to buy and |
| | | | remodeling to meet license laws. |
| You may need to gain special certifications | | | | |
| and training to run a successful child-care | | | | Figuring Out Your Needs |
| business. This may include CPR, first aid | | | | |
| classes and certification in child-care and | | | | Before planning to start, you should sit down |
| child development. These certifications will | | | | and think about finance requirements. You |
| legitimize your business. | | | | might also want to consider adding additional |
| | | | staff to help you take care of the children. |
| Insurance | | | | |
| | | | A successful childcare business can be |
| You have to find out about the insurance that | | | | initiated with careful planning and |
| you may need to cover damages or injuries | | | | attention. You should always think of |
| that may occur during the operation of the | | | | enhancing your business by thinking of new |
| business. If you plan to start your business | | | | ways to give the children a better and safe |
| at home, then you will probably have to | | | | home away from home. |