| Drawing up a business plan for your daycare | | | | 3. Day-to-day operations of your daycare |
| business is mandatory, even if you intend to | | | | |
| operate a small home based daycare. Business | | | | Next you need to think about how you intend |
| plans are key decision making tools. It sets | | | | to operate your daycare centre. You'll need |
| the goals which the business hopes to | | | | to workout operational issues such as |
| achieve, reasons why it is achievable and the | | | | operating hours, the services you intend to |
| specific plans for reaching the goals. Most | | | | provide, curriculum development, course |
| of the goals in business plans lead to | | | | materials, the children's meals, contracts |
| financial goals such as profitability and/or | | | | and agreements etc. |
| turnover. Preparing a business plan draws on | | | | |
| a wide range of knowledge from many different | | | | If you are operating as a home based daycare, |
| business disciplines such as finance, human | | | | you need to determine if there are any |
| resource management, operations management, | | | | modifications to be made to your existing |
| and marketing and sales, etc. It may sound | | | | property such as fences, fire extinguisher, |
| like a mammoth task but if you were to break | | | | sharp edges, non-slip bathroom tiles etc? You |
| it down into smaller parts, it is actually | | | | should also consider purchasing liability |
| fairly simple. | | | | insurance to protect your property against |
| | | | accidents. |
| Here are the elements which you should be | | | | |
| addressing in your business plan: | | | | 4. Marketing your daycare business |
| | | | |
| 1. Regulatatory affecting daycare businesses | | | | You'll decide how you intend to market your |
| | | | daycare services. The pricing strategies, the |
| You will need to find out from your local | | | | venue selection for your daycare and how you |
| authority about the legalities of operating a | | | | intend to promote your daycare services. Will |
| daycare facility such as licenses and safety | | | | it be through flyers, brochures, banners, |
| regulations. In some instances, there are | | | | website listings, etc. It also details how |
| regulations on the maximum number of children | | | | you intend to use the internet to promote |
| you can provide care for as well as mandatory | | | | your services with the rage in internet |
| certifications which the owner would have to | | | | advertising. |
| possess such as Degree/Diploma in Early | | | | |
| Childhood Development or First Aid, CPR. | | | | 5. Managing your daycare business finances |
| | | | |
| 2. Managing human resource issues of your | | | | You will need to decide what your revenue |
| daycare centre | | | | model is. You need to sit down and list down |
| | | | your estimated expenses. Then, based on your |
| You'll need to think about human resources | | | | intended charges, calculate how many children |
| issues to determine how many staff you may | | | | you will need to provide care for to |
| need, what sort of qualifications you would | | | | breakeven. Anything more than that is profit. |
| like them to possess and how much you intend | | | | |
| to pay them. | | | | Each of the plans should have a short term, |
| | | | medium term and long term duration. |
| If you are opting for a home based daycare | | | | Developing a business plan not only helps you |
| business and will be the only person running | | | | to be clearer about the direction of your |
| the daycare operations, you will need to | | | | business, it is also very motivating as you |
| ensure that additional help is available on | | | | will know what your business will be like 3, |
| days when you are sick or if there is an | | | | 5 or even 10 years from now. |
| emergency. | | | | |
| | | | Happy planning! |