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