Almost all parents are working nowadays. This reality opens up a high income opportunity for taking care of their babies or children while they are working or when they want to have their own free time. Determine your own abilities and gifts and see if you're suited to this type of service business. This holds even truer when working with children. Setting up a baby-sitting business or a daycare service is an excellent idea, provided you have your mind, effort and heart into it.
According to experts, the demand for baby-sitting and daycare services are on the upsurge and is likely to triple in the coming five years, the reason being the continuing need and the desire of young mothers to set a career. This business requires an ambiance and environment that is child friendly. And if you are worrying about competition, rest assured that in spite of large companies financing and operating day care centers for their employees, the larger part of working parents’ prefer baby-sitting arrangements nearer to their home.
Before moving forward with your plan, consider a few points that are going to add value to your endeavor, especially if you are thinking of it as a long-term business venture. Understand what makes this business a profitable one. Otherwise, operating with full enrollments but barely breaking even will not sustain your business operations.
Firstly, check the policies of your State Government. Certain regulations may give rise to exorbitant overhead costs. Next, plan out a schedule and how you'll be able to meet your clients’ demands. Allot a minimum space per child (inside and outside), arrange for their meals, and appoint a licensed teacher and a licensed nurse. Start small even if you have a ton of money to invest. Once all those things are taken care of, you are ready to run this business.
What do you need to start this business?
- Compassion, patience and a true love for children
- Licensing and permission
- A space to set up the service
- A qualified teacher and nurse
- Proper advertising strategies
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