Many potential Wahms think that starting an at home daycare business will be an easy way to make extra money and stay at home with their children. Owning a childcare business can be rewarding and does have many perks. However, the realities of this type of business are far from the ideal expectations of most people considering childcare.
If you have experience in child care or a degree related to the child care field, then opening your own daycare as a Wahm is a natural extension of your our of the home job. However, there are a few important distinctions between working for someone else taking care of children and running your own in-home facility.
The first point to look at is money. At home childcare businesses can be profitable, but it normally takes six to eighteen months for Wahms to see any substantial income coming in. This may not be a problem for you, and if you are committed to building the quality and size of your business, the start of your profitability can be on the low end of that scale.
It takes several months to a year to turn a daycare into a profitable daycare for many reasons. First of all, each state has its own licensed childcare requirements. Getting licensed to have a home daycare means attending classes, passing certification and having your home inspected. While you are going through this process, you can look into doing some unlicensed childcare for a few children to start building your business. Each state has its own rules for unlicensed childcare. You should take the steps, however, to get licensed because it will increase your clout in the eyes of parents and make it easier to get funding for your daycare.
It can also take a while to become a profitable daycare because of the start up costs involved. While you do have some baby and child items from your own children, there are many things that you’ll need to buy in order to make your home functional as a daycare. You’ll want to buy tables and chairs, art supplies, music CDs, games and other activities that the children can use while they are in your home.
Finally, it takes time to build up a list of children who attend your daycare. There are many home daycare centers to choose from in every town, and once parents find a good center they normally stay there long term. Finding new clients can be difficult, especially if you don’t take care of infants or babies. Getting clients can be easier when you are licensed, but to begin with you need to rely on networking with parenting groups, people at your church, people in your community and friends in order to build your business.
Despite the long start up time, many Wahms find that owning their own in home childcare center is a great solution to their work at home problem. There are many benefits to taking care of other people’s children. Your children will never be without playmates to entertain them. You’ll have access to many fun and exciting programs made especially for daycare business owners, including discounts on supplies. You may even be eligible for federal subsidies for food and diapers for your cares.
To find out if owning a home daycare is right for you, read up on the subject. Visit other home daycares and ask how those Wahms are enjoying their business. Find out what your state and local regulations are regarding licensed and unlicensed daycare. Once you’ve done your homework, you’ll know if owning a childcare is right for you.
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