It’s no secret that daycare is a big business. With the cost of living rising virtually everywhere, many families are faced with the reality that both spouses must work which, in turn, increases the demand for quality, affordable daycare.
Like most things, daycare comes in many shapes and sizes; there are on-site daycare facilities subsidized by many large corporations, franchised centers, and in-home daycare in which one person cares for one or more children at a time.
In-home daycare differs from daycare facilities in that there is usually no formal education taking place. As a result, it may seem that running an in-home daycare is not much different than having a daily babysitting assignment. It is, in fact, a serious business. Indeed, there are several things you should consider before making the decision to open your in-home daycare.
First and foremost, you should familiarize yourself with your local rules and regulations. Chances are, there will be no rules to prevent you from caring for two or three children during the course of the day, however, if your client list grows to include six children or more, you may need to obtain a license or other type of permit.
You also need to realize that your clients will be depending on you to be there each and every day. As a result, if you think that extenuating circumstances such as having to care for your elderly parents may cause you to frequently miss work, this may not the business for you.
It is also very important to take the time to put any agreement you make with your clients in writing. Terms such as your rate of pay, the frequency at which you expect to be paid, and whether or not your will provide meals and snacks for the children in your care, should all be documented. Similarly, you may want to formulate a policy for when it is – and isn’t – acceptable for a sick child to be brought to your home. Finally, be sure to make provisions for time off for yourself – even home business owners get to take vacation!