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I am thinking about quitting my day job and start doing at home daycare. I make good money at my current job and worry about finances if I switch. Does anyone have advice on starting an at home daycare and how long it may take to start making money?

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Anonymous

Asked by Anonymous at 5:33 PM on Jul. 5, 2009 in Money & Work

Answers (5)
  • You need to check with local and state laws regarding running a home business. For instance, will you need some type of certification or license? Also, are you planning on be CPR/first aid certified? What will you do about taxes? What kind of hours are you going to set, and what rates will you have? Will your homeowner's insurance cover any accidents in your home? Will your policy be null and void if you run a business from your home? Is there a market for it in your neighborhood? Many caregivers are shutting down due to the economy-- many more parents laid off and now don't need the extra help.

    If you're just going to be babysitting for a few hours after school, getting paid by check or cash, etc. you probably don't have to do much, but double check.

    I've always preferred private home daycare than at a school, so good luck to you!
    Busimommi

    Answer by Busimommi at 5:50 PM on Jul. 5, 2009

  • There are a lot and I mean a LOT of regulations that come along with opening your own daycare...you need to check state laws first. And study, its not impossible, but will take serious work on your part!

    Good luck!
    Anonymous

    Answer by Anonymous at 5:56 PM on Jul. 5, 2009

  • Do your homework first! You will have insurance and licensing expenses; you may need to purchase a lot of supplies and make modifications to your home. Any benefits that you currently receive, like medical and dental insurance, you will need to purchase on your own.
    rkoloms

    Answer by rkoloms at 9:04 PM on Jul. 5, 2009

  • An add on to my question above.....'m already licensed and have insuance covered by my husband. I just worry more about the money. Can we make ends meet with this new change.
    Anonymous

    Answer by Anonymous at 10:30 PM on Jul. 5, 2009

  • My sister has been an "in-home" day care person for over 20 yrs now. She makes b-tween 30K & 40K a year. She is licensed by the state & is inspected. She has to take education classes on CPR & such. I hve to admit she is "very good" @ what she does. She usually has a waiting list also b-cause she is now known in town & is listed on the state site.
    You can run ads, word of mouth is always great.
    I always reccommend to be registered. Even though it is a pain it will list your name.
    Also make a daily program. My sister has set times for her day w/ the kids. Play time, TV time, nap time, lunch....etc.
    It is better for you and it keeps the children structured to a day.
    gr-mom2

    Answer by gr-mom2 at 11:20 AM on Jul. 7, 2009

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