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Does anyone know if you start your own daycare if you have to start off in your own home before buying a building?

I am thinking of trying to start a daycare (open one up) I have wanted to since I was a kid

 
Anonymous

Asked by Anonymous at 9:59 PM on May. 4, 2010 in Money & Work

This question is closed.
Answers (6)
  • IraqiVetWife, what does your blog have anything to do with starting a childcare business?
    Anonymous

    Answer by Anonymous at 6:50 PM on May. 5, 2010

  • I would imagine that most day care providers that do in-home-care do so because they can't afford to buy a building (and pay all the other costs associated with that)

    VeronicaLee

    Answer by VeronicaLee at 10:00 PM on May. 4, 2010

  • If you take out a loan, do a business plan, have a down payment, good credit, and all of that, then I think it would be alright to just open up your own. I really don't think you need to do in-home first.
    lowencope

    Answer by lowencope at 10:12 PM on May. 4, 2010

  • I work at a daycare and preschool. My boss (the owner) had a home daycare for 20 years. It was her dream to open up a daycare center though, so she finally did. However, she has emptied her savings account, retirement, and she is barely able to pay the staff. She is behind on payments, and since she has been open, she has yet to receive a paycheck for herself. It's not that we don't have enough children, in fact it is the opposite, we have children on waiting lists for some of our rooms. The problem is there are so many government regulations and restrictions and these keep changing all the time. Opening a daycare is a big investment but in the long run it can pay off. If you have the money or are able to get a loan then I say go for it, but if you don't have the extra money right now, then I would start off with a home daycare.

    JeremysMom

    Answer by JeremysMom at 10:17 PM on May. 4, 2010

  • Check with your state and see what hoops you have to jump through for both. You can start up an out of home business first, but that requires a lot more money and business sense. There is a lot more you have to deal with when you're working with an out of home business. A lot more tax forms, licenses, inspections, etc. Depending on state it could be too much to do right from the start. Go to your local government's website to figure out that information.

    It takes more then the loan to start up an out of home business as well. You'll need a lot of savings for the downpayment of the building, savings to keep living while your buisness is starting up, etc. Also money to get the supplies needed to start the business. Make sure to do your homework and crunch those numbers before doing this.

    If you are business smart and financially smart you can do this. If not, then I'd stick to the at home business.
    JazzlikeMraz

    Answer by JazzlikeMraz at 11:08 PM on May. 4, 2010

  • I did it...click here to read my post about it.

    IraqiVetWife

    Answer by IraqiVetWife at 6:45 AM on May. 5, 2010

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