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thank you , i just needed to know if daycare is a profitable business. i just love kids and i wish to open my own daycare after college. i just needed to know if daycare is a good business to start c:
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For me, it is an ok living. I am making the equivalent of what I was as an office assistant. If I factor in that I am not paying for child care myself, I'm better off financially. Would I be able to do this if my husband wasn't working? Maybe, but I wouldn't be able to find an entry level job paying what I make right now.Comment
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Yes and no. Equally.
Daycare CAN be a highly profitable business IF you have a good business plan and you follow that plan.
IMHO, one of the biggest negatives to having a successful child care business for many providers is exactly what you said above "I just love kids".....
.....NOT that that is a bad thing at all, just that a lot of providers allow their feelings or love of the kids to get in the way of enforcing their policies and the fastest and easiest way to get taken advantage of (and not paid) in this business is to not enforce your policies for fear of losing a family that you just love...
There are two very tricky sides to this business and the provider that can easily navigate the business end while maintaining the emotional side is a successful provider.
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^^ thank you for y'all help . Do y'all any ideas of a great business plan to make day care profitable ? Like hmmm any tips or helpful ideas to make a daycare profitable business ? I want to make daycare business as my career and job. And before I do , I want to make sure it will be a profitable business to make ? Do y'all have any tips to make it profitable and successful ??Comment
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Find out what the daycares around you are offering and then offer something unique. For example, I base my home daycare on what a parent would expect to find in a center. I do a curriculum, have someone come in and teach Spanish lessons 2x a week, we do crafts almost every day (a lot of parent pleasers, and free crafting), I do ZooPhonics with them, I serve mostly organic, but definitely no processed foods, I'm big on vegetables (parents dig that), and I have 7 acres with hiking trails for the kids.
For the outdoorsy parent, I talk up the outside. For the education-driven parent, there's curriculum. For the health conscious, food.
Figure out what you want your focus to be, and go from there. A lot of people on here do things a lot differently from me. You really have to know your area. My area is educationally driven. I have to have a curriculum or I wouldn't stay full.
Where in MI are you planning to open?Comment
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^^ where in Michigan ? I'm still looking for the location and still undecided.Comment
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^^ thank you the tips any recommendations in the west side ??
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If you want bigger, Grand Rapids. Smaller, Holland/Saugatuck/up to Muskegon area. All of the smaller towns are beautiful and on Lake MI. Get ready for awful and awfully long winters, though. You have to make peace with that.Comment
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Any recommendations during the winter ? Any helpful tips starting in Michigan ? Like is it a easy process or challenging ? Anything helpful would be great
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I am in California and I clear $102,000 a year before deductions.Comment
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