Daycare at home can be a rewarding career. You can have a positive influence on the lives of young children, and parents in your community can rest assured that their children are in good hands, caring, and capable when they are not with them.

If you have a genuine and deep love for children, and a lot of patience, kindness, and understanding, a daycare home business may be perfect for you.

Here are some of the many benefits of this type of business:

Increased demand. The demand for child care is projected to increase as mothers and fathers continue to work outside the home.

Emotionally rewarding. The early years are a crucial time in a child’s life. As a childcare provider, you can have a great influence on the lives of all the children in your care.

Stay home with your own children. This type of career, more than many others, offers you the possibility to enjoy time at home with your own children while taking care of others.

Starting a home-based daycare business

While it has many benefits, a home daycare is unlikely to generate large financial returns. So when going into this business, it is important that you understand why you are starting this business. And, of course, love of children must be paramount.

Any parent or caregiver will claim that being around children all day can be incredibly demanding. You’ll want to make sure you have a solid business plan before embarking on this type of career, and that starts with a lot of research.

Here are some of the questions to consider:

Will your community support a daycare at home? In other words, does your area need another daycare?

Will you be able to charge enough in your area to make this a profitable company (or at least to stay afloat financially)? What is the “current rate” per child in your area for daycare?

What are parents in your community looking for in daycare? Interview parents in your neighborhood and find out what characteristics they would like to have. What kinds of unique characteristics could you provide as a caregiver?

What kinds of changes will you need to make to your home and garden for this to work? What effect will this business have on your daily family life?

What are the regulations of your state and local government? You will need the requirements for the caregiver / child ratio, indoor / outdoor space per child, nutrition, and licensing.

What type of financial outlay would be required? As with any business, you will need to start with a solid business plan that specifically addresses income and expenses.

What is your philosophy of child care? How will you handle discipline problems? You should have a solid, written policy and procedures manual before you start operating.

What hours will you be open? What will you do when the children are picked up late?

What meals will you serve? What kind of sandwiches will you serve and when?

What will your daily routine be? What type of preschool curriculum will you offer? Start thinking about possible study units, field trips, and special guests now.

Are you certified in CPR? Regardless of whether it is a state requirement, you will want to make sure you have CPR certification and first aid knowledge so that you are equipped to handle anything that may occur in the course of your day with children.

What type of insurance will you need? Find out about liability insurance, as well as changes in homeowners insurance (for accidents that may occur on your property).

How will you market your business? Generally, this business does not require a lot of marketing. That is partly due to the high demand for quality child care services. And, for home daycare, your neighbors and acquaintances are likely your top prospects, so word of mouth is usually enough. Still, it’s a good idea to create a professional brochure detailing the philosophy, curriculum, schedule, and fees for the daycare.

What other ways could you structure your business? Before starting a day care home business, think about all the other possibilities in the child care industry. For example, in my city there is a very successful babysitting service where caregivers travel to vacationers’ homes or hotel rooms. Last time I checked, the service was charging over $ 20 per hour with a 3 hour minimum. Or consider a walk-in daycare that could provide during the times when childcare is most difficult to find (evenings and weekends, for example). If you find a very specific niche and fill it, you can usually charge more per hour.

If all this seems overwhelming, you can invest in a business kit with the essentials: forms, policies and procedures, sample business plans, as well as forms that you will probably need but may not immediately come to mind.

There is nothing like owning your own business. Enjoy the process of researching and creating your own!