This video would have set itself apart from other videos like this by providing a sample budget. Not with all the information needed but enough for people to see that you have exact knowledge they need and to pay to book you for a consultation.
As business owners, our expenses are more than just payroll. In doing your calculations, make sure you ask your boss how is is the rent/mortgage on a commercial property, insurances, utilities, employer taxes, property taxes, licenses, trainings, benefits, food, disposable supplies, equipment, legal fees, and so on and so forth. Often times we make the mistake of assuming rather than asking for the facts, respectfully. If you feel like you’re being paid unfairly, respectfully ask your boss about it. The truth is, in most places child care is expensive, yes. Parents pay a lot, however if providers are not aware of exactly how much they should be charging based on their program’s budget and not the market rate, that money often barely makes them break even. I was not able to pay myself at all for the first two years that I operated my center, and when I finally was able to, I had paid some staff more than I even paid myself. So comments like this frustrate me because you never know what a child care business owner is going through.
That first part caught my attention lol! Husband thought it would be a great idea for me to open up my own daycare at home. We live in a small apartment with our 2 year old son and was hoping to have up to 3 kids at most to care for. Trying to get as much information to gather to make sure this is something i really want to do. Plus I’m afraid of putting my son into daycare. I’m just not ready for that right now since we are in the process of speech therapy for him also. Thanks for the video girl!
Thanks for watching! Many child care providers start within this business for that same reason - wanting to provide quality care for their own children. Good luck with everything and let me know if you need some guidance!
You probably don't need a license if you have less than 6 children in your own home. Check your state requirements also, your state will have a small business developement wing that can help you if you want to scale to something larger.
To me the daycare resources pay $3.00 and hour for a house licensed childcare. The kids are in my care 10 to 12 hours a day. The minimum wage in Il is 8.25 per hour. It means the Il goverment not pay a minimum wage to a Daycare provider.
You are correct. A billion is also possible. It depends on your location, program modality, and program size. Whatever my financial statements may say may not reflect true for your situation. I do work with my clients directly to figure out realistic projections based on their business details. Sorry this video wasn’t what you were looking for! Let me know if I can assist in any other way.
How did you feel about hiring strangers when you were in home? I live in a 1 level and although I’m brand new in the business, I already want to hire 1-2 people. While I do feel like I need that for my sanity, I also have mixed feelings about allowing strangers into my home 😬. Any insight on how you handled this?
Thank you for sharing. I am at the point of hiring employees to help me run my home daycare. My goal is to open a daycare center. Your advice is so helpful and resourceful.
If you'd like to be the director of your program, then you might need a degree or some sort of credential based on the state you're in. To run the business as just the owner (not the director), you don't need any special degree.
My program is a for-profit business. I do have a video going up today at 1:00pm that may answer all your questions about non-profits and help you make that decision! Make sure your notifications are on!!
Hello Ms. Christine? I would like to set a time to have a consultation with you. Please email me with a time and what are the particulars for a consultation with you. Thank you and I look forward to hearing from you.
