Discovery Point Blog
Starting a Daycare Business: 4 Items for Your To Do List
Once you’ve made the decision to open a daycare business, it’s time to sit down and look at the nitty gritty details involved in bringing your vision to life. Every industry has its own requirements when it comes to business ownership and operations, and a child care center is no exception.
There are a couple of different ways you can go about opening this type of business, from running it out of your own home to purchasing a franchise location. As you consider the approach you would like to take to start your business, don’t forget to put the following items on your to do list.
1. Research local, state, and federal requirements
Before you take any steps to start establishing your daycare business, it is essential to gain a solid foundation of knowledge in all the requirements you’ll need to meet. Daycare centers must undergo state-level inspections to ensure adherence to licensing codes. Child care centers run out of residential homes have different regulations to follow than those run out of a business facility.
These regulations typically cover the following areas:
- Meals and food storage
- Day-to-day schedule
- Emergency drills
- Fire escape plans and exits
- Hygiene and sanitation
- Safety and security
- Insurance policies
2. Calculate startup costs for your daycare business
Another factor to consider when looking at start-up costs is time. Constructing a center from the ground up has the advantage of a brand new center, larger in design, in an untapped market. However, it could take up to two years to develop. On the other hand, buying a resale location will allow you to get started in a matter of months rather than waiting on an entirely new building to be constructed.
Be sure to include the following costs in your calculations:
- Building and facility costs
- Supplies and equipment
- Franchising fees, if applicable
- Licensing fees
- Staff compensation
- Insurance policies
- Marketing and advertising costs
3. Consider your approach to staffing and recruitment
Bringing the right staff members onto your team will be essential to the success of your daycare business. As a result, the topic of staffing absolutely deserves a place on your to do list.
For many smaller businesses, there’s a fine line to walk between the quality of caregivers they want to hire and the compensation they can afford to pay. However, it’s important to keep in mind that investing in staff members who share your vision for your child care center can help reduce turnover. Hiring dedicated professionals will lower costs in the long run and also makes your center a more stable and welcoming environment for children.
Training is another aspect of staffing to consider. Depending on local requirements, your staff members may need to be trained on certain health and safety rules. Additionally, if you want your child care center to have an educational component, you may need to have caregivers trained in a chosen set of curriculum.
4. Plan for multiple marketing channels
Marketing plays a huge role in the establishment of any business, and your child care center will be no different. In this day and age, digital marketing is king, meaning you’ll want to build a website and social media pages for your business, as well as pay for ads on search engines.
However, because daycare businesses are so neighborhood-oriented, you’ll also want to invest in a traditional marketing campaign that includes attractive signage, brochures, press releases, and engagement in community activities.
Get a Head Start on Your Daycare Business with Discovery Point
Discovery Point can help shorten your to do list, so you can get your business up and running more quickly and with less risk. We are a child care franchise with locations across multiple states. We are dedicated to helping our franchisees achieve their dream of opening a child care center that positively impacts their local community. Becoming a Discovery Point franchisee gives you everything you need to get started, including the following:
- Franchisor led site selection and construction
- Full equipment package and supplies included in the total package cost
- Assistance with licensing and inspections
- Effective marketing campaigns both for grand opening and ongoing
- Proprietary curriculum
- Ongoing business support
- A brand name families trust
Learn more about our child care franchise today! Contact the Discovery Point franchising team at 770-623-1140 to explore our daycare business opportunities.