Multitudes of little kids these days receive some form of child care outside the home due to the fact that parents are busy at work. In fact, The Center For American Progress reports that less than 33% of American homes have full-time stay-at-home parents. And since most parents are away from home on most days of the week, 23.4% of children below five years old attend formal daycare.
What do these numbers mean? For people interested in establishing their own daycare center business, now is the right time to do it. You may argue that some parents are now at home due to work from home arrangements, but that does not take away the fact that they are still busy throughout the day performing their duties.
Why establish a daycare center business?
If you love working with and being around kids, opening a daycare center might just be the right kind of business for you. Current daycare center owners find joy in caring for these cute little children. They find it not just financially rewarding but emotionally fulfilling as well.
Most owners even testify that the learnings are not just confined to these kids; they also learn a lot from them.
So whether you are passionate about helping children or you desire to help parents, a daycare centers business is an exciting option for you.
Daycare center at home Is it possible?
The short answer is yes. It can be the more affordable option because you do not have to rent a separate establishment as long as you have space.
If you decide to go this route, you can check with the Small Business Administration for loans that can help fund your venture.
How much does it cost?
The average cost for starting a daycare center will range from $10,000 to $50,000. The amount depends on whether you are renting a different facility or using your home for your daycare center.
If you do not have the minimum amount required to set up a daycare, do not fret. You have several options, including loans and grants available to child care businesses. You can search local listings or the internet for businesses that support startup daycare centers. Keep in mind that you may also be eligible for tax cuts and other benefits.
Benefits of starting a daycare center
Financially rewarding
As with any business, you can generate unlimited income through your daycare center. Depending on how hard you work, you can get your investment back in no time.
Emotionally rewarding
Being in daycare centers teaches you patience and shows you how to enjoy the simple things in life. The transition from a traditional desk job to being a daycare center owner is also refreshing.
Tax deductions
You can use some business expenses to save on taxes.
The bottom line
Establishing a daycare center is going to be both rewarding and challenging. There will be hurdles, but the advantages will far outweigh these problems as long as you have a solid game plan.
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