Are you wondering what you need to start a pre school business? The following information will help you plan for your new venture.
What You Need to Start a Pre School Business - the Basics
Find out About Licensing Requirements
If you plan to operate a pre school business from your home or another location, you will need to educate yourself about the licensing requirements for your state. The license must be in place before you start providing services; this should be the first thing you apply for when getting your business up and running. To find out about requirements in each state, visit the ChildCareAware website.
Write a Business Plan
Writing a business plan is an important part of any new business. If you are going to go to the trouble to start a pre school business, you should run it like a business venture, not as a hobby. In the event that you need to arrange for financing for your business, you can present the business plan to a potential lender in support of your application.
Get a Picture of Your Business
In order to get a clear picture of your business, ask yourself the following questions:
- How many children will you be caring for?
- Will you be offering both full- and part-time care?
- What hours will your business normally be open?
- What is your policy for late pick-ups?
- Will you charge for the day if the child is ill and is being cared for at home?
Location for Your Business
Another thing to consider is whether you will be operating the business from your home or another location.If you will be working from home:
- What portions of your home will be used for business purposes?
- Will any parts of the house be off-limits?
- Do you have enough space to accommodate the number of children you plan to care for?
If you will be operating in another location:
- Will you rent space for your business?
- Should you be looking at buying a building?
- Is buying an existing business an option?
Arrange for Insurance
If you are caring for youngsters, you will need to ensure that you have sufficient liability insurance in place for your business location (whether it is your home or elsewhere). Your insurance agent or broker will be able to advise you about the appropriate level of coverage for your needs.
Financial Considerations
Another part of getting started with your pre school business is setting a budget. You may need to find start-up money for such items as:
- Equipment/Toys
- Advertising
- Supplies
- Renovations to Make Your Home/Business Location Safe
Plan for Finding Clients
Once you have these things in place, the next step in starting your pre school business is to find clients. There are a number of ways to accomplish this. You may want to consider:
- Putting up a sign on a bulletin board at a local shopping mall or school
- Placing an ad in the newspaper
- Printing up flyers and having them delivered in your neighborhood
- Launching a website
Don't discount the value of word-of-mouth advertising. Tell everyone you know that you are launching a pre school business. Have business cards with your contact information ready to hand out. Drop in to local businesses who cater to pre-school-aged children and their parents and ask if you can leave some business cards or flyers at that location.
There are a number of things you need to start a pre school business. Detailed planning will help you get your business off to the best possible start and give you a better chance of success.
