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Business Idea: Start a Childcare Business

Childcare is a considerable expense for many households and a flexible way for a stay at home parent to earn additional income.   Working parents are in high demand for high quality and affordable childcare in almost every market (really every but hey there might be one).

You will need to find out about licensing and regulatory requirements for your specific local market.  These do vary greatly depending on where you are located.  In many markets, the regulatory burden is based on the number of children you watch and may or may not include your own.   In most markets, you will also need to complete CPR and first aid certifications.  Consider complying with most regulations even if they may not apply to you just to provide best practice and credibility for your service.

Keep in mind that you are providing a service so your customers can go to work, so you will need to build your business and contract specifically for this market.  Your contract will need to dictate your fees, expectations, and availability.  Additionally, you will need to detail what happens when you are unavailable due to illness or vacations, and what happens when the parents are late or they go on vacation.

To attract potential customers consider soliciting a key demographic target that you know.  Maybe you focus on 2nd shift working moms because you like to have your mornings free.  Or only watch kids for teachers because you want your summers off as well.   There could be a market for weekend childcare for a specific industry or function that occurs in your town.

Childcare is a very important and valuable role to provide parents and you have great rewards and responsibility to provide a high-quality service.

business idea, childcare, dad, mom, startup, work from home

Gregory Brickner

Gregory is the Co-Founder of Finive and a number cruncher himself. He leads the obsession for cash flow for small businesses that is the Finive spirit. With insights into cash flow, business owners make better decisions, increase profit, and achieve their wins.

Financial Apps & Tools

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Forecasting Guide

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Free Cash Flow Is  | Helping you understand cash flow and become a cash flow winner

Cash Performance Report

Translating EBITDA into Cash Flow Performance to fuel growth.

Understanding the cash flow activity of the organization creates insights to drive results. The cash performance report creates a clear cash flow picture of the organization by merging the Income Statement and Statement of Cash Flows. 

Three Things Your Budget Must Have

Key elements of a successful budget for a growing business.

Many organizations are starting to think about the 2021 budget cycle. Before you get too far in the planning consider these three elements to produce a quality budget.

Why Your Business Needs Cash Flow Forecasting

Regular cash flow forecasting is an essential part of strategic planning to fuel growth.

A regular cash flow forecasting routine is a catalyst to achieve your growth goals. The forecasting process will force you to do the mental exercise of working ON your business instead of merely IN it. 

Evaluate Performance and Drive Success with KPIs

An introduction creating KPIs for behavior gains in your business.

Business leaders are often seeking ways to find a higher tier of growth and motivate the team to achieve more than they thought possible. We discuss performance with other words, such as targets and objectives.