How to Start a Home Day Care

WELCOME AND INTRODUCTION LEGAL STRUCTURE PHILOSOPHY SERVICE PLAN MARKETING PLAN FINANCIAL PLAN RESEARCH AND INDUSTRY DATA

AGENDA

Why do you

want to start a Family Child Care

Business?

What is your WHY?

Availability of Child Care in Illinois in 2012

Children Under 8Years Old 3,126,869 Children Under 6 Years Old 974,160 Children Under 6 All Household Parents in the Labor Force 633,968 Number of Licensed Child Care Spaces in Illinois 329,625

Industry Statics

Licensed Providers (Total 10,427)

Centers - 2,668

Family Child Care Homes - 7,296

Group Child Care Homes - 463

Industry Statics

License-Exempt Providers (Total 55,923) Centers - 735 Family Child Care Homes: Non-Relative in Provider's

Home - 10,602 Family Child Care Homes: Relative in Provider's

Home - 23,042 Family Child Care Homes: Non-Relative in Child's

Home - 7,470 Family Child Care Homes: Relative in Child's Home -

Industry Statics

DCFS – Department of Children and Family Services – Orientation

Local Community governing body Local Child Care Association Where to purchase equipment Women Business Development Center Local Child Care Resource & Referral Agency Gateways to Opportunity Registry

First Steps

The most common forms of business are

the sole proprietorship, partnership,

corporation, and S corporation. A Limited

Liability Company (LLC) is a relatively new

business structure allowed by state

statute. www.irs.gov/Businesses

Business Legal Structure

Questions

Attorney

Accountant

Partnerships

Financial Institution

Retirement options

Resource Team

Behind every school and every teacher is a set of related beliefs--a philosophy of education--that influences what and how students are taught. A philosophy of education represents answers to questions about the purpose of schooling, a teacher's role, and what should be taught and by what methods.

Philosophy of Education - McGraw Hill Higher Education

highered.mheducation.com/sites/0072877723/student_view0/chapter9/

PHILOSOPHY

WHAT IS YOUR PLAN?

IF YOU FAIL TO PLAN YOU PLAN TO FAIL

BLUEPRINT?

MENTOR?

SERVICE PLAN

DEMOGRAPHIC SUPPLIERS AGE TRADITIONAL CARE/GROUP NIGHT / DAY/WEEKENDS LIABLITY BENEFITS

SERVICE PLAN CONT’D

Group Activity

A BUSINESS WITH NO SIGN IS A SIGN OF NO BUSINESS

YOU “MUST” KNOW YOUR CLIENT/CUSTOMER

PROMOTINAL MARKETING TOOLS SUCH AS: BUSINESS CARDS, BROCHURES, AND FLYERS.

MARKETING

Who is your competition?

Where will you promote your business?

How much will you charge parents?

What services will you provide?

How many months of the year will your program

services children?

MARKETING

ACCOUNTING WRITE – OFFS STATEMENT TAXES MERCHANT SERVICE DEBT VS INCOME DISCIPLINE (co-mingling)

FINANCIAL PLAN

NO ONE KNOWS YOUR BUSINESS BETTER THAN YOU

PREVENTION IS BETTER THAN CURE

QUALITY PAYS FOR VALUE IN THE MARKET

RESEARCH AND DATA

INCCRRA –Illinois Network of Child Care Resource and Referral Agencies www.inccrra.org

Nation Association for the Education of Young Children www.naeyc.org

McCormick Center for Early Childcare Leadership National Louis University mccormickCenter.nl.edu

Illinois Action for Children Child Care Resource & Referral Agency

PROFESSIONAL DEVELOPMENT RESOURCES

Women Business Development Center www.wbdc.org National Association for Family Child Care

www.nafcc.org

ExceleRate Illinois www.excelrateillinois.com

Illinois Gateways www.ilgateways.org

Illinois Department of Human Services www.dhs.state.il.us

PROFESSIONAL DEVELOPMENT RESOURCES

Q&A

Shanetha Pollnitz

Owner of Tiny Tots Tabernacle708-525-4643