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"How to Start a Child Care Business"

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With the number of working mothers increase over the years, the demand for child care services is also on the rise. The industry grows steadily by 6-7 percent annually between 2008-2015, even during the recession where other private industries declined by 5% in 2009. Not only in revenue, child care industry also has a steady increase in profitability over the years.

With that in mind, child care business is a very promising opportunity. And although the competition is tight, more children are born with each passing year, ensuring steady demand. The biggest challenge of starting up this business is regulations-related. The industry is closely supervised by most states in the U.S. But if you follow the procedures and passed are the qualifications, you can have a very profitable and sustainable business.

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Here are some notable considerations to have before you start planning for child care services:

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1. Licenses and Permits
Like previously stated, this will be a major barrier for the industry. If you are in the U.S., most states have strict regulations for child care industries, and can vary by states. Consult the National Resource Center for Health and Safety in Childcare and Early Education (www.nrckids.org/) for information regarding licensing and qualifications. They can also provide you with information regarding the industry itself, equipment, staffing, and many others that might benefit you. Remember that rules and regulations can also change over time, so make sure you keep your business up to date with the standard to avoid legal problems.

2. Startup Investment
Your startup investment will largely dependent on type and scale of your operation. The industry average is around $80,000, but you can start a home-based child care service for $10,000 and above. If you have limited capital or wants to start small, starting in your home can certainly be an option, however, it may limit the number of children and will affect your brand perception. Taking over an existing child-care business can cost you $30,000 or more, but it will help with building the first customer base, not to mention saves time and headache for the initial startup. Other expenses you might consider is equipment, furniture, and supplies (educational toys, books, drawing boards, etc) and if you plan to provide food, food costs.

3. Marketing
Marketing starts with strategy, which is doing something different than your competitors. With the tight competition of the industry, it's important to bring more, or a different value than your competitors. It can be unique education materials, unique games, activities, and methods, or any other. It can also simply be an exclusivity of interior or facilities. Once you found your value, it will depend on how you introduce your service to potential customers. Traditional marketing collaterals like giving brochures and fliers are still effective. Online presence like a functional website and social media marketing will also help. In the end, marketing is only limited by your imagination. And the best marketing effort is to give the best experience to your existing customers that will recommend you to others.

Earning Potential

Industry average data in 2009 shows $708,000 in annual earning and has risen ever since to above $800,000. With the healthy net profit of almost 10%, it will net you $80,000 in profits alone.

A healthy home based child care service can have more than $100,000 in annual earning, showing how promising this industry is.