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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