Weighing the Pros and Cons of Starting a Home Child Care Business
If the thought of children receiving poor child-care sets your blood to boiling, you
clearly have a heart for kids, which is the number one factor for creating a successful
child care business. But, the truth is, even if you have a passion for children, running a
day care center is a lot of work!
Like any home-based business, there are both pros and cons. It's up to you to decide
whether the pros outweigh the cons, or vice-versa. Below is a list of some specific
aspects of starting a day care center, including the good and the bad about each one Take
them into consideration as you make the choice of whether starting a Day Care Center is
right for you.
• The Good: Starting a day care would enable you to spend your day doing
what you enjoy doing-being around kids!
• The Bad: The kids aren't bad themselves, but their actions can be. Kids are
definitely challenging. If you struggle with patience, anger, or get easily frustrated,
child care may not be the job for you.
• The Good: The work comes to you. If you have kids yourself, the start-up
cost will be minimal, as toys probably abound in your home anyway. If there's extra food
to purchase, you can just pick it up during your regular weekly grocery shopping. And an
added bonus: you can claim these items on your taxes at the end of the year!
• The Bad: Your home may take a hit...the mess, stained carpeting, sticky
floors...it all comes with the job. If you are someone who takes pride in your spotless
home, you would be in for a rude awakening. Besides that, you're pretty much stuck in one
place for an extended period of time. Not the most appealing to those who like to be out
and about during the day.
• The Good: The demand for child care has never been so high. There will
likely never be a shortage of kids needing good care.
• The Bad: Especially with today's economy, you never know when a parent will
lose a job or need to pull their child out of day care. You could have four kids one day,
one the next.
• The Good: The income potential is huge. Day care is not, nor should it be,
cheap. Depending on how many kids you decide to take in, and the going-rate in your area,
from a financial standpoint, starting a day care is a great choice.
• The Bad: See Job Security (above). Consistent income for any length of time
may be hard to come by. As kids come and go, your income will, too. Also, remember that
you will not get any paid sick days, vacation days or health benefits. If you or your
children are sick, you will basically lose a day or two of income.