As a daycare provider, it is important to create a contract. The contract should include the days and hours of care, the rate being charged, any holidays that care will not be provided, the amount of vacation time, if the holidays and vacations are are paid or unpaid, if there is an extra fee if the child/ren are not picked up on time, when payment is due, sick policy, what supplies are provided by the daycare provider and what are the parents responsible for, what the termination policy is (how much notice has to be given)...
My policy statement also includes my experience, a little about my family, how we deal with discipline, consent forms that need to be filled out by the parents....The consent forms include permission to dispense medications, permission to take the child/ren on field trips, permission for EMERGENCY medical care and who is authorized to pick up the child/ren.
The problem that many providers run into is that they want to do this on the side or under the table and do not handle it as any other self-employed business owner.
I'd be happy to send you a copy of my policy statement, contract and consent forms via email if you would like. I have them saved them as Word Documents.
You may also want to look at the Redleaf Press website. They have a lot of good resources for day care providers.