Thinking of starting an in-home childcare.

[IHeartTink04]

After leaving my 3 month old baby, I am depressed and I can't take it anymore.

My dream has been to be a stay at home mom and the only way for me to really do it is to have an in-home daycare.

I love kids and I am a certified teacher so I think it would be perfect.

What are you experiences with situations like this?

 

[Cheshire Figment]

I would also suggest going to www.irs.gov and order the following publications which will probably help a lot.

334 - Tax Guide for Small Business (For Individuals Who Use Schedule C or C-EZ)
463 - Travel, Entertainment, Gift, and Car Expenses
535 - Business Expenses
551 - Basis of Assets
552 - Recordkeeping for Individuals
560 - Retirement Plans for Small Business (SEP, SIMPLE and Qualified Plans)
583 - Starting a Business and Keeping Records
587 - Business Use of Your Home
946 - How to Depreciate Property

And also, if the time can be spared and at and minimal cost take a first semester Principles of Accounting course at a local Community College. Not necessarily to keep the books, but to get an understanding of what the business is doing.

Note that most small business fail within the first few years not because the owner did not know his subject but because they did not understand the accounting.

Mike (CPA Retired)

 

[Gabes_mommy]

My sister did this when my niece was an infant. She got licensed and insured and then she was able to have 5 kids at once on top of my niece. As I recall she did pretty well financially (30K - 40K a year after taxes I believe). She always had a waiting list for openings. She also had a very detailed legal contract that parents had to complete.

Good luck!

 

[IHeartTink04]

I am from Missouri and they do not require a license to have up to 4 kids not including your own child in the home.

Also, I forgot to mention I do have a Bachelor's degree in Business so I know some about running a business.

 

[mvazul]

I have done this and it has many ups and downs. My biggest suggestion is to have contracts spelling out EXACTLY what you are offering, what the parents should expect, the exact amount you are charging and the exact hours. Also, spell out clearly how much you charge for each XX minutes beyond the time the child is supposed to be picked up - and stick with it.

I have dealt with some families who were fabulous and others who did all they could to take advantage.

Good luck!

Michelle

 

[mickeylove2]

You will have to look at your individual state's requirements for this. I was once interested in becoming an at home child care provider. There are certain requirements that you must meet, for MD you have to take certain classes, your home has to be inspected, etc. Google the state requirements, also the Social Services office in your area should have some info for you. Good luck!

 

[Tiggerlover91]

My neighbor across the street is a certified daycare provider and she is SUCH a convenience. I get my son and his stuff and WALK him across the street. She only charges me $10 a day as he isn't there very long. When I get further in to my degree I'm going to start paying her more because I'll have to do field studies that require me to be in the schools at certain times. We've known each other for 5 years and it's nice to know that my son HATES leaving there. Today he had an all out fit when I came to get him. I was like wow. He gets to see her 4 days a week now because I'm in school and I'm glad he's so comfortable there. She adheres to our kosher diet by only feeding him what I bring and if she buys special treats for the kids she makes sure to look for the kosher symbol so my son can have some too. I think at home daycare is great. Bobbie has only been sited one time for a minor infraction and it truly was no big deal.
Good luck. If you have any questions, let me know and I'll talk to her for you. She's been doing this for years.

 

[mickeylove2]

http://www.sos.mo.gov/adrules/csr/current/19csr/19c30-61.pdf

I suggest reading this.

 

[puffkin]

I have used two home providers and was very happy with the experience. From a parents view, here are some things to consider:

1. Detailed contract. Lay it all out up front. You cannot change things on the fly or you will lose your "customers".
2. Home bound. Most parents will not let home providers drive with the kids or take them places. Are you comfortable being at home every day? Think about appointments for your child, yourself, etc.
3. Do you have backup. As a working parent, I relied on my sitters being there. If they or their kids are sick, it is a HUGE inconvenience for me.
4. Seperation in your home. Are the kids going to be in your "living area" all the time. That can be draining on your own family. Or is there a seperate space you can dedicate to "daycare".
5. Do you have age appropriate toys. Chances are you will get a variety of ages.
6. How much vacation time do you take? Both my providers only took 2 weeks a year. It was a HUGE pain for me to make other arrangements those two weeks. It was also hard if she closed early/opened late for an appointment. My 2nd provider decided to give herself 4 weeks vacation and we had to stop using her. We really liked her, but it was just too much of a hassle for us. Daycare centers usually aren't off that much.


Just some food for thought.

 

[clutter]

I am from Missouri and they do not require a license to have up to 4 kids not including your own child in the home.

Also, I forgot to mention I do have a Bachelor's degree in Business so I know some about running a business.

You may not be required to be licensed, but your parents may prefer it. It does give them comfort to know that you are following certain regulations and are subject to inspections. I'm a parent that trusts based on my instincts, so it's nice to know that the inspections are there to back me up. In addition, you get on the jurisdiction's referral program so people can find you. (I would go to the county website LONG before I'd answer an ad in a grocery store etc.)

Anyway, I'm a big fan of home daycares, my dd's was the best place ever!

 

[golfgal]

Have you thought about other work options besides a day care? What about tutoring? What about working an off shift from your DH so one of you is home with the baby? I am just throwing out ideas. I have a couple friends that did in home day care and they were awesome at the job. The one thing they said though was that their kids always got the short end of the stick because it was easier to let your own child cry then to let someone else's child cry (for example). They also said that once their own kids started doing activities they missed out on a lot because they couldn't leave the day care kids home to watch a baseball game.

When our kids were little I worked about 15 hours/week just to get out some. I worked retail in a commissioned area and actually brought home a nice amount of money each week for the little bit I worked. I averaged about $15/hour and this was almost 15 years ago. I worked about 4 hours a couple nights a week and one shift either Saturday or Sunday.

 

[Christine]

I have used two home providers and was very happy with the experience. From a parents view, here are some things to consider:

1. Detailed contract. Lay it all out up front. You cannot change things on the fly or you will lose your "customers".
2. Home bound. Most parents will not let home providers drive with the kids or take them places. Are you comfortable being at home every day? Think about appointments for your child, yourself, etc.
3. Do you have backup. As a working parent, I relied on my sitters being there. If they or their kids are sick, it is a HUGE inconvenience for me.
4. Seperation in your home. Are the kids going to be in your "living area" all the time. That can be draining on your own family. Or is there a seperate space you can dedicate to "daycare".
5. Do you have age appropriate toys. Chances are you will get a variety of ages.
6. How much vacation time do you take? Both my providers only took 2 weeks a year. It was a HUGE pain for me to make other arrangements those two weeks. It was also hard if she closed early/opened late for an appointment. My 2nd provider decided to give herself 4 weeks vacation and we had to stop using her. We really liked her, but it was just too much of a hassle for us. Daycare centers usually aren't off that much.


Just some food for thought.

I agree with all of the above. These are excellent points. I never ran a daycare but I certainly used them with my two kids. It is a tough job I believe. Really, there are no sick days and, at least in my area, you work a LONG day. Most home daycares here are open from 6:30 a.m. to 6:00 p.m. (this is what my neighbor does). People have 8 1/2 hour workdays plus a commute so they need care for up to 10 hours usually. Are you prepared for that? Maybe not an issue in your area...

Also, and I'm sure you know, you will have 4 other children and your baby is going to be wanting YOU to hold her and take care of her. Will you be able to handle that situation? Because many times you are going to have to tend to the other kids.

I like what my neighbor does in that she has a large in-home daycare but she also has one or two assistants with her and that really seems to be a good thing all around for everyone.