5 Things to Know Before Opening a Daycare Franchise
Did you know that most of the childcare facilities in the United States are run at home by one person (3,767,000 out of the total 3,896,000 facilities)? Only 3% are actual daycare facilities.
Are you thinking about starting a daycare franchise? Are you concerned that you don’t know everything there is to know before beginning such a monumental endeavor?
We are here to help. Read our brief guide below before venturing out to become a daycare franchise owner.
1. Decide Upon the Location
As seen in the statistics above, a lot of daycare owners are choosing to run their facilities at home, until they are big enough or established enough to venture out into an outside location.
If you aren’t interested in doing that, then you will want to choose a location that’s central enough for parents to pick up and drop off their children on their way to and back from work. Also, having a playground or some other fun activities to do around would be helpful as well.
2. Look Into Licensing Requirements
Each state has its own licensing and regulatory requirements when it comes to opening up a child daycare. So you will need to either do some research on this on your own OR hire a lawyer who can help you with all the necessary paperwork.
3. How You Will Finance the Daycare Franchise
Do you have enough savings to take care of all preliminary daycare franchise costs? If not, you will want to look into some financing options. Here’s a guide to daycare financing for you to get started.
4. Don’t Forget to Get Liability Insurance
You are going to be dealing with little ones and of course, you will want to be meticulous when it comes to taking care of their health and safety. But no matter how hard you try, accidents might still end up happening. That’s why having the proper insurance in place will ensure you are at least protected financially.
5. Hire the Right Staff
It’s so important to hire the right people to help you at the daycare franchise business because it can make or break your business. Also, you will want to hire reliable people who you can trust to treat the children as lovingly as you would.
There are too many horror stories out there of daycare staff mistreating children under their care. You don’t want to add your daycare franchise to the mix as well.
Market, Market, Market
Marketing your daycare franchise is going to be a lifelong endeavor. The faster you want your child daycare to grow, the more you will want to market it.
Of course, you can also use word-of-mouth referrals to get new customers in the door. That will show you how loyal and satisfied your current customers are with your services.
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