Are you someone who enjoys caring for children, has fun getting messy, and wants to be your own boss? Becoming a licensed child care provider may be the right path for you! Opening a child care business takes time, determination, and passion, so it is important to ask yourself five key questions early in the process:
1) Do I enjoy working with children and families?
When opening your own business, it is important to make sure it is something you will enjoy doing every day. In addition to many bright and shining moments, owning a child care may come with working long hours, having hard conversations with parents, and creating a new routine for your own family. Before moving forward, is important to reflect and make sure you will be ready to wake up each morning ready to fully commit to the day.
2) Why do I want to start a child care?
Everyone has their own “why,” and yours is going to be your guiding compass. With every success comes its own hurdles, so having a core reason to ground your work as a business owner and provider will carry you far.
3) What is going to be my biggest challenge?
You likely have lots of questions on your mind. Do I need a fence? How much money will I need to start? How long will this take? You do not need to answer these questions by yourself, so building a toolbox of professionals early on who can help you challenge your challenges will help mountains you face feel smaller. Business advisors, realtors, community partners, and mentors all want to see you succeed!
4) What is my support system?
We all need positive people or healthy habits to turn to when work and life feel overwhelming. Support from your partner, parents, children, and friends is imperative, as well as making sure you have outlets to turn to individually, as well. Do you enjoy running? Crafting? Baking? Listening to music? All are great options to set aside your own time for!
5) Where do my finances stand?
Before embarking on opening a business, you must make sure your personal finances are in order. Strong credit (or a plan to improve), savings set aside for startup costs, and a plan for transitioning to focusing on the business full-time are fundamental factors to consider.
Child care providers are lifelong learners, brave, and confident- all qualities which apply to capable business owners. Wearing a business hat may feel new and there may be much to learn. By breaking the process into achievable steps and leaving room for reflecting, you will be well on your way to owning your own child care business!
About Emma Richardson
Emma Richardson is a Program Developer for the Child Care Business Lab at Coastal Enterprises, Inc. (CEI), a Maine-based community development financial institution with a mission to build just, vibrant and climate-resilient futures for people and communities in Maine and rural regions by integrating finance, business expertise and policy solutions in ways that make the economy work more equitably. If you are interested in learning more about opening your own child care business, please check out the Child Care Business Lab website and consider signing up for a future workshop.
Editors note: The Union River Center is gathering data on child care needs and resources in the greater Ellsworth region; if you would like to weigh in, please take a few minutes to complete this survey.