Entrepreneurs go into business for a variety of reasons. While the profit motive is an incentive for many business owners it has become less important to some extent as people start businesses for a variety of other reasons. The child care industry is no different.
Here are seven compelling reasons to start a daycare or child care center.
1) Depending on your state, a home-based daycare can offer you an opportunity with low barriers to entry in terms of startup costs and qualifications. The licensing process and complying with daycare regulations do require a little effort and planning but they can be easily overcome.
2) Daycare is a growth business and therefore an industry with great profit potential for those who start out in the right location and position themselves correctly in the market. The industry has grown rapidly over the past few decades and shows no signs of slowing. There are shortages of quality daycare facilities in many areas and providers that meet quality standards are providing a valuable service that will benefit their communities. The income potential is also growing as parents demand a higher standard of care and are willing to spend more to ensure that their child’s early years are spent in a good environment.
3) Another reason that draws people to the industry is a love of being around children. Being involved with the management of a child care center offers numerous chances to care for, educate and have fun with children. The novelty quickly wears off for some as they realize that the responsibility of looking after children is more stressful than they first thought. However, others realize that caring for and educating children is their calling in life. Seeing children grow, learn and develop as a result of your efforts offers a great deal of satisfaction and is one reason that draws many to child care.
4) Daycare offers business owners, particularly women a chance to work from home. Starting and running a home business allows parents to spend more time with their own children and to create a more interesting environment for them.
5) A daycare business offers a chance to escape the drudgery of a regular nine to five job working for a boss. With a daycare business you may end up working longer than an eight hour day but you will most likely avoid a long commute, water cooler gossip and office politics. Many people are starting to place more importance on lifestyle rather than career these days and value freedom over climbing the corporate ladder.
6) With your own business you can create your own destiny and decide how much success you wish to have by the effort that you put in. If you work hard enough you can earn your financial freedom by making a great annual salary as well as enjoying a new and exciting challenge.
7) As a child care center owner you will be able to do a variety of tasks throughout your day that range from administrative work and marketing through to spending time with children and talking to parents. For many people a day that is varied is more interesting and enjoyable.
There are many good reasons to start a daycare business. While money is one of the reasons why people go into child care it is usually those that have other reasons that are the most successful.