Weighing the Pros and Cons of Starting a Home Child Care Business

If the thought of children receiving poor child-care setskids one day, one the next.
your blood to boiling, you clearly have a heart for kids,INCOME
which is the number one factor for creating a• The Good: The income potential is huge. Day
successful child care business. But, the truth is, even ifcare is not, nor should it be, cheap. Depending on how
you have a passion for children, running a day caremany kids you decide to take in, and the going-rate in
center is a lot of work!your area, from a financial standpoint, starting a day
Like any home-based business, there are both proscare is a great choice.
and cons. It's up to you to decide whether the pros• The Bad: See Job Security (above). Consistent
outweigh the cons, or vice-versa. Below is a list ofincome for any length of time may be hard to come
some specific aspects of starting a day care center,by. As kids come and go, your income will, too. Also,
including the good and the bad about each one Takeremember that you will not get any paid sick days,
them into consideration as you make the choice ofvacation days or health benefits. If you or your children
whether starting a Day Care Center is right for you.are sick, you will basically lose a day or two of income.
THE KIDSFLEXIBILITY
• The Good: Starting a day care would enable• The Good: Flexible Hours AND work load. You
you to spend your day doing what you enjoydecide how many hours you want to work. Maybe it's
doing-being around kids!full-time, 8 to 6 every day. Or two days per week.
• The Bad: The kids aren't bad themselves, butMaybe you prefer afternoons only. Or even evenings,
their actions can be. Kids are definitely challenging. Ifto accommodate second shift parents. It's completely
you struggle with patience, anger, or get easilyup to you! You also choose your own work load. Do
frustrated, child care may not be the job for you.you want to take four kids or just one? The number
CONVENIENCEof children you are legally allowed to care for varies.
• The Good: The work comes to you. If youBe sure to check your particular state laws.
have kids yourself, the start-up cost will be minimal, as• The Bad: You might not be able to find the
toys probably abound in your home anyway. If there'sexact schedule you want. Compromise just may be
extra food to purchase, you can just pick it up duringinevitable.
your regular weekly grocery shopping. And an addedTECHNICAL STUFF
bonus: you can claim these items on your taxes at the• The Good: There are a ton of tax write-offs
end of the year!for the licensed day care provider. You might want to
• The Bad: Your home may take a hit...the mess,check out the following link, which lists all kinds of
stained carpeting, sticky floors...it all comes with the job.helpful sites by State:
If you are someone who takes pride in your spotless[
home, you would be in for a rude awakening. Besides• The Bad: The tax laws tend to be complex.
that, you're pretty much stuck in one place for anThere are lots of ins and outs you'll need to learn.
extended period of time. Not the most appealing toPermits and licenses to earn and apply for. You'll need
those who like to be out and about during the day.to consider whether this will be a problem for you. And,
JOB SECURITYif you have any children of your own, your write-off
• The Good: The demand for child care hasallowance for toys and such will certainly be affected.
never been so high. There will likely never be aThis only gives a glimpse at some of the pros and
shortage of kids needing good care.cons to starting a child care business in your home. If
• The Bad: Especially with today's economy, youyou find that the benefits outweigh the negative
never know when a parent will lose a job or need toaspects, this may just be the job for you!
pull their child out of day care. You could have four