Questions when considering starting a home daycare.
My wife is considering a home daycare/babysitting service while she takes time off work (3rd grade teacher) to care for our newborn. Doing some rough numbers this would entail 3 children on a full time basis. One hope is that her education credentials (10 years teaching, Masters Ed - Reading Specialist) up the marketability. We're looking up most of the regulatory and insurance factors. Other info: She can hold her current position for a year if this fails. We're in the City of Chicago. We own the home. Insurance quotes received.
Here were some of the initial questions that came up:
- What is the best way to comparative price services?
- What are typical (other than word of mouth) advertising/marketing ideas?
- She'd want to start taking kids around beginning of school year, how far in advance to people book services?
- Her initial thought was a mix of ages 0-5, what are the typical age categories for in home day care? Or are they typically mixed?
- Her thought is to keep it more of a babysitting effort than day care. In the eyes of regulations, etc, is there a difference?
- What business models work? Do people usually setup LLC's for such things? What limits personal asset exposure? (Besides insurance)
I read this
thread, it was helpful as well.
Any other tips, advice, etc, welcome. Thanks!