Q: What business should I start?
A: This is often the first question asked. You are the only person who can answer the question, “What business is best for me?” Begin with an exploration of your skills, abilities, and talents. Then ask, “How might I turn those skills and interests into a business?” Finally, consider if there is a market for the proposed product or service. In reviewing the options available, consult with local expert sand other business owners. Check with potential customers — are they interested enough to pay for the product or service proposed? The question is market need. Your chance of success increases when you match a product or service with its potential market, whether local, statewide, national, or international.
Q: What do I do first? Where do I start?
A: Business start-up involves several early tasks. Remember to take your time and plan carefully. Do not rush through these or any other start up task. Some of the first tasks are:
Selection and registration of the business name
Deciding where to locate the business
Getting the necessary licenses and permits
Developing a business plan and a marketing plan
Setting up production
Determining a pricing schedule
Q: What is a business plan and why do I need one?
A: A business plan is the firm’s résumé and its goals and objectives. Develop a business plan as much for yourself as for the partners, investors, and bankers involved with the business. The business plan identifies the product/service, the market, and the management team. The plan defines where the business plans to operate and your business experience. Parts of the plan include a market study, promotional strategies, current and projected balance sheets, income statements, and cash flow analysis. It outlines how, when, and where financial support will be obtained and outlines a plan to repay those loans. It provides general operating information. A business plan helps clarify where the business is now, where it has been, and where it is going. Business plans have three different uses. They are (1) feasibility plans and marketing plans; (2) operating/procedural plans for financial needs, production schedules, and marketing goals; and (3) tools to secure loans or outside capital. There are many resources, such as Small Business Development Centers and the Service Corps of
Retired Executives, available to help develop a business plan. Computer software programs that can guide plan development are available. Workshops for developing a business plan are offered by universities, community colleges, and vo-tech schools.
Q: Are childcare providers monitored on a regular basic?
A: As part of the initial licensing process, childcare providers undergo an inspection that includes inspection of the home or daycare center, sanitation, outdoor safety, program, health & nutrition, child protection records, and provider requirements as well as a fire safety inspection. Family childcare providers are re-registered every 2 years with an announced visit and unannounced visit in the off year. Childcare centers are completed every year and may have drop-in visits.
Q: How many children can a family provider care for?
A: A family provider can be licensed to care for up to eight children. Two of the children may be infants under the age of 2 years. There may be limits to the actual number of children cared for based upon the home environment, provider's own children, and presence of a co-provider.
