Input on Opening a Day Care Center

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Posted by Jaylafa

on 4/2 at 9:43 am

My wife is wanting to open a Day Care Center in our town.
Wondering if it would be a good business to open up????

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Posted by Chad504boy

on 4/2 at 9:49 am to Jaylafa

If you think you are capable of finding good employees for cheap, yeah its a pretty decent business.

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Posted by JPLSU1981

on 4/2 at 9:51 am to Jaylafa

I'm by no means a Day Care expert, but I do know one person that owns one, and let's just say it is bleeding money out of them.

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Posted by Vrai

on 4/2 at 11:34 am to Jaylafa

What do you want to know? My mom has owned one since '88, so I've seen what it takes to make money She's there from 6-6 every day, cooks all the meals, and works her arse off....but it's been a very good business for her. Lots of people like to pay in cash as well. It all depends on if your wife is willing to put in the hours and work it will take to make money.

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Posted by Chris4x4gill2

on 4/2 at 11:45 am to Vrai

quote:
Input on Opening a Day Care CenterWhat do you want to know? My mom has owned one since '88, so I've seen what it takes to make money She's there from 6-6 every day, cooks all the meals, and works her arse off....but it's been a very good business for her. Lots of people like to pay in cash as well. It all depends on if your wife is willing to put in the hours and work it will take to make money

At the center we use this seems ot be the case. The owner/director is there at 6am to open and is the last one to leave in the afternoons.

Be prepared for parents to run late (weeks) on payment.

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Posted by Vrai

on 4/2 at 12:02 pm to Chris4x4gill2

quote:
Be prepared for parents to run late (weeks) on payment.

Yep. And you charge by the week. No pro-rated crap or anything.

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Posted by kfizzle85

on 4/2 at 12:23 pm to Vrai

Sounds like a shitton of work with crappy upside and lots of downside.

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Posted by Bubb on 4/2 at 2:38 pm to kfizzle85

You couldn't pay me enough. Lots of regulations too. Check DSS site for the list of reqs.

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Posted by Chad504boy

on 4/2 at 3:07 pm to Bubb

I pay close to 18k in daycare a year for 2 kids. If you do it right and not too much over head, there is lots of money to be made.

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Posted by kfizzle85

on 4/2 at 3:13 pm to Chad504boy

Your second sentence is universally true.

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Posted by Chad504boy

on 4/2 at 3:17 pm to kfizzle85

quote:
our second sentence is universally true.

First pretty much is too.

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Posted by kfizzle85

on 4/2 at 3:19 pm to Chad504boy

I'm sure it is.

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Posted by Chris4x4gill2

on 4/2 at 4:10 pm to Vrai

quote:
Be prepared for parents to run late (weeks) on payment.

Yep. And you charge by the week. No pro-rated crap or anything.

This.... we typically only use daycare 4 days a week, byt pay the same as if we used 5 days. It costs the center the same regardless. Also, fees are due weekly, late fee if not paid by Wed am.

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Posted by 756

on 4/2 at 9:00 pm to Jaylafa

you do not want to go there- find another business

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Posted by ZereauxSum

on 4/3 at 12:05 am to Jaylafa

My wife is currently providing daycare for a 14 mo old that we fostered for a few months last year. We befriended the grandmother who now has custody. She pays my wife about $700/month, which is pretty low for our area, but she's trying to help her out temporarily.

I will tell you that my wife will never ever do this as a full time business. You can make money at it if you have a passion to do it, but it's hard work caring for other peoples' kids. It might not be so bad if you run a center and hire child care professionals while you handle the administrative stuff, but running it out of your home is a commitment.

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Posted by tirebiter

on 4/3 at 10:02 am to Chad504boy

quote:
I pay close to 18k in daycare a year for 2 kids.

Are you going to foot the college costs, too?

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Posted by Poodlebrain

on 4/3 at 10:18 am to Jaylafa

It is a very difficult business to manage effectively. Think about the pool of workers you can afford, and what you will be trusting them to do for you. Think about your customers and what they will expect from you. Then know it will be worse than you imagined. Your workers will amaze you with the stupid decisons they will make, and your customers will take advantage of you by leaving hteir children well past the designated pick-up time, dropping them off when sick and not paying you on time. Meanwhile you are trying to stay in compliance with all of the regulations regarding operating a business in general as well as the requirements for a daycare operation.

The best way to find out if your wife really wants to go the whole nine yards is to provide daycare for one or two children in your home for some very select parents. If she finds that she enjoys doing so, then she will be more prepared for opening an actual center.

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Posted by Chad504boy

on 4/3 at 10:29 am to tirebiter

quote:
Are you going to foot the college costs, too?

Take all the equity out my house, pay for college, file for bankruptcy. live life large.

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Posted by tirebiter

on 4/5 at 3:43 pm to Chad504boy

quote:
Take all the equity out my house, move all assets offshore, do not pay for college, and live life large in Thailand.

FIFY.

Should be easy when you close on that 3.00% 30-yr FRM.

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Posted by aaronb023

on 4/5 at 5:06 pm to tirebiter

i know two people who own day cares. one just opened one a few months ago. they knew how many kids they needed to break even and exceeded that pretty quickly. the second owns several daycares and does really well.

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