Your Day Care Business Plan

Day Care Finance

Many times people who want to start a new business chaff at the idea of having to write a business plan. The idea of going through a tedious process of documenting the business aspects of something that is really your dream that you want to make come true seems tedious and unnecessary. After all, you know at a gut level what you want to do so the thought that you have to get that all on paper at a fairly detailed level seems to be a nuisance.

This may have been your reaction when you begin to plan your new daycare that you want to open and perhaps your banker or someone at the small business association told you that creating a business plan was crucial to getting your daycare out of the dream phase and into the realm of reality. But there are some very good reasons why you should give the process of creating a business plan for your future daycare some serious effort and some patient tender loving care because it really is a major key to your future success in running your daycare.

The timing that most people who want to start a daycare business encounter the need for a business plan is in seeking funding. It takes money to start a daycare. You will need to secure a facility, remodel it to become your dream of a daycare center, purchase the playground equipment, cribs, bedding, toys, medical supplies, office equipment, computers and software, and the supplies to run your daycare until the tuition from parents begins to roll in. So, like any new business start-up, you will probably need to seek out a small business loan from a bank or some other financial institution.

Lenders are generally very open to funding a well thought out new business venture. But the key is you have to show them that your plans to open a daycare are well thought out. And it is the structure of your business plan that is the backbone of any effort you will organize to go and talk to lenders about backing you on your new daycare business. This is also true even if you are seeking funding from private individuals such as family members, friends or an institution who is your sponsor such as a church or school. Any of those entities will need to see your plan for starting the daycare and be able to appreciate that you have done your research, thought through the issues and have a solid plan to make this new business profitable so you can pay back the loans you need to get started.

The good news is there is plenty of help available to you on what you need to include in your daycare business plan and how it should look when you present it to lenders. There are volunteers at your local small business administration who are experts in writing business plans and they can help you a great deal. Also, there are a huge amount of web sites, kits, and books that you can buy to help you with the process. So don’t feel abandoned and alone in what you need to do. Give it a good amount of attention and you will find yourself writing a business plan that will be a big value not only in getting funding but in running your daycare over time.

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