Entrepreneurs go into business for a variety of reasons. While the profit motive is an incentive for many business owners, it has become less important to some extent as people start businesses for a variety of other reasons. The child care industry is no different.
Here are seven compelling reasons to start a daycare or child care center.
1) Depending on your state, a day care home may offer you an opportunity with low barriers to entry in terms of start-up costs and qualifications. The licensing process and compliance with daycare regulations take a bit of effort and planning, but can be easily overcome.
2) Childcare is a growing business and therefore an industry with great profit potential for those who start in the right place and position themselves correctly in the market. The industry has grown rapidly in recent decades and shows no signs of slowing down. There is a shortage of quality childcare in many areas and providers who meet quality standards provide a valuable service that will benefit their communities. Earning potential is also growing as parents demand a higher level of care and are willing to spend more to ensure their children’s early years are spent in a good environment.
3) Another reason that attracts people to the industry is the love of being around children. Being involved in running a child care center offers numerous opportunities to care for, educate, and have fun with children. The novelty wears off quickly for some when they realize that the responsibility of caring for children is more stressful than they thought. However, others realize that caring for and educating children is their calling in life. Seeing children grow, learn and develop as a result of your efforts offers great satisfaction and is one of the reasons many are drawn to child care.
4) The daycare offers business owners, particularly women, the opportunity to work from home. Starting and running a business from home allows parents to spend more time with their own children and create a more interesting environment for them.
5) A daycare business offers an opportunity to escape the monotony of a regular nine to five job working for a boss. With a daycare business, you may end up working more than eight hours a day, but you’ll most likely avoid a long commute, gossip about the water cooler, and office politics. Many people are starting to place more importance on lifestyle than career these days and value freedom over climbing the corporate ladder.
6) With your own business you can create your own destiny and decide how successful you want to be for the effort you put in. If you work hard enough, you can gain financial freedom by earning a great annual salary and enjoying an exciting new challenge.
7) As a child care center owner, you will be able to perform a variety of tasks throughout the day ranging from administrative work and marketing to spending time with children and talking to parents. For many people, a varied day is more interesting and enjoyable.
There are many good reasons to start a daycare business. While money is one of the reasons people go into child care, it’s usually those with other reasons who are most successful.