Starting your own daycare can be satisfying and profitable, however, there are many steps that are needed and costs that need to be considered before opening one. You need to think about loans, grants and other funding, licensing and startup costs.

Types

There are several types of daycare including daycare centers, home care and in-home care. Daycare centers have staff and often focus on learning. Home care means that the daycare is held in your home, often with several children. In-home care is like babysitting in which you care for the child in their home.

Startup Costs

According to Entrepreneur.com, the average startup cost for opening a daycare ranges between $10,000 to $50,000. It depends on where you open the daycare--whether it's in your home or at a building--and help, as well as necessary items needed in a daycare.

Legal Information

Every state has its own specific needs for certification and licensing requirements. Check with municipal offices in your state and region to find out what you need.

Grants, Loans, and Help With Funding

Although there are grants available to help people open daycares, according to Childcare.net, there are not many available. The best way to finance your daycare business is to look into bank loans, speak to the Small Business Administration, ask family and friends and seek venture capitalists.

Benefits

Owning and running a daycare can be rewarding in many ways. You are not only teaching and nurturing children, but you can also earn between $30,000 to $60,000 a year.

Source:

Gov VC: Information on Starting a Daycare

Child Care Online: Tips for opening a daycare

FabJob.com: Starting and running a daycare

Resource:

Entrepreneur: Startup Costs