Developing An Effective Daycare Business Plan

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In order for any business including a daycare business to be successful it is advised to do a business plan. By completing a daycare business plan you will be better prepared and know if your business idea is one that you can succeed at. Below are a few steps that you can take when developing a business plan. You can use the information below as well as go to the 2005 Small Business Resource Guide and develop and write your own business plan. If this is more than you think you can handle you can hire an accountant to do this for you, but realize that it can be expensive. Or another way is to go the middle road and utilize a Business Plan Template that will cover all the basics, you will only have to update the information that pertains to your individual business.

Daycare Business Plan Outline

A business plan should consist of six (6) things.

Cover sheet

Statement of purpose

Table of contents

The Business - Covers Description, Marketing, Competition, Operating procedures, Personnel, Business insurance and Financial data

Financial Data - Loan applications, Capital equipment and supply list, Balance sheet, Breakeven analysis, Pro-Forma income projections (profit & loss statements) and Pro-forma cash flow.

Supporting Documentation - Tax returns, Personal financial statements, Lease or purchase agreements, Copy of Licenses and other legal documentation and Copy of resumes of all principals

Other things to consider

While developing your daycare business plan their are some things that you will want to make sure that you focus on and decide on in the process. A business plan should be a well thought out process and should not be rushed. Focus on these areas below and it will help ensure that you have a well thought out business plan.

Define Your Business & Vision.

Write Down Your Goals.

Know Your Customers.

Learn From Your Competition.

Count The Cost

By following this information, you should have a good start at creating a successful business plan. Remember in order to have a successful Daycare Business a Daycare Business Plan is a must. This is a start but you will need more indepth informations.

To help with this J. Wayne Norris the owner of http://www.start-a-home-day-care-business.com has compiled his site with information on the subject. Go to his site for information on starting a daycare and information about developing a daycare business plan.

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