Partnership Or Sole Proprietor - Which Is A Better Model For Daycare Centres?

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Are you fretting over whether you should start the daycare centre on your own or with a partner? To make an informed decision, you first need to understand how both business ownerships differ. Whilst both are fairly simple forms of ownership and ideal for small businesses, it has its advantages and disadvantages.

Let’s start with sole proprietorship. It is a very simple model. You just walk into the company registration authority to register your daycare business. The owner and the company are not separate legal entities, which means that you and the daycare centre are considered as one entity for tax and liability purposes. The daycare centre and you are jointly responsible for all debts related to the business.

As for partnerships, there are 2 different types. One is general partnership whilst the other is private limited. Like sole proprietorship, a general partnership is also very easy to set up, simply walk into the company registration authority to register your daycare business. And like in a sole proprietorship, the daycare centre and partners are not separate legal entities. Which means all the partners are responsible for any debts incurred by the daycare centre. For example, if the daycare business incurred a debt of $30,000 and the partners decided to wind up it up due to lack of capital, all the partners are liable to pay off the debt with their own personal assets, unless they choose to declare bankrupt. Unlike in a private limited partnership, the partners and daycare business are considered separate legal entities and are therefore not liable to pay off any debts with their own personal assets. However, unlike a general partnership, it is a little more complicated to set up and will entail depositing and maintaining a certain amount of money in the bank which acts as a guarantee. The plus side is suppliers, because of the forced deposit in the bank, tend to be more inclined to offer private limited companies better credit terms than a general partnership.

There are however a few differences. As a sole proprietor, you are the boss and therefore have the absolute say in the daycare business. It also means that you will need to undertake all the risks, costs and responsibilities by yourself. In a partnership, however, all the risk, cost and responsibilities are shared as all the partners are bosses. Which also means that the running of the daycare business will need to be by general consensus to ensure that all the partners are kept happy.

There is no one best business ownership model as both of them carries with them its own form of risk and returns. Some prefer the freedom of a sole proprietorship whilst others feel more secure in numbers. Even in partnerships, some prefer the simplicity of a general partnership whilst others prefer the security of a private limited partnership. Which form of business ownership you ultimately enter into is highly dependent on your personal risk appetite and resource.

For more information or resources on starting a successful daycare, please visit http://www.setupadaycare.com

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How to Get Child Care Grants For Your Daycare Center

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The 6 Important Steps

There are many questions circulating these day’s on how to get grants to start up a small business or daycare. Unfortunately I’m here to tell you that if you are a non-profit daycare finding “free” money will be difficult. But don’t give up, just because the government is unwilling to supplement a business start ups cost doesn’t mean that it’s totally hopeless. It is your duty to be creative in coming up with the supplies that you will need to start up your business. In the home study course, www.instantdaycareprofits.com many of these issues are addressed. Realistically you can set up a very profitable business if you think a little differently from everyone else.

One tip is non-profit independent child care business owners can try a service called, “Foundation Grants to Individuals Online”. This service is an online listing offering grants to individuals in the U.S. To learn more you can go to http://www.fdncenter.org. There is a charge of $9.95 per month for this service.

Here are some important steps in finding childcare grant money:

1. Do your due diligence and research. Your first step should be calling your licensing bureau office, referral agency, and child care organizations. The other organizations that also should be called an are affiliated with childcare are: Head Start, Child Care and Development Fund, Social Services Block Grant, Child and Adult Care Food Program, Even Start, Individuals with Disabilities Education Act.

While these organizations are affiliated with childcare, you also may be able to find an organization that would be willing to grant you money. Keep into consideration backyard organizations such as: Lions, Rotary, Kiwanis, and United Way.

Also, keep in mind corporations and businesses in your area. Many a time I will enter a business and ask them if they have anything they would like to contribute. One example would be going to a paper factory, stationary etc or any office that throws out paper. Remember, you need paper for your daycare and would be able to utilize what they consider trash.

2. After you have contacted the above mentioned organizations your next step would be to request their guidelines and applications. At this point and time necessary information should be collected to determine whether you and the funder are a good fit. One research tool that would help you in your determination would be Grant Smart (http://www.grantsmart.com/search/search001.html)

3. Write a description of your need for money. You will have a discuss why you need the money and what your purpose will be for those funds. Other questions that you should be asking yourself is, why should the project be done?, how long will it take?, how much it will cost?, who will do the work?, and most of all, how will it impact the quality of childcare you will provide?

4. Prepare your proposal letter. Your letter will encompass and expand on why you need the grant funds, and what your purpose is behind it, and how it will benefit your program. Be sure to include any statistics and demographics that will influence your cause. Attach any letters of support from parents, people in the community advocating your project. As well, make sure that you have fine tuned any financial numbers or budget considerations for this project.

5. Be patient and organized. Make sure that all your papers are organized into folders; there will be a time that you will need to wait. Fund organizations do receive other proposals so be patient

 Mentor of Instant Daycare Profits Home Study Course. Receive Christine's 3 part newsletter on how to start your own daycare and make over 90K per year. Go to http://www.instantdaycareprofits.com

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Why Starting A Daycare Is The Best Thing Since Sliced Bread

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Who ever thought that starting your own daycare could allow you to stay home and make $90,241 a year from the comfort of your own home.

Just think about this for a minute….

Get up in the morning invite 7-8 kids to your house Monday thru Friday, have fun, teach pre-school activities, read books, eat lunch, take a nap, play little more, go home.

That’s about what the day involves, but you need to think further. You are a business owner now, which means you can write off items on your tax return. How about things like furniture, cars, or utility bills? These are items you need anyways regardless of any business or job you might have.

Pretty cool, right?

Another thing to remember is all the personal work you can get done in your home while running your daycare. I always found naptime to be very productive.

So while your kids are sleeping, you can be getting your chores done by folding laundry, making dinner, phone calls paperwork, etc. State agency rules state that you need to be within hearing and sight of your children. So why not get a little of your work done while they sleep?

But remember you cannot do your chores while children are awake and present. This would qualify as poor child care practices.

I just wanted to give you some pointers as someone who’s been there!

Next, we will talk about working at home while raising your children.

I started my daycare when my twin daughters were both 1 years old. It was great because Alex and Caroline loved having other kids over to play.

The two “momma’s girls” got out of my hair and became preoccupied with their friends who came over to our house. To them, it was just one big party. I still remember the day when a family of 2 boys came over and my daughters played. Their favorite thing was to run around the living room with a gigantic yellow blanket over their heads.

In essence, the whole thing worked out pretty well. I made money, my daughters had fun, I supplied a great service, and at the end of the day, the laundry was folded and there was food on the table.

Amazingly, it cost me very little to start my daycare. Most of the toys were my daughters’ or gifted to us by friends. Birthday parties were a great way of building my business. Invite all your friends and relatives, make a meal, and you’d be amazed at all the gifts that come flowing in! People love to buy toys and clothes for little girls.

I also began frequenting my local Goodwill store. I bought a lot of almost new toys, books, games, puzzles for next to nothing. I also shopped rummage sales. It also helps to ask parents for a donation of toys or items they are not using in their home. You’ll be surprised by how many Christmas gifts never make it out of their boxes! Tell your parents that you would love to use these items and put them to use.

Want to see the proof in the pudding that I really made that kind of money? Go to http://www.instantdaycareprofits.com to download my free 6 part newsletter on how to open your own daycare. Christine Groth is a author and mentor of 6-weeks to Instant Daycare Profits Home Study Course.

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There are many reasons why you, a parent, want or need to get back to work, whatever your reason, on of the biggest worries will be how to solve the day care issue. It is not really fair to expect other family members such as grandparents or parents to look after your child so you will need professional day care -- unless your employer is forward-thinking enough to provide a creche for its staff's children. There are several options open to you; day care facility, a child minder, au-pair or a nanny. But which is best for you?

Unfortunately, that is not an easy question to answer, it will depend on a variety of factors, not least how much you can afford and what services are available in your area.

Day care facilities offer certain advantages over nannies in that your child will get to interact with more children of similar age, as well as adults, developing their social skills. They will also interact with different adults during the day. With a nanny, the child will be interacting with predominantly one adult and will meet and play with fewer other children.

Whichever you choose, avoid being hasty, don't just go with the first one you find. Check them out - a good day care facility will be able to provide evidence of staff training and will not be shy to show you round. Try to visit when other parents will be there and make the opportunity to talk to them. Get their feelings about the place. A Nanny or au-pair will be able to provide you with references, but these alone are probably not enough to allow you to make the decision. Interview the candidates and probe to find out how you feel they would cope with emergency situations. Also try to get to talk with their previous employers and find out how they were and why they left. Using an agency can be helpful here as they should already have done the necessary vetting of the staff on their books.

So, in short, when going back to work, don't rush into the organisation of your child's day care, check it out carefully and only make the decision when you are satisfied with the service and credentials offered.

Disclaimer: This is for informational purposes only, we can not accept any liability for any decision you make.

Visit http://www.superbabysitting.com for free babysitting tips, advice and how to claim a first aid book and babysitters handbook.

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Quality Daycare Services - Is It A Reality?

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The question on providing quality daycare services is no longer about whether it is a reality because to be successful in the business, you HAVE to provide quality services. If you are thinking that running a daycare centre is going to be an extension of babysitting, think again.

With the affluence of today’s society, customers have become highly accustomed to quality services. For example, when we walk into a diner, we are no longer satisfied with just good food. We expect the waiters and waitresses to be polite, we expect to be served some ice water whilst we wait for our meals, etc. Anything less than a good service and we will feel shortchanged.

So what exactly is delivering quality service in daycare? It simply means either meeting or exceeding the customers’ (parents’) expectations of the daycare service provided. A good technique will be to benchmark against your competitors. Gather as much information as possible about your competitors within 500 meters from you; know what are their charges, how many children they are caring for, why the parents have chosen to deposit their children at their facilities, etc. And use it as a benchmark to set the minimum standard for quality. For example, if all the daycare facilities in your neighborhood operate from 7.30am to 5.30pm, then all the parents will expect you to operate from 7.30am to 5.30pm. However, should you decide to operate from 7am – 7pm to accommodate parents who have to work a little later, it is exceeding their expectations.

What then are examples of quality services? Well, it depends on how much the provider is willing to spend. It can stem from providing better quality meals to developing better quality curriculum or even having a low caregiver to child ratio. Naturally, there is an element of cost pegged to it. You can choose to pass this cost back to the parents or absorb it and use it as a strategy to attract more customers.

But why go through all that trouble? Simply because you have to! Whilst providing quality service does not guarantee success, delivering poor quality service will most definitely be doomed for failure. As the saying goes, if you are not going to serve the customer, someone else will. Going that extra mile for your customer and providing high quality could potentially become your competitive advantage and the key to retaining your customers.

So, do you think providing quality daycare service should be a reality?

For more information or resources on starting a daycare, please visit http://www.setupadaycare.com/

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