Home Daycare

For stay at home parents who are stuck in their homes all the time, opening a daycare in their house seems like the logical way to regain some of the income lost by reducing the family to a single income. But opening a home daycare isn't as easy as it once was. You can't just suggest to other families in your building that they send their kids to you during the day. There are licensing and regulation issues that need to be dealt with first. Here are some of the things that you will need to consider if you're thinking about starting a home daycare.

In terms of licensing, generally speaking any business, whether it involves selling crafted items from home or opening a clinic, needs a license from your local municipality. In many cases it's as simple as paying a licensing fee, but in other cases, such as running a daycare, you may have to prove your trustworthiness with training credentials and a criminal record check. They may require this of any other employees or volunteers who work for you as well. Check with your local municipality or chamber of commerce for more specific advice about licensing in your area.

To increase your chances of getting municipal approval for running a daycare in your house, you should have credentials or experience. Many parents think that raising their own child is all the experience they need, but raising your own child is very different from dealing with other people's children in a temporary caregiver relationship. Therefore in order to gain other parents' trust and improve your chances at getting licensed, you should take an approved course in Early Childhood Education.

Once you are licensed, one of the most important things you should do to protect yourself and your income earning potential is to purchase insurance. Many insurers offer special policies especially for daycare owners. If a child is injured in your home and you do not have insurance, the parents can sue you for enough money to ruin your business. Keep in mind that any activities that are more dangerous than normal, such as swimming or using a trampoline, will increase your insurance premiums.

While your daycare is operating, even if it is a fairly informal affair, you should keep detailed records of expenditures and income, as you will need to report everything for tax purposes. Any money you spend on your business, such as decorating your loft to appeal to children, buying food to feed them, or admission fees for a field trip to a local museum, can be written off on your taxes. Visit your national government website for more information on taxes for self-employed people. You may also find more helpful information here.





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Tuesday, October 17, 2017