No Limits Ladies.com

Last week, we started discussing things to consider when starting up a daycare business (research for a friend who recently has decided its "too hard" even with Fiona's how to video).

One of the recurring questions you'll hear me ask businesswomen and investors is what they feel the biggest mistakes newbies make. Why? Because I feel that if we help you prevent making that mistake, these posts are worth our investment in time.

So what does Fiona feel is the biggest mistake entrepreneurs make when setting up a daycare business?

"The biggest mistake entrepreneurs make when setting up a day care business is not doing adequate research before opening and that includes a business plan. Too many people gloss over these aspects of starting a day care believing them to be unnecessary and adopting the 'how hard can it be looking after cute kids' mentality. The fact is, exhaustive research and a thorough business plan are the most vital steps you can take in order to open a daycare. You have to know what you are getting yourself into, you have to be prepared for the worst case scenario and the more knowledge you can arm yourself with in advance the better. Anyone who reads my articles knows how I advocate 'on the job' practical experience prior to starting any childcare business. Go to to an established child care provider, get a job or offer your services and learn from those who know, on the ground. That same diligence is required when formulating a business plan and every attempt should be made to ensure an accurate picture of what will be involved in running your business."

And what are some things to look out for?

"Childcare can be a minefield for potential legal issues if you have not done your research and set up strong policies and procedures. These form the framework of your day to day operations and go a long way towards ensuring that you, your staff and children are protected from any incidents that may result in legal ramifications. They provide uniformity across the board and indicate to everyone how things are done at your facility thus protecting all concerned e.g. your safety statement highlights all potential hazards and indicates steps to be taken by you and/or your staff to eliminate said hazards. When setting up your business you will also ensure that you have adequate insurance, fire safety, vetted staff, secure premises, hygiene standards and all other elements that ensure a safe environment."

Of course, there is plenty of more information on Fiona's site and blog. A must read for anyone considering the business.