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general advice, setting up a new childcare facility

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  • 10-11-2013 9:53pm
    #1
    janandbren
    Registered Users Posts: 32 ✭


    Hi there,

    I currently work in childcare industry, teach parent and baby classes, parent and toddler classes and go to creches/pre schools also teaching classes. I am doing this nearly 3 years and absolutely love it, am always being told I should be primary teaching or get into a business myself, as I am just an employee so not seeing the big financial side.

    I currently have 20k in savings and was wondering whats involved in setting up a childcare business. Would these funds be enough to start up, or would I need a further loan?

    I dont have a qualification myself, I know it is essential for staff teaching but If I am just involved in running the business would I need a qualification myself?

    Also how long on average would it take to start a business plan and get it up and running? 6 months? year or 2?

    Any opinions / advice appreciated as have no knowledge on this!


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    #2
    ninty9er
    Registered Users Posts: 9,366 ✭✭✭ninty9er


    Crèches are hugely labour intensive, do some number crunching on how much a mont's payroll would be, rent, then add startup costs and allow for a year or 2 of losses while you build a reputation and I'd say you wouldn't have much change from 200k, just to get to the point where you could break even.

    Lots of parents seem to think crèches are money trees given how much they cost, but not many make any real money. You'd be lucky to pull a decent salary out of it.

    You need to see if
    A) there's a market
    B) there's a suitable facility
    C) you can get the staff
    D) income can meet costs


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    #3
    cate3may
    Registered Users Posts: 83 ✭✭cate3may


    Hi
    I've just set up an afterschool so feel free to PM me and I'll answer any questions, i'd rather not put all the details on the main thread

    Cate


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    #4
    hcass
    Registered Users Posts: 628 ✭✭✭hcass


    What kind of classes do you teach in these creches? Is it a Clap Handies type thing or do you teach Montessori? Would you consider opening a business offering that type of business rather than a creche - which could turn out to be a headache and eat up all of your savings very quickly. I recently opened my own Childcare business (not a creche but a nanny agency/childcare advisory service) so while you could open a childcare facility think about other ways of suing your experience to open a business that could be more rewarding (both financially and personally than a creche.


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