A blog about running a family child care business focusing on the business side, including record keeping, taxes, contract, legal, insurance, money management and retirement planning.
02/13/2012
Help with Budgets and Business Planning
For
most family child care providers, the idea of preparing a budget or a
business plan is as appealing as a trip to the dentist. There are,
however some free, online tools that can make this easier.
My Family Child Care Business Planning Guide
contains a discussion of how to write a start-up plan and business
plan. The start-up plan is for new child care providers and covers
legal and regulatory issues, start-up costs, a special start-up expense
rule, and recommendations for what to put in your contract.
The
business plan is for both new and experienced child care providers. A
business plan is a blueprint for how you will run your business. It
includes an overview of what to include about marketing, insurance,
professional development, curriculum, record-keeping, and a financial
plan. It can be used to reevaluate and rethink your program, review
your business practices, and help you to meet your short and long-term
financial goals.
The business plan also covers how to prepare a budget, calculate a break-even point, and prepare a cash-flow projection.
To make the financial part of a business plan easier to achieve, my publisher, Redleaf Press, posted several templates you can use, even if you don't buy the book. Here they are:
In addition, the following interactive tools can be used online. Click on "Web Components" below the cover graphic of my book.
Although
I've tried to make the idea of business planning a little less
painful, I also don't encourage you to put off a Valentine's Day date
with your loved one with the excuse, "Sorry, dear, but I need to stay
home and work on my budget!"
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