Tom Copeland care the family child care business

Tom Copeland's Taking Care of Business

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.

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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:

Blank Start-Up Plan

Blank Business Plan

In addition, the following interactive tools can be used online. Click on "Web Components" below the cover graphic of my book.

Blank Budget Form

Break-Even Calculator

Cash Flow Projection

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!"

Image credit: www.redleafpress.org

For more information, see my book Family Child Care Business Planning Guide.

Posted by Tom Copeland at 01:23 PM in Contracts & Policies, Legal & Insurance, Marketing, Money Management & Retirement, Record Keeping & Taxes, Starting Your Business | Permalink