Starting a business without creating a start-up budget is like going to the grocery store without a shopping list. Have you ever noticed that when you go to the grocery store without a shopping list, that you tend to over spend or make impulsive purchases?
Well, it is vital that you avoid impulsive spending during your start-up process, because every penny counts!
Starting up a business and not having a budget is very similar to the scenario that I described above and this is why it is vital that you to create a start-up budget for that child care business.
Moreover, having a start-up budget will provide you with an overview of how much money it will take to start that child care business.
Let's take a look at a sample budget for starting up a small child care center:
** Your start-up budget is not limited to the items listed below
Down Payment on the Building $2,000
1st month's Rent $2,000
New Sign $1500
Classroom Equipment $8,000
Office Equipment $2,000
Used Van $5,000
Building Renovations $5,000
Marketing Materials/Open House $2,000
Playground Equipment $2,000
Kitchen Equipment $3,000
Business License fees, etc. $300
Total Start-up Cost:$32,800
*The sample budget listed above is only meant to give you an idea of what needs to be included in your start-up budget. Also, if you are expanding from a home-daycare to a center, you may not need to purchase much office equipment and and you may already have classroom materials, which will lower your classroom equipment cost.
Much Success to You!
If you need my assistance during the start-up process, contact me today! Be sure to follow my Child Care Business tips on twitter @ccarebusiness and @daycarestartup