Help with Budgets and Business Planning
For most family child care providers, the idea of preparing budgets 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!"
Tom Copeland - www.tomcopelandblog.com
Image credit: www.redleafpress.orgFor more information, see my book Family Child Care Business Planning Guide.
