Trafford Publishing: Planning, Promoting and Managing Your Childcare Business

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Planning, Promoting and Managing Your Childcare Business

by Colleen Martinson

180 pages; quality trade paperback (softcover); catalogue #03-1688; ISBN 1-4120-1310-0; US$19.95, C$25.95, EUR16.95, £11.95

A comprehensive business resource manual for childcare professionals. Topics include grant writing, fundraising, business planning and banking.

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about the book about the author sample excerpt catalogue info

About the Book

Planning, Promoting, and Managing Your Childcare Business is a comprehensive guide to the business of childcare. Topics include grant writing, fundraising, business plans and banking with information geared specifically for childcare professionals. Learn the ins and outs of the grant writing process. Examine the components of the quality grant application and get inspired to write a winning grant. Discover great ideas and resources for creating budgets and event planning. Learn how to write a great business plan and why this is so important. Explore the helpful tools the banking industry offers and how to use them in your business.

About the Author

Colleen Martinson has experience as a program director of a family child care and group home, director of a childcare center, State Regional Representative for a federally funded state childcare program, and a personal financial representative with a national bank. She has a Bachelor degree in Economics and Political Science from Eastern Oregon University.

Sample Excerpt

Who This Book Is For
Welcome childcare professional. I would like to take a few moments and introduce this book to you. This book is intended for the purpose of adjusting your business to meet the professional standards of the business industry. Whether you are new to the profession of childcare, or have been providing service to parents and children for a decade, this book is meant to give you the business tools and motivation that reward your efforts with professional respect, better pay, and a more stable business. This is a big order, and it won't happen all at once. It is possible however. I know, because I have seen and practiced the professional principles this book is based on. Lets get started.
First I must tell you, this book is not a 'how to' book on starting a childcare business. The information a person needs to start a childcare business is readily available. In most cases that information is free of charge through online resources such as the Childcare Bureau, and state agencies such as Childcare Resources. Business startup should always include state regulations and a close relationship with the regulating agencies in your area. If you have not already started that process, do so now.
This does not mean that you will not benefit from the information included in this book. This book is appropriate in all stages of the childcare business. However, it does not include the basic legal requirements, age appropriate activities information, nutritional guidelines and early childhood development information you need in order to have a healthy childcare program. These topics must be the foundation of any quality childcare program. However, no matter how proficient you are in early childhood education, you may not stay in business long if you do not understand the business practices used in our competitive market driven economy. That is what this book is for. This book is intended to supplement the already sound understanding and practice of early childhood development. This book and its chapter exercises provide the resources and tools to be professionally successful. As you read and work through this book with your own unique childcare program, know that value and appreciation for what you do with children everyday, is written in every line.
The first chapter provides the foundation for chapters two through seven. I explain why I have chosen these business topics and professional subjects, and what they can do for the advancement of your professional goals.
Dream Big: Why Have A Business Plan?
A business plan is a place to dream big. A business plan is the picture of where you are, where you want to go, and how you are going to get there. The business plan chapter of this book is going to ask you who you are. Is your business a sole proprietorship, partnership, corporation or association? What ownership do you want to be? This is a core part of your business. With this decision, your business has a multitude of options for growth.
Where do you want to grow? Your business plan can be useful in many areas of your business. It can be a place for you to keep track of your goals, and measure your progress. It can be used to secure lending from a bank or the SBA lending program. It can assist in purchasing a new building or addition for your program. You could use your business plan as part of a grant application. In the very least, writing a business plan will provide a valuable experience in writing, goal setting and the management of business resources. That experience alone makes the process well worth the effort.
Financial Tools: Is Business Banking That Important?
Business banking is the single most important tool you can use to keep you financially aware of your business. It provides the place to access your true business costs and revenue. When you separate your business costs and revenue from your household expenses, you will be provided with a more accurate picture of how healthy your business truly is. Maybe you don't want to take your business that seriously, you say. OK. Fair enough, but a business account does more then that. Consider these benefits:

Easier tracking of expenses and hold yourself accountable for those business expense choices.
Business loans require business accounts.
If you wanted to sell your business you would have a record of its profits to show a potential buyer.
Easier tracking for taxation purposes and helps to CYA (cover your ass) if you were to be audited by the IRS.
You will have the opportunity to make goal driven financial business decisions and see those financial goals being met.
Advanced business management skills come from better-cost management.
Business accounts are eligible for expanded financial services.
A Credit and Debit card payment system is available on business accounts.

Customer Retention: Why Have A Customer Service Plan
Why have a customer service plan? The simple answer is that it is less expensive to keep a customer then to attract a new one. The philosophical answer is that disputes between the client parent and the childcare provider have a negative impact on the children in care. In contrast, a consistent childcare environment has a positive impact on the lives of all those involved. And lastly, I believe that the childcare professional deserves to be acknowledged and respected beyond that of the baby sitter. A customer service plan is the place to put into writing the commitment the childcare provider has made to the child, family and the community it serves. It provides a place to set reasonable boundaries and responsibilities. Does that sound a bit serious? I believe it is. While the day-to-day activities of childcare appear to be fun and games, some of the family issues childcare providers face are very serious. A customer service plan address values, ethical consideration, communication, and a standard of professionalism. The childcare industry will not grow without addressing these issues.
Funding Sources: What Would You Write A Grant For?
Dream big!What would you write a grant for, and whom would you write it to? That is such a great question. I never get tired of hearing it. The short answer is that you write a grant for anything you believe would further the service you provide to children and families. Then you would write the grant to a funding organization that has the same interests and values as your program. To spark your imagination, allow me to share what childcare providers have shared with me:

I want to write a grant to fund childcare and preschool services for children in shelters.
I want to write a grant for outdoor play equipment and a drinking fountain.
I want to write a grant for a new playroom.
I want to write a grant for parenting classes for the community.
I want to write a grant for an art and music teacher to come once a week to the preschool.
I want to write a grant for an on call nurse to serve all the childcare programs in my community.
I want to write a grant for a childcare provider conference.
I want to write a grant to fund a lending library for families.
I want to write a grant for staff training in early childhood education.
I want to write a grant for public awareness of child abuse and neglect.
I want to write a grant to provide safe and fun activities for latch key youth.
I want to write a grant for infant care equipment.
I want to write a grant to provide childcare for teen moms so they can attend evening classes.
I want to write a grant to bring a language teacher in to teach Spanish.

Fundraisers Are Multipurpose Business Tools
The well-planned and successful fundraiser accomplishes many tasks. Consider some of these:

Its fun!
You get to interact with customers and potential clients!
You advance community awareness of your program!
You get to raise $!
You can advance the public awareness of the childcare industry as a
profession!
Publicity!
You gain professional experience!
Personal satisfaction for achieving a goal!

Does this sound to good to be true? Well, yes and no. Fundraising events can be just what you want. What the above list doesn 't tell you is that they can also be disastrous. Fundraising can be a lot of work, with very little (or no) monetary advantage. I have included a chapter on fundraising that sheds some light on both these aspects of fundraising events. How well you plan your event and what your expectations are for the event have a lot of influence over the outcome. As with everything in life, their will always be some amount of uncertainty when you go forward on faith. That does not have to keep you from trying. The point is to know what you want to accomplish, how you are going to accomplish it, and then do the work. The rest is a leap of faith.
See How Easy It Is To Dream Big Dreams?

Catalogue Information