Wednesday, April 2, 2014

Starting a Child Care Business - Chapter 11 Financing

Starting a Child Care Business - Chapter 11 Financing a child care business can have a start up cost ranging anywhere from under $1000 to over $100,000 depending on where and what type of facility you wish to start. If you choose to start your child care business at home, the cost is minimal. If you will start with a large facility serving 10 or more children or are  buying into a franchise, you will probably need financial assistance (unless you have a trust fund).

If you need to visit your local bank for a loan, you will need a business plan. The bank will not even talk to you without some sort of business plan in hand.

My recommendation is that you start small (what you can finance on your own), learn the business and then grow your business gradually over time. In some cases, your business will create enough revenue to finance itself.

If you decide that you will need to finance your project, develop a relationship with a bank now! Talk to people and find out which banks in your area are more likely to loan you money for a new business venture. More...

To purchase the book: A Practical Guide to Starting and Operating a Child Care Business, visit Networx LLC.

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