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Old 11-24-2010, 07:04 PM
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Default Opening a 2nd daycare

We are thinking about opening a 2nd daycare in a new location, but how do we go about that? We can't afford to operate two daycares with monthly rent and only one daycare of kids. We don't know whether to go ahead and start the process on the potential new house (painting, etc), so we can get licensed. If we don't get several kids right away, we couldn't afford to do it yet, plus we don't know what to do about people working one or the other while it's getting established. Sure couldn't afford two more workers when it's already tough with just us two! So should we take in what kids we do get calls from, or wait until we get enough to pay for everything in the new daycare (rent, utilities, employees, fix up costs, equipment, etc). What should we do and in what order? Any tips? We're already licensed in our current daycare. How long does it usually take to get a 2nd location licensed? We don't want to put a whole lot of time and money into the new daycare so that it'd pass inspection, and be paying rent, getting it all set up how we want, just to find out we don't even end up with enough children to open a new one! Has anyone else ever opened a 2nd location, and how did you go about that?
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Old 11-27-2010, 08:17 AM
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I would think you would first do some research to see if your area would/could support another daycare center. Then I would save for about a year or so the money for start up costs and maybe if you can a month or so or whatever you estimate it would take to get enough dck to at least cover the expenses so you can start to build an income from it.
Another option is to get a business loan, but that is also risky, so my suggestion to is to do your research, weigh the pros/cons and see if it is a realistic goal.
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