Tag: pricing

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How to Start a Home Daycare Business

Because more than half of the workforce consists of parents, home daycare services are needed more than ever before. The Bureau of Labor reports that sixty percent of mothers with children under six and nearly ninety-four percent of fathers with kids younger than eighteen were employed in 2020. Meaning people need a safe place for their kids to stay while they go to work. A home daycare service can take some time to start but is profitable once set up and running.

 

Here are five steps to follow to start a profitable home daycare business:

 

Step One: Determine Your Community Needs

Spend time doing proper research to see what kind of daycare services your local community needs — for example, infant services or after-school daycare time. Providing exactly what your community needs is the first step to running a successful business.

 

Step Two: Understand Local and Federal Requirements

Every state and county in America will have different requirements to follow to run a safe and legal home daycare center. For example, you can only watch four children under the age of twelve months by yourself in the state of Florida. However, once they turn three, you can watch up to fifteen.

 

Step Three: Obtain a CPR and Other Similar Certifications

Being around children means you need to obtain proper certifications and paperwork to keep them safe. By far, the most important one is a CPR certification. Then, if a child gets injured or needs emergency services, you will know what to do while more help arrives.

 

Step Four: Choose a Name and Register Your Daycare

Choose a name that is easy to remember and makes sense to the services you want to provide. For example, if you noticed your community needs more after-hours services, choosing a name similar to “The Local After-Hours Home Daycare Center” is an excellent choice. This lets your customers know right away to whom you are marketing.

 

Step Five: Develop a Daycare Program and Set Your Rates

After completing your research, it is time to create your program and set your rates. Keep in mind the number of children you can watch at one time and what extra services you can or need to provide, such as homework help and providing meals or snacks. All of these costs, time, and effort need to be accounted for. Stay firm with your rates, and don’t be afraid to be competitive. If you have the skills, knowledge, and resources, your local community will have the means and desire to pay your prices.

 

These tips will get you started fast with your first daycare service. First, obtaining the proper certificates, training and resources are vital to operating a safe and profitable home daycare business. Then, find your value, set fair prices, and don’t forget to use the power of word-of-mouth marketing to promote your home daycare business.

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How to Start a Home Bakery Business

With state cottage laws owning your own home bakery is now possible. It is far easier to get started and more affordable than a store-front bakery. Not only that, but it also gives you more freedom and control over your business.

 

The top ten percent of home bakers make roughly forty-three thousand a year or more. Due to laws, your income potential is capped but can provide a nice work-life balance and provide enough income to live the lifestyle you desire. Eventually, your home bakery business can be expanded to a storefront or online bakery if you wish.

 

The following are five essential steps to follow to start a home bakery business that is profitable and sustainable:

 

Step One: Pick Your Baking Niche

The first step is to develop your menu and decide who your target audience is. A home bakery business means you have to do all the work and won’t have the space to offer as many items as a traditional bakery.

 

Step Two: Don’t Forget About Marketing

All home bakeries must have a website and one social media page to advertise their work. Without it, you would need to rely on word-of-mouth marketing which can be a slow process solely. A website allows you to get your information and treats in front of people quickly, no matter where you are.

 

Step Three: Price Correctly and Value Your Time

Start pricing your products correctly from the start and don’t allow haggling of any kind. Being a home bakery business means all costs and time go through you. If you lower your prices, you will have to pay for it in the end. Figure out how much time it takes to complete each product, the full costs of each recipe down to each ingredient, and the amount required to get it done. Please put this information together in excel files to keep them organized and create pricing estimates within minutes. This means you should be able to price one cookie or one-hundred cookies using a simple formula easily.

 

Step Four: Remember Your Legal Requirements

Be sure to register your business correctly with your local, state, and federal government. Beyond a business license, you also need to get familiar with cottage laws in your state. Each state has different rules and limitations to what you can sell and regulations on how to sell them. For example, each product you sell typically needs a label of the ingredients and that it was made in a cottage food kitchen. This way, those purchasing your items understand exactly where the products are coming from and ensure their safety.

 

Step Five: Develop Proper Contracts

Before you finish or start a baking job, always create a contract, and get it signed or agreed upon. This way, there is no confusion while you create the product or when turning it in. The more information you get upfront with confirmation, the more you can protect yourself and your profits.

 

If starting a home bakery is something you believe you want to do, be sure to follow each of these steps. Understanding your local cottage laws and legal requirements is essential to running a profitable home bakery. From there, you will need to market and continue to perfect your craft. Word of mouth marketing and providing superior cakes and other sweet treats are necessary to succeed and profit within this industry.