The Welsh economy is in dire need of more childcare options. Studies show that around 20% of parents struggle to work because they have to care for their children instead.
This lack of affordable, reliable childcare options means that our country is hindered by a lack of skilled staff and doesn’t have the diverse workforce that it needs to grow and prosper.
As such, the country is in desperate need of childcare providers. For those who love kids and are passionate about early childrearing, building a business in the daycare market can be a rewarding and potentially lucrative endeavour.
While any entrepreneur creating a new company needs to make a business plan and register their name, in the childcare niche, there are many additional requirements.
To help you build your childcare company the right way, we’ve put together this handy guide for early years experts looking to start a new provider to support parents in Wales.
Whether you want to become a childminder who works with a few children in your own home or build a nursery for dozens of children and employees, you should use these tips to make the transition easier and find innovative ways to make your new venture a success.
Researching Local Childcare Needs
The first step in setting up any business is to conduct market research. For childminders, nurseries, daycare centres and all other childcare providers, that means exploring the local market and working out what services are already out there.
You also need to think about what children are around in the local area: for example, average ages, ethnicities and any additional languages spoken.
Once you’ve conducted thorough research, you can think about what gaps there are in the market and how you can fill them.
Getting The Right Funding
The type of childcare business you start will depend on the funding you’re able to get. The more money you can get, both for setting up the organisation and maintaining it over time.
Consider whether you can get government funding to cover free childcare places and also if there are other grants and low-interest loans available to you.
Most of the support available for childcare businesses has to be applied for and isn’t automatically offered, so do your research to find out what funding you can apply for and how to get it.
Creating A Safe And Engaging Space
When you start to think about how you’ll provide your services, you need to consider where the children will spend their time.
For individual childminders, you’ll probably be hosting your charges in your own home, so you need to make sure that it’s safe and that you clearly designate where the kids can and cannot go.
If you’re launching a larger childcare business with space for 5 or more children, then you need to find a suitable property and create a safe, welcoming space for your potential charges.
Some additions to consider include:
- Fun artwork: When you’re decorating the walls, you need to make sure you add fun, engaging artwork to make the space look welcoming for kids and parents alike. You should also leave space to hang up crafts from future charges.
- Clear Signage: It’s important that you put up clear signs for kids, workers and parents, so they can clearly find the bathroom, cloakroom and various classrooms. Clear signs are also important for safety, as you need to label the emergency exits and meeting points to ensure everyone knows where to go in case of an incident.
- Comfortable Seating: Chairs and tables for the kids to play on, relax in and craft on are essential.
- Changing Spaces: Very young children might need their nappies changed, so alongside bathrooms for kids, you need to instal dedicated changing spaces.
- Outdoor Playground Equipment: Kids need to spend time outside, so consider installing fun playground equipment from PlayEquip to create a low-maintenance, fun space for kids to play in.
- Space For Employees: Most larger childcare providers will need at least one, if not more, employees, so make sure they have a space to take breaks in and to store their items.
- Sensory Toys: For young kids, sensory toys can help them to explore the world around them, so consider getting a collection of fun items that will entice every sense.
Every nursery is different, but these are some of the main features that you should consider for your space.
Marketing Your New Childcare Business
With everything set up for your new childcare business, you can start advertising and promoting it to your potential clients.
That means finding the right platforms, including social media sites, parenting forums, local bulletin boards and other spaces. You could also make the most of your premises by using banners outside it to catch the attention of passers-by.
The right marketing and advertising can make or break any business, so find ways to get your company noticed by parents in your local area.
Summing Up
Ultimately, there are many factors to consider when launching a childcare company, some of which we’ve touched on here. This article gives you a rough overview of everything you need to consider when launching your new business in the childcare market. Still, you should check with the Welsh government’s guidelines on setting up a childcare business to ensure that you are fully compliant with all laws and regulations.
With the help of these tips, you’ll then be able to give your new company the best possible start in life. Before you know it, you’ll have a string of returning customers and beloved children whose futures you can help shape.
