The first step is to consider developing a child care business concept. Develop several statements that summarize your service, who your customers are and who will pay for your service, why customers will want to use your service and how your service is unique, where your service is located, when you will begin to offer the service, and how you plan to promote this service.
After completing this initial step, you can move onto developing your child care business plan. A well-thought-out plan might include a cover letter, a title page, a table of contents, an executive summary, and five sections (management and organization, service plan, marketing plan, financial plan, operations plan). It might also include an appendix with supporting documents.
• The cover letter is written specifically each time you wish to present your child care business plan to someone (for example, any investors or lenders typically require a business plan) in order to borrow money for a business. It introduces you and your business ideas to that individual.
• The title page links you—the potential business owner—to the reader.
• The table of contents makes it easier for your reader to find specific information.
• The executive summary provides a quick and convenient overview of the plan.
• The management and organization section answers key questions related to business success such as who is running the business, why your business will be a success, etc.
• The service plan features the services you will provide in detail.
• The marketing plan reveals how you will promote your business to customers.
• The financial plan provides details of the financial outcomes of your business plan and shows how your financial goals will be accomplished.
• The operations plan summarizes how your business will operate through established policies, specific procedures, and essential documentation.
• The appendix could include additional information that supports the features of your business plan.
