An increasing number of parents want to be able to juggle both their careers and parenthood, which has led to an ever-higher demand for child care over the years. With this comes a competitive market for both affordable and high quality child care. Kindergartens on private establishments with high rent often mean extremely high prices, as well as the danger of inadequate care for children. Many parents are now turning to home-based child care, which can be more affordable than kindergarten alternatives, and has the potential to offer more personal, family-style care for the child.

If you have experience in education, child care or have children of your own, you may decide that it is a lucrative business decision for you to start a home-based child care business. Of course, there are many factors that you should take into consideration before doing so.

The benefits of starting such a business are in no short supply. You may first save on your own child care costs if you have young children of your own. You will also benefit from specific business hours, with very low startup costs. You do, however, need to make sure that you are obeying the law when it comes to taking out licenses, regulations and the appropriate type of insurance.

If you are considering a career change or a new business prospect such as starting your own home-based child care business, it is important to carry out all the necessary research. You should also make sure that you formally register your business and become familiar with local laws.

Source: The balance, “Home-based child care business,” accessed Oct. 12, 2017