Daycare owners. do you make great money with your business or just break even?

Question

i know there are lots of expenses. do you make a well to do profit?

Answer 1

I have run several day care programs. If you do it right, you do not make great money. Having enough staff and not overcrowding the classrooms means most of your money will go to staff. If you pay an adequate wage and offer some benefits you will keep your staff. If you cut corners by paying less and not offering benefits you will have a constant turnover. I know many people who love their centers, but none are getting rich.

Answer 2

We have a home daycare and my mom makes about $200 a week per child and right now she takes care of a 3 months old baby and 4 toddlers plus an 8 yr old and his 12 year old sister so it's an excellent business to be in.

Answer 3

Do not open a daycare if you are looking to become rich!! It is a business that rewards in ways other than money! You must have a love for children and a desire to make a difference in their lives. It is definately not a career in which you will make a fortune.

Answer 4

49% of your income will go out in payroll.  then you'll have rent, insurance, food costs, supply costs, gas for vehicles, advertising misc. expenses....see where i'm going with this.

no, you won't get rich.  you'll make a modest living owning your own center/home facility.  you can make more if you let someone else own it (la petite, kindercare, etc) and you are the director.  they have all the expenses and you have your salary.

Answer 5

Amen to Grandma Dorthy :-)

IF YOU DO IT RIGHT, she said.  Having a great program takes money and those "best" programs do not make a great proft and the owner's goal is not to be rich but to make a difference in children's life.

It seems to parents, from their side, that we do but they don't understand the "invisible" costs.

The turn over rate in daycare/preschools are so high because of not being payed well for what we do.  Preschool/child care is not easy work and it can be stressful.  Unfortunately many daycare owners haven't learned yet that it's more expensive to pay minimum wage and have to keep replacing people than it is to get a good staff group and keep them.  There are MANY invisible costs in having to rehire.  (Time is included in those invisible costs).

Answer 6

sorry im not but yes they do