How much does a daycare/childcare center owner make a year- salary?

Question

I'm a teacher with a dream of opening a daycare center. About how much profit does a daycare owner & director make a year? I live in Michigan, so it'd help if you are from here. Thanks.

Also, any grants for start-up??

Answer 1

Look to your state for grants  of even start at Hud and look into community development projects. but I know from a parent stand point and person working on my daycare start up plan as well. On average daycare is about 80-180 a week per child depending on the age group. The younger the child the more that it costs.

Answer 2

Directors at daycares in Ohio average around 40,000 a year, and the assistant makes about half that, and your lead teachers should make at least 9.50 to 10.00 an hour, and your assistant teachers should make 7.50 to 8.00 and you will need a float, a cook, and some subs.  I hope you are planning on having a lot of kids, you will need them to break even.  sorry, but this job isn't about the money.  It is about the love we can give to the children.  good luck to you

Answer 3

It depends on many many factors and often you don't start pulling in a real profit until years down the line if you are the Owner. It is just like with any other business. Even though you may get grant money it may not be enough to cover all your salaries-extras, etc. It takes time to build up your business.

Answer 4

When I lived in Michigan and worked as a director of a day care there was a community organization that helped people start day care businesses either in home or center based. They helped them with grant writing and everything. Here is the 4C of the UP site

http://www.4c-up.com/

You can probably take a look around their site and find a similar site in your area or the state association they are affiliated with.

Answer 5

I'm not from your area, but on the first day of my ECE training the teacher said if we were in this field to make money, we picked the wrong career. Most daycares barely break even. The insurance costs alone are phenomenal. From my experience it is the centres that run as a drop in type centre and are not Ministry regulated that make the most money. In Ontario, licensed centres are mainly non-profit, as for profit centres do not seem to last. It is the non-profit centres that get the grants etc. Often it is those grants alone that keep the centre afloat. My cente is small, 21 children, and we have large wait lists and we still do not make enough to pay our bills, without our grants to subsidize our costs, the fees would be astronomical.

In Ontario the first step to opening a daycare is to have a business plan, and get your space approved by public health and the Ministry. Once you are approved and ready to open you can apply for a purchase of service agreement with the Region. This will get your centre on the books for wage subsidy and improvement grants. As you can see it's a bit of a toss up because by the time you get your grants, you would have to be open to the public.