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Scared to venture into business ownership...advice

carlyreneecarlyrenee member
in Working Moms
I am currently an elementary teacher in MI.  I have tossed the idea around for a few years of starting a medium sized daycare center.  I was thinking that I would continue to work while I hired someone to run the daycare until it was thriving and I could then step out of my teaching job if I feel I need to someday.  I am simply scared to take the steps to get there for fear of failure.  I was just looking for any advice or words of wisdom from people who have tried something different or started a business.  Thank you for any advice.
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Re: Scared to venture into business ownership...advice

  • thedashthedash member
    I started my own business recently and I will say that it's important to speak with people who have started your type of business before to get their perspective. Even with the advice I got, there has been even more work than I anticipated in getting things off the ground. I couldn't imagine staying in another full time job while I did it, or leaving it in someone else's hands while the business is so new. Of course I'm sure daycares are a completely different industry than I'm in, but that's my experience. 
    DS: 2/17/11          DD: 9/4/13
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  • RoxyLynnRoxyLynn member

    If you're starting a daycare center of "medium" size, you'd be hiring a number of people - a director/business manager, plus care providers, in addition to whatever accounting and legal support you would require.

    My DH is self-employed and the positives are fantastic and the negatives are significant.  It's not for the faint of heart!  I agree with the PP's advice to talk to some other folks in your area who have done it.

    Also, have you researched your state's requirements?  I was involved on the licensing side years ago and there were very specific regulations about how many children of what age each staff member could accommodate, how prescriptions needed to be stored, etc.

    A lot of colleges and universities offer non-credit adult education programs.  You may want to see if there's one locally on starting/running a small business.

    Best of luck!

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