Making your childcare business a success

If you're about to start a new business or make major changes to an existing business, you need a business plan.

Why? Well, in the first place because most banks, lenders and grant-givers require projects to have one. Even if you're not looking for financial support, a well-researched business plan will put you on a realistic path toward success. If you're planning to run a childcare business – whether private, voluntary or statutory – you’ll need to develop a business plan.

Writing one is nothing to be scared of – a business plan is a simply a set of information that says:

  • What you want to do
  • Why you want to do it
  • How and when you intend to do it
  • Who will be involved?

Even the process of creating a business plan is useful. It will help you to think your ideas through and, once you've written the business plan, it will act as a road map that shows you the way forward and the obstacles – such as a lack of money or the need for new staff or premises – you might meet on the way.

That said, all business plans are slightly different. Some lenders might ask you to provide a plan following their own format, while others will be happy with any format, so long as all the information is presented clearly.

Putting together a business plan

Executive summary SHOW

Aims and objectives SHOW

Background SHOW

Research SHOW

Competitors SHOW

Strengths, weaknesses, opportunities and threats SHOW

Promotion and publicity SHOW

The new services, premises, and people & resources SHOW

Managing risk SHOW

Finance SHOW

Action plan SHOW

Appendices SHOW