MonctonMom
09-13-2012, 12:03 PM
Just wondering if anyone could give me a ballpark figure as to how much I should have in the bank to startup a daycare center? I imagine what province the center is located in will make a difference, but is there some sort of guideline that I could follow to assist me in making the financial plans?
I think I would have a realestate person show you some facilities, get estimates from contractors for any work/adjustments that need to be done, will the rent include hydro/water etc? You need to do your research to determine your start up cost, how quickly you can fill your spaces etc. and if you have sufficient start up funds that will help carry you while you start your operation. No one except you can really answer this question and the only way to do so is researching the industry where you live and talk to your bank eg line of credit.