Hi Spenc and welcome. I worked outside the home for many years and then was laid off. A friend of mine suggested I start a home daycare, but only if I was serious about starting as a small business. She mentored me and I have been loving my job, my dck's and being my own boss for the last 7 years.
I went through several inspections when I registered with a daycare referral (at their request). I had a fire inspection, health and safety inspection, police check, child first aid/cpr and a children's aid report that there has never been a report filed against me.
I show these reports to parents in the interview process so they know I am serious about my business and the care of their child.
The first year can be slow so I suggest having some funds saved up to fall back on. You never know though, depending on your area and with your credentials you may fill up fast.
Do your research, figure out how you are going to get your name out there (never say you are new) and see if you can find another caregiver to see her set up and ask for advise. Remember, your business is only as strong as your contract so have a good one as well as a parents handbook with all your policies. You can also come and post here of course and we will help you what ever way we can. Good luck!