I quit my full time job and opened a daycare also. The first year was awful, really awful so a lot of savings is a good idea to get you through that year. It's difficult to get going but with persistence, patience, hard work and luck you can do it.

Don't think it's an easy job though and you will be relaxing a lot. Noooooooo, not if you do it right. And also, if you do it right you will never be bored. I've never been busier. Good luck.