If you are a planner, yes a business plan can work amazing. For me in the beginning the most important part about the business plan was determing what age group(s) I wanted to work with, so then I knew what supplies were needed. Included in my plan was when I wanted to start, how I was going to integrate the first 5 children (meaning my goal was to accept 1 child per month over a 5 month period).

I think having a good grasp on what paperwork you are going to use ie contract and forms, cleaning schedule, defining the area of the daycare, if you have your own younger children deciding where you child can go if s/he doesn't want to be with the group and needs time alone, etc.

The other part of my business plan was anticipating the general costs of running a daycare and then determining my fees. For example when I started my home daycare I leased a van so that I could always be mobile with the daycare kids. This was something that was and still is important to me. So I know that I have to always have 3 1/2 children in care to make daycare costs, then the other 1.5 children goes towards my family's budget. Having a general cost outline will help in deciding too what fee range you are going to use. For example when I moved to Ottawa area 4 years ago the average daycare fees were $30 - 40, I needed to build up my reputation so I started at $37. Now 4 yrs later the average fee is $35 - 45 and I am charging families $44. I know that people working in the childcare industry generally aren't in it for the money, but ensuring that you are earning a profit is important.

Something else to consider in your plans is a business portfolio. Mine is very sad and needs and update, but it is as simple as a binder/folder that contains photocopies of your contract, your forms, your qualifications/certificates/diplomas, your emergency plans, and whatever you feel is important for interviewing parents to have (oh and references).

If you aren't a planner the bare minimum I recommend (if you aren't with an agency) is having a written philosophy, a good contract outlining what is important to you, and the necessary forms for your business such as photo permission form, field trip permission form, medical forms etc.

Your business plans can change, adapt, and grow as your business grows, I don't think many things in life stay the same