Extension is proud to be facilitating the Wisconsin Child Care Business Initiative – a business development opportunity for childcare providers with support from Wisconsin Early Childhood Association and Wisconsin Small Business Development Center. Wisconsin Child Care Business Initiative includes workshops on essential topics, individual planning with professional business consultants, and networking with presenters and classmates.
Through instruction, guest speakers and coaching, Wisconsin Child Care Business Initiative supports childcare business owners looking to improve or grow their operations and helps new owners chart their course to success.
Wisconsin Child Care Business Initiative: Build It Strong: Child Care Business Foundations Course
- Five “Build It Strong” courses offered by trained WECA staff between now and the end of September 2021 (maximum of 30 participants per course).
- Two trainers per course (one who owned/operated a family child care business and the other with center-based administrative experience).
- Each business course includes either eight 2-hour session or four 4-hour sessions (16 hours of content).
- Program highlights include: basics of child care business, operations overview, outside service needs (e.g., insurance and legal), accounting and record keeping, funding strategies, determination of program type (e.g., LLC, C-Corp, group center, family child care), and professionalism in early child care education.
- All for-profit participants will receive one-on-one general business consulting services from the WI SBDC.
- Sessions are presented online via Zoom, with simultaneous interpretation in services as needed.
- Participants will receive Registry credit for each completed session.
Build It Strong: Child Care Business Foundations Schedule
Space is limited to 30 participants per course, so sign up now! We are prioritizing registrants by their region as defined by the Bureau of Early Care Regulation.
Time: 8:30 a.m. to 12:45 p.m.
June 12 and 26; July 10 and 24
Contact: Jessica Spayde
Time: 6:30-8:30 p.m.
June 8, 15, 22, 29; July 6, 13, 20, 27
Contact: Sarah Hawks
Time: 6:30-8:30 p.m.
June 7, 14, 21, 28; July 12, 19, 26; August 2
Contact: Melissa Kono
Time: 6:30-8:30 p.m.
Dates: Aug 3, 10, 17, 24, 31; (no class Sept 7) Sept 14, 21, 28
Contact: Michelle Grimm
Time: 8:30 a.m. to 12:30 p.m.
Dates: June 5, 12, 19, and 26
Contact: Jessica Beckendorf
Session 1: The Iron Triangle of Child Care Finance
In early education we help children learn about shapes all the time – but did you know there’s one shape you must know as a child care program leader to make your program as financially strong as possible? It’s the triangle – the Iron Triangle. Join us for an interactive session bringing financial information to life. Learn how enrollment, fee collection, and price-setting can make or break your business. There will be time for your questions and to explore what this means for your child care business.
Session 2: Business Operations – Part 1
Operating a child care program means more than ABC’s – come learn about the BCD’s! Budgeting, cost (or how to set prices), and deductions are key elements of a successful business. This session brings budgeting to a level that easy to access and meaningful, exploring typical costs and sources of income. We’ll also explore how to set costs for your services in ways that help ensure you can keep your doors open. We will begin our investigation of tax deductions and how they differ between group and family child care programs. And as a bonus, we will examine the ins and outs of marketing your program. There will be time for your questions and support for you to apply these ideas to your setting.
Session 3: Business Operations – Part 2
Opening or expanding a child care business requires understanding the financial impact of your policies and practices, creating a business plan, and identifying the technology tools that can help get you to your goal of a financially stable program. In this session, we will explore the elements of a business plan (including templates to use). We will investigate the ways your policies or procedures may be costing you money without even knowing it. And we will review the benefits of using technology to remove some of the administrative burdens of running a child care program. There will be time for your questions and support for you to apply these ideas to your setting.
Session 4: Engaging Outside Services
When it comes to running a child care business, it may feel like you have to do it all! In reality, there are times where it makes sense to engage outside professionals to take care of some of the business tasks. Explore what can and can’t be outsourced, as well as hear from industry experts in fields related to supporting child care about how to identify a good fit for outside services. There will be time for your questions and support for you to apply these ideas to your setting.
Session 5: Accounting and Recordkeeping
There’s more to running a child care program than planning great learning opportunities for children. A successful program also includes planning on the financial side. In this session, we investigate some of the early childhood quality standards around financial management and planning. We explore what types of records need to be kept to support financial wellness and operations. We dig into how P&L statements help us as business owners and we define the difference between financial planning and financial management. There will be time for your questions and support for you to apply these ideas to your setting.
Session 6: Identifying and Prioritizing Funding
Tuition fees from families aren’t the only way to fund your child care business. Join us for an interactive session exploring the federal, state, and local opportunities for additional cash flow for your program. We also consider the pros and cons of offering transportation as a part of your program. And we spend time discussing how to handle additional program fees. There will be time for your questions and support for you to apply these ideas to your setting.
Session 7: Setting-specific Considerations for Group and FCC child care programs
Before you can open the doors for your child care business, you must determine your type and legal structure. In this session, we explore several possible legal structures for programs as well as spending some time highlighting some specific differences between group and family child care. We also dig into funding needs for programs and offer some clear steps on creating realistic, achievable financial goals. There will be time for your questions and support for you to apply these ideas to your setting.
Session 8: Professionalism in Early Childhood Education
Professionalism is a key component of any successful child care business. We explore several facets of professionalism from strong contracts, to knowing where you find your early childhood membership organization. Additionally, we introduce specific organizations that support early educators with training, quality standard coaching, accreditation, licensing and pre-licensing and so much more. There will be time for your questions and support for you to apply these ideas to your setting.