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Identifying and Mitigating Risks Should I do it, or should I not?

These are logical questions that many people face every day. In the daycare business it is the same decision to make. Do I really need to have item A or B? Can the daycare work without them? There are many risks to think about in opening up a daycare and I will discuss some of these with you for instance license, zoning, insurance, safety, and health. No parent wants to have their child/children in a place that is not licensed. Daycare facilities need to be licensed. Not only does this provide parents with peace of mind, it also serves as a way to show parents that your business has met health and safety codes set by local or state governments. License fees are set by the state and you should consider this cost when factoring operating costs. (Schindler, 2011)In acquiring a license you want to make sure that your building is zoned for a facility by your state. Otherwise your facility can be shut down. Another risk in having a daycare is insurance. Insurance costs are high, but a daycare business simply cannot operate without insurance. Indemnity and liability are required for this type of business. But, since you will have eliminated potential hazards, insurance will be simply that: insurance in case of an accident. (Schindler, 2011)Lets say that bit and john are playing and john gets hurt, you want to make sure that if Johns parents take John to the hospital you can cover that bill and any inconveniences caused by that injury and that John can continue to come to your facility because you took the steps to cover your business. This leads me to the next risk that I want to talk about with you, safety. (Association, 2011) States have strict health and safety regulations for daycare centers, whether the business is located in your home or in a separate space. Check and double check the property to determine its appropriateness for this type of business. Safety measures, including child-proof gates and safety locks, are top concerns for licensing agencies. Outside play areas are also included in these rules. Any potential safety risk must be eliminated. Fire safety concerns will need to be addressed. Typically, state agencies provide a checklist of safety items that daycares need to cover, but you should still use common sense and good judgment when evaluating the property. Finally, the last risk I want to discuss is health. Since daycares provide daily care to children, it's only natural that health concerns need to be considered. Policies regarding care for ill children need to be addressed and followed. Your daycare should have adequate first aid facilities and supplies in case an emergency occurs. Keep toys, equipment, and facilities sanitized. This will help reduce germs from spreading. These risks should be thought about prior to starting a daycare business. Even the best made plans involve minimal risk, but when the health and safety of children are involved, all possible hazards need to be considered. We must be SMART about our efforts to get this facility up and going.

Specific - Insurance, zoning, license, safety, and health are all the issues that must be addressed. Measurable - We have to be able to open in a month or so if we purchase the insurance and complete the licensing standards by next week we will be ahead. Make sure that the zoning is completed and that we have all safety tools needed and in place by week three. Get shot records and health charts in place for each child to be completed by doctor and parents. This has to be done before the child is accepted to the facility. Achievable - Every risk addressed above can be taken care of with maximum effort by owners and staff. Relevant - In order for the daycare facility to open the risks mentioned above must be addressed. Timely - This facility can have these things done and addressed in a months time. By doing so, the facility can be opened no later than February 1, 2012.

References Association, J. A. (2011, September 1). PubMed. Retrieved December 23, 2011, from NCIB: Schindler, L. (2011, December 22). Life123. Retrieved December 24, 2011, from Insider Pages: