Inspirational and Empowering Child Care Business Owners To Build Successful Child Care Businesses

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Multiple Streams of Income Tips For Child Care Business Owners

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On October 1, 2013, the United States Government Shut down. In fact, when I first heard the news, I thought: Oh My gosh, this could affect subsidized childcare payments and food program funds.

In my current Child Care Facility, 61 % of my center’s  income comes from subsidized childcare payments;15% of the income comes from Food program funds and 25% comes from private paying parents.

Moreover, when I received the news of a Government Shut down; I was reminded of the importance of having multiple streams of income. In fact, If your Child Care Business is not highly subsidized, the government shut down may not affect you.

However, if your Child Care Business receives at least 50% of its income from government assistance; it is vital that you look into having multiple streams of income.

When you have multiple streams of income, you will have a back-up income source in the event of low enrollment or a government shut down.

Five years ago, I decided to try Internet marketing and that was a great way to supplement my income. Started up another business, was good for me, because I had kids on the brain all the time!!

Then as I began to grow an online Business, I discovered a gift of writing/Consulting and I began to build another stream of income.

Furthermore, when I experienced a slow season at my center, my Online Business was my back–up income.

I’m not suggesting that you take your focus away from building your business, however, I am simply inspiring you to never put all your eggs in one basket (as my grandmother used to say).

Multiple-streams-of-income

Here are a five ways to add Multiple Streams of Income:

  1. What talents do you have that you are not using in your Child Care Business?
  2. You can start an internet business for less than $100. Do you love to help others look or feel great? Try Mary Kay, Juice Plus+, or even Avon.
  3. Build a website, make money from the ads, sell information or products online.
  4. Write a ebook and sell it online.
  5. Are you crafty? Set up a vendor table at a local event and sale gift baskets, blankets, pillows,etc.

This is just a few ways for you to increase your income when there is not enough income in your Child Care Business. Do you need help getting started, leave a comment below or contact me for a Coaching session on my Inspired Business Woman Blog!

Child Care may be your Purpose in Life, however, there is more money to be made from your Passion!

Don’t let a government shutdown stop you from creating your very own financial freedom!! In fact, its time that you start thinking like a Millionaire and Increase Your income Streams!

Here is a Free Download from my 21-Day Mastermind eClub, —> Millionaires Have Multiple Streams of Income

Shiketa

Check out My upcoming Teleseminar Event, get Empowered for 2014! click here

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Spend Your Child Care Business Income on Purpose!

 

On September 28, 2011, I received eight boxes of shelving for my center! I was so excited to receive the new shelving and throw out the old shelving. The shelving came with a $1400 bill and I was given 30 days to pay off the balance.

The day that I received the shelving, the parents were in the process of raising funds to pay for the shelving. However, the money that the parents raised was not enough to pay the entire bill and I was forced to pay cash for the shelving with a monthly payment plan.

I must say that as of the date that I write this blog post, the invoice that I received for the shelving is now PAID IN FULL!!!

When I wrote the final check to pay off the invoice, I was reminded that when you create a goal and a budget for what you want for your business; you can have anything that you desire without the burden of loans!

Do you desire to purchase new equipment for your childcare business? If so, step out, create a payment plan for what you want and you will be amazed at what your business can afford when you spend your business funds on purpose!!

I look forward to reading your thoughts about this post. Talk to you soon!

Shiketa

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