With the national financial outlook becoming increasingly grim, and parents having to sometimes acquire more than one job a piece, the need to hire a nanny service has increased considerably. When it comes to the safety and welfare of their children, parents are more than willing to spend money on a nanny service that is trustworthy, as well attentive, protective and caring. No matter how bad the economy becomes, there will always be a need for nanny services. The start-up costs are quite nominal: you’ll need a business license, a computer, business software, workers agreements, clients agreements, a commercial account, and a passion to succeed. Starting a nanny service is a great investment and can be successful if great care is taken to select the right candidates who are not only present physically, but who also can offer excellent expertise that comes with the position.
Check out other nanny services. Don’t steal their ideas. See what kind of services are offered, and note how things can be improved, upgraded, or discontinued if you were to implement them into your service. Take that extra step and speak with the owner or manager of the nanny service and let them know that you admire how they run their business, and that you were interested in doing the same thing. Create a business plan. Creating and presenting a business plan addresses three things: what you need to start your business, and how much resources you’ll need; what it will take to make a profit for your business and how much time it’ll take, and what important information all potential customers, investors and vendors will want to know. When creating your nanny service business plan, don’t forget to include the following: the Executive Summary, which gives tight overview of what the plan discusses; the Market Analysis, which demonstrates the in depth knowledge that you have regarding the nanny service industry; the Company Description, which gives a brief description of what your service is about; Organization and Management, which details who will be in charge and how the service will be facilitated; Marketing and Sales Management, which gives information on how you plan to create a customer flow and how you plan to maintain it; Service and Products offered, which tells of what is being offered; Funding Request, which asks for financial resources; Finances, which tells of how the money will be used and the Appendix, which can be provided on a as-per-needed basis. This can discuss who all were involved in the creating of this business plan, etc. Hire the nannies. Be very careful with the selecting of the prospects. It is recommended that steep background checks be done, for both the safety of the children and your business. Do not hire the first person who answers your ad; don’t hire the seventeenth person who answers your ad. When scripting the ad, let all who apply understand that police background checks will be conducted, and if anything that isn’t acceptable arises, applications will be discarded, and if need be, police will be called. Carry out all threats made, especially when ot concerns placing nannies with young children. Set your fees. Determine if you are going to charge by the hour or by the service. Remember to include the payment to the nanny, as to how you determine your fee scale. Will the client pay you first, or will they pay the nanny, and the nanny will turn in an invoice? Advertise your service. This is where your business plan comes into play; where will you advertise your business? Go to where the need is: outskirts of the suburbs, downtown areas, uptown areas,etc. Be professional and create business cards, the kind that you would want to receive. If you are going to have fliers created, have them done professionally.
When creating the nanny service, don’t think of the material profit. Remember to place yourself into your potential client’s shoes. Ask yourself, “What kind of nanny service would I want around my child”? The same love, attentiveness, consideration and nurturing that you would want for your child, your potential clients want for their children-it’s just that they are willing to pay for it. Give them something worth paying for.