7 Income Sources for Daycare Providers: Boost Your Business Revenue
Hey Beauties! It’s your daycare coach, Tess! I’m excited to share 7 additional income streams every daycare provider should incorporate into their business. As you know, daycare enrollment can be unpredictable, with seasons of feast or famine. Every daycare owner should diversify their income to stabilize their finances during low enrollment periods or increased competition. These ideas are also perfect for those just starting out and needing funds for business supplies.
1. Renting Out Space
Consider the potential of your daycare space beyond regular hours. You could rent it out for birthday parties for your daycare families, local business meetings, baby showers, or even to photographers specializing in children’s portraits. This additional use of your space can bring in a steady income without interfering with your primary daycare operations.
2. Creating Digital Products
Digital products are an excellent source of passive income. Personally, I create digital products on topics like daycare and parenting. If you have a good camera (or phone) consider creating stock images featuring daycare scenes or children’s activities (with parental permission). These can be sold online for ongoing revenue.
3. Family Photography Services
Offering family photography to your daycare families can be a lucrative side business. I offer springtime photoshoots for parents, and it’s been a hit! It’s a great way to build relationships with your clients while earning extra income.
4. Merchandise
Create and sell branded merchandise. Logos, sweatshirts, and t-shirts for your daycare or other local businesses can be a hit. Custom merchandise not only generates income but also serves as marketing for your daycare.
5. Implementing Fees
Don’t leave money on the table by not charging fees. Late fees for late pickups or payments can significantly boost your revenue. Additionally, consider charging for early drop-off or late stay options. If you offer transportation services, add a fee for this convenience. Remember, your cell phone provider charges fees without hesitation, so don’t be afraid to do the same.
6. Offering Classes
Expand your services by offering specialized classes such as art, piano lessons, or language classes. You can either teach these classes yourself or partner with a professional and earn a commission. This adds value to your daycare and attracts more families.
7. After-Hours Care
Provide after-hours care, like date night services twice a month. I personally charge a higher rate for this service to make it worth my free time. You can also offer weekend care or drop-in care for parents who need occasional childcare. This flexibility can attract more clients and increase your income.
Bonus Idea: Affiliate Marketing
Affiliate marketing is a fantastic source of passive income. By promoting products relevant to your daycare business on your blog, website, or emails, you can earn commissions. Whenever someone purchases through your affiliate link, you get a cut of the sale. This is an income source that I have done well with on my blogs (like this one).
By diversifying your income streams, you can ensure a steady flow of revenue regardless of enrollment fluctuations. Implement these ideas to strengthen your daycare business and achieve financial stability.
4o
