Business plans

[jumpinjen]

Hello everyone!

it's been a couple of weeks... hope you're all ok!

I've finally been to the enquiry evening (hurray!!) and set the ball rolling, but they have told us to write a business plan to be able to apply for the start-up grant.

I'm having trouble with estimating some costs and making it look convincing and feasible!

what do you spend in an average week or month on things like stationary, craft materials etc and what do you spend in a year on toys, equipment and training???

I'm only planning to have one full-time equivalent place filled to start with to break me in gently so won't have a huge income, but my forcast at the moment with the estimates that EY have given us, means I would have to charge about £6 hour to break even!!!!

Please help me!!!

Jenni x

[Spangles]

What a nightmare! I didn't have to do that thank goodness because I wouldn't have a clue where to begin and it would probably have put me off completely!

I can't really help you as haven't been minding long, sorry. Hope other people can help you though.

[Heaven Scent]

I didn't have that either I just needed to justify what I would spend it on eg. items to make the home safer a few toys and materials and of course pushchairs and travel cots etc thats about it. Oh and docs cert and judging by some posts on here that could eat away with a huge chunk for some childminders. Its a grant to help you to start up not to run your business for ever - thats why its called the start up grant - did you go to a childminder pre reg briefing session and if so did you get a green folder that people from the cis would give you infills for at various stages along your registration route? Mine doesn't have anything on it to indicate that it is something produced by CCC I just presumed that all councils did the same thing.

So sorry no help at all what figures have EY given to you.

Celine

[jumpinjen]

Hi, thanks guys.... i think that the idea behind the business plan is to make us look at how we will run the business side of things.... thay don't want to fork out the start up grant to everyone and then have half of them not even get off the floor. i think they have made it a requirement to show that you have a workable business model so their investment is safe!!!

it's been interesting doing it actually---- a steep learning curve you might say!!!

i found a good site if anyone else has to do this... they have some useful accounting software to download too www.businessplanhelp.co.uk

Jen x:eek:

[katickles]

We don't get a start up grant in my area - so i can't offer any advice here but just wanted to say good luck with it :)

[sarah707]

I really don't envy you this... I was having a think earlier ...

You've got start up costs - safety equipment, car seats, buggies, travel cot, bedding, toys & games etc... which might come to say £150

Then ongoing crafts, toys, books, magazines (for you and children) etc... say £50.00 a month

Food costs, depending on the child but I budget a full day's food at about £6 per child...

You need to offset this against your income so if you hope for 2 part-timers bringing in say £3.50 an hour, 5 hours a day each, 3 days a week... that's £100 a week (rounded)... the same 4 week month your income would be £400...

Then of course you have part-time expenses, so lose 10% for wear and tear, plus % of your gas, electricity, phone rental etc etc (you have your bills)... help for that here...

http://www.hmrc.gov.uk/manuals/bimmanual/bim52751.htm

Does this look like the sort of thing they are looking for...? Hope it helps :D