You will need to assess the feasibility of operating a childcare business, determine the demand in the proposed area and whether it can be met in a cost effective way.
It would be useful for you to be aware of the childcare sufficiency needs in the area you wish to open as an Early Years Provider. Here you can access the latest report published for Coventry.
You will need to consider the operational hours that you will open your provision to meet the needs and be a sustainable business.
Carry out a local competitor analysis to see how the proposed business could offer a competitive option. This could inform the eventual business model that is chosen.
The Office for Standards in Education, Childcare Services and Skills (Ofsted) is the government department that regulates and inspects childcare provision in England, to make sure that the quality of care and education meets the requirements of the Early Years Foundation Stage (EYFS).
You will need to decide the legal status and structure of your organisation – Sole trader, Partnership, Voluntary Management Committee, Charity, Limited company, Company Limited by guarantee, Limited by shares, Social enterprise, Cooperative or Other