RESOURCES Pre Setup Considerations Will I Make A Good Daycare Entrepreneur? Sole Proprietorship vs. Partnership - Which is Better? Is Operating A Daycare For You? Options For A Daycare Startup Starting A Home Daycare Daycare Mgmt Importance of Quality Daycare Finding The Right Location For Your Daycare Preparing A Budget For Your New Daycare Setup Developing A Daycare Business Plan Pricing Your Daycare Services Staffing Matters Hiring The Right Daycare Staff The 6Rs of Hiring For Daycare Legal Considerations Your Legal Commitment As Daycare Director Understanding Contracts for Daycare Owners Marketing Tips Tips To Differentiating Your Daycare Copywriting Tips for Daycare Business Owners Identify The Right Customers For Your Daycare Organising A Daycare Openhouse Marketing 101 for Daycare Owners Website 101 for Daycare Owners Developing A Daycare Brochure Marketing Your Daycare Services Selling Tips Coldcalling Tips For Your Daycare Center Prospecting Tips For Your Daycare Effective Selling Tips Your Daycare Services Are They Ready to Buy Your Daycare Services?

Understanding Contracts for Daycare Business Owners Are you aware than a contract need not be in writing? Oral commitments or actions made during certain situations can also be legally binding. The question then is under what circumstances will an oral statement lead to legal obligations? Do you know what constitutes a contract? Do you know that an offer can also be binding even if it was never written on paper? Do you know that a contract need not be in writing? There are a number of terms which you will need to understand: 1. What is an offer? An offer is an expression made by one individual to another. It can be to another individual, a group of individuals or to the world at large. It offers the promise of being bound as longer as the specified terms are accepted. It can be oral, written or via conduct. 2. What is an acceptance? An acceptance takes place when there is a final and unqualified express of agreement to the terms of the offer. Acceptance must be communicated to the offeror. Unless Postal Acceptance Rule apply, acceptance must be made either through fax, telex or face to face. In the case of acceptance by post, an acceptance of offer is made once the letter is posted, even if the letter was lost in the mail. 3. What is a contract? A contract occurs when an offer is accepted. And unless required by law, a contract need not be in writing. All contracts are agreement giving rise to obligations which are enforced or recognized at law. However, not all agreements are contracts as a valid contract must possess all the following element; offer, acceptance, intention to create legal relations, capacity and consideration. However, there are 4 types of contracts that are considered illegal. - Gaming & wagering contracts - Contracts contrary to public policy - Contracts illegal in performance - Contracts in restraint of trade (for sale of business and employment contracts) During the course of negotiating the contract, many statements would have been made. Some would be legally binding whilst others are not. There are a number of factors which could potentially legally bind a statement. The closer the statement was made to the conclusion of the contract, the more likely it is to be binding.  If the maker of the statement has greater knowledge concerning the statement compared to the other party, it is more likely the statement is binding. The greater the emphasis placed by a party to the contract, the more likely  the statement is binding If an oral statement is later set down in writing, then it is more likely to have become contractually binding If the maker of the statement invited the other party to verify the truth of the statement made (e.g. “Why don’t you get an independent party to verify if you don’t believe me”), then the statement is more likely to be a representation and may give rise to a course of action in misrepresentation if false. Therefore, do be mindful about how you put things across to the parents of your daycare children because you could be legally bound to fulfill it, whether or not it has been written on paper. R E C O M M E N D E D Daycare Starter Kit Turn your love for children into an exciting business that puts you in control of your life! If you are looking to spending more time with your children but at the same time looking for an avenue to make some money, then starting a home daycare could be the perfect solution for you!. Not only will you have the chance to shape your child's future, you can make a difference in the lives of others. This is the perfect opportunity to turn your love for children into an exciting business that puts you in control of your life! What many people do not know is that home daycares can be very profitable, with the opportunity of easily earning $3,000 or more a month. It is, in fact, not uncommon at all for a home daycare provider to make $40,000 or more a year! The Daycare Starter Kit will provide you with all the information you need to start and operate a successful daycare business! Your purchase is backed by a 8 week risk-free, 100% money back guarantee. Click here to learn more about Daycare Starter Kit