Admittedly, there are some people that become millionaires almost by mistake, and others that are able to get on the fast track to building wealth. The vast majority of millionaires, however, are silent millionaires that quietly and slowly accumulate their wealth over time.

Becoming a millionaire by mistake cannot be planned. These are the types that are either born into wealthy, land a huge law suit settlement, or happen to buy the right lotto ticket. They just get lucky. Some would argue that they create their own luck. The person that won the lotto gave himself or herself the chance by purchasing a ticket. The difference is that this method is not a well thought out plan and cannot guarantee success.

The silent millionaires are those that have the greatest chance of reaching their goals. They have a sound plan that consists:

• Paying themselves first by consistently contributing to retirement programs
• Spending less than they make in order to keep debt to a minimum
• Protecting what they’ve created with proper insurance and asset allocation

The silent millionaires use time and compound interest, which is nearly a guaranteed method to become a millionaire. This group realizes that little contributions over time add up to big bank accounts that will allow them to enjoy a nice lifestyle during retirement.

Then there are those that are a little more anxious, determined and may even be more of a risk taker. These are the people that seek to joint the fast track to wealthy by “printing their own money” through an entrepreneurial mindset.

The fast track to wealth folks realize that to build great wealth in the shortest amount of time is to be your own boss. By building passive and residual income systems, they remove the limits off their income potential and grow their bank account as much as their vision allows them to. These could be day traders, serial entrepreneurs and small business opportunity seekers, real estate investors, and network marketing professionals.

Typically you’ll find this group goes against the grain and may even be criticized for taking too much risk with no security. What others can’t see is that it is this “cannot afford to fail” mentality is what drives the entrepreneur to building great income producing assets.

So which millionaire seeker are you? Are you the one that tries to get luck at the slot machine? Are you the one that is playing it safe and patiently awaiting retirement? Are you the one working to hop on the fast track to wealth despite every one’s recommendation?

Maybe you’re doing a bit of all three, thereby guaranteeing success with the potential to reach your goals at a much higher rate.

The daycare business provides an excellent avenue for individuals to cash in on this booming, profit producing industry. As dual income families have become the norm, parents find no other option but to leave their children in the hands of capable daycare providers. But this business is not for the large daycare chains. In fact, individuals who are capable of running a small business in or close to their neighborhood are in a great position to keep their hands full.

Research shows that parents prefer to drop their children off close to home rather than close to work, which bodes well for the “residential” daycare center that you provide to your neighbors. Parents also feel safer leaving their kids with capable neighbors and people they know who limit the number of children they supervise, which has the perception of greater safety and less germs.

How much can you really make from starting a daycare center?

The income potential largely depends on how much you can scale your business. The more children you can supervise and manage without trouble, the more money you can make. Daycare centers typically charge around $50 a day for each child, and may charge more for meals. In other words, for every 10 children, you can bring in roughly $2,500 a week in gross profits for a 5-day/week program.

The amount of money you can make depends on the amount of space you have, how much you can physically handle, and how well you are able to get the word out. Once you establish regular clientele, your may find yourself turning down business as word-of-mouth advertising makes your phone ring off the hook. At that point it may be time to think about expanding and hiring help.

But before you start advertising your business, be sure to check your local state and government laws and regulations for running a daycare center. Some states require a certain amount of square footage per a child. You may even need to have a licensed teacher or a licensed nurse on premise, depending on the state you live in.

There’s a lot to find out before you jump in, so go out and visit daycare centers and start asking questions.

• How much does rent and insurance cost?
• What are the biggest safety issues and how do you handle emergencies?
• How much do you charge?
• What state regulations must be met, and which ones are the toughest to meet?
• What is the biggest challenge of running a daycare?
• Where do you find quality daycare personnel?

Start with visiting church and non-profit daycare centers, as they will be more willing to help out and give you advice. Once you have all the information you need, find local businesses, churches and other organizations that could benefit from a daycare. You might just get them to fund your new business start up costs.

To get all your information and tools to start a daycare, operate it smoothly while making a profit, get the Daycare Start Up Kit