Childminding charges

[ScaryFairy28]

I'm just thinking through ideas I'm considering becoming a child minder rather than returning to work i have necessary exp having run play schemes and creches what sort of money could I expect to make? I'm a single parent so need to know if I could afford to pay mortgage, bills etc.

Depends on where you live, and what demand is like.

I charge £3.00p.h, and on a good day I earn £6.00ph - less than minimum wage, but that's with just two children.

I have vacancies for before and after school but no interest in those at the moment. I wouldn't manage on just what I earn.

Have a look on this site for minders in your area, see what they charge. Then phone your local Early Years team at the council, ask if there is demand for more childminders - not a lot of point registering if they're saturated with minders who have vacancies!

It also depends on how many of your own children you have, and how big your property is, as the numbers of children allowed is reduced by the number of DC you have, and if you have a smaller property then you also have a reduction in the number of children. My CM can only have 2 under 5s and 4 under 8s, she has 1 of her own under 5 and another under 8, so she has had a reduction on the number of under 8 year olds based on property size, and I don't think her place is all that small (or maybe it's because she's knew, not really sure!!).

She does, however charge £6 per hour, which is inclusive of all meals and outings.

A friend of mine is thinking of training when she has a 2nd child and research has shown that she can charge £8 per hour in her area (commuter belt!). However because she will have 2 DC it is only the before and after school sessions that will give her a decent amount of money. But given what HER childcare costs would be with 2 DC it's worth it, simply because she will at least have SOME money every month rather than giving all her pay away on childcare!!!

If you have a mortgage etc to pay then you really need to be able to have savings that would last you a year put away to safe guard any loss of income.
Don't forget children will come and go, babies tend to be older as mums take longer maternity leave so often don't come until 9 months and then often move on to playgroup at age 3 or on to school at 4/5.
Often having a mix of part timers is safer than 2/3 full timers as the income is spread over more children.
Why not go along to some toddler groups or the children centres and see what the need is in your area as round where I am its really quiet with lots of extended families doing the childcare.
I've moved into running creches in children centres which pays well but work is never guaranteed longer than a 10 week course for mums.
When I was childminding 3 children part time over 3 days term time only I earnt £250 a week but the children grew up and mum had more children and decided not to go back to work, thats life. I am ruled by demand and not much I can do about it.

My area is pretty quiet at the moment too. Even some of the really experienced minders who have been doing it for years are not full. I have just lost two siblings and my income has been halved. I am 2 weeks into a 4 week notice period and am not at all confident that I will fill the spaces in time. In the past it has taken me 2-3 month to fill a vacancy.

That said, when I do have mindees the money is quite good, considering that I get to stay at home with my little ones and don't have to pay for childcare myself. I am lucky in that dh earns enough to pay the bills and my income is extra. If childminding was my sole income I would probably find it much more stressful.

Childminding is not a way to make lots of money. Can take months to set up and the work is never reliable. You need to go into it with your eyes wide open.
Good luck in whatever you decide.

Ok so maybe it's not going to work then, back to the drawing board! Thanks for all your time and advice though ladies.

I have quit now and returned to teaching but I used to charge £6.50 p/h, only dud term time only with 3 EYFS and last year my gross income was £26k! I was more than happy with that :)

Now I could live on that but doubt I'd get that an hour other local CMs charge £3.50/hr