CM club - Can childminding bring you a good income???

[Hollylou]

Hi all

Really just wanted to get your advice on this. I'm going through registration process at the moment. I currently have a full time job (well almost full time - I work 4 days a week, Tues-Fri) in the private sector so pretty well paid....but I'm really unhappy there. Have been with the company 3 years - since having my daughter. Love the people just not the job. Long hours, periods away from home. Before I had my daughter I didn't mind that working life style...but now I do.

Anyway, have decided that I'd like to try childminding as will give me an opportunity to spend time with my daughter before she starts school plus will then fit around her when she does start - next Sept. Am excited by the prospect of becoming a minder but am worrying about the income. I don't expect to earn quite as much as I do now but won't need to once I've dropped her expensive nursery fees...but I do still need to earn a decent amount. My husband works but we can't afford to live on one salary...or one and a half for that matter!

Without going into details about the sort of money you all earn doing this...in your experience can a fairly reasonable income come through? OFSTED are recommending I am registered for 5 children under 8 and I'm definately going to take advice from many of you on this site about taking part timers as think this is how you make up your earnings.

I bought a childminding book by Alison Lee which has some really good stuff in there about the business side but one thing she does say is that Childminders rarely earn sufficient money to make them liable to pay tax...which I have to say has put a bit of a dampner on things for me. Is it really that bad??? Do may of you find you are having to take other jobs on as well to earn more money? I guess at the end of the day its down to the interest you get but I just wanted to hear some of you experiences.

Thanks
HL

[xena]

I childmind a little girl with downs and find it great (helps that she is adorable ) although I would recommend allocating one of your spaces for your under 5's (even if the child is over 5) as the one to one care needs are higher (i hope this doesn't offend). I also provide cover for my niece who has cerabal palasy and eplipsy again I have to provide more help but she also is a delight generally speaking the under 5's are harder work physically and the over 5's more mentally challenging. I think that is important to consider before taking on a new child how it will affect the balance of the group as a whole.

[makemineadouble]

Amphion thank you I see now you were saying that in first post! excuse my blindness, I think glass of wine would help!...There thats better mmmmm all tidied up ready for tomorrow sweet smell of detox wafting through house and lovely glass in hand

Jimjams I would love to go down this road if I were starting out but unfortunately i'm nearer the other end now and just cruising for next few years then I'll retire to the sunshine nobody under 3' in site

[xena]

The comment about
I think that is important to consider before taking on a new child how it will affect the balance of the group as a whole.
was not in reference to special needs but for over 5's I think if the balance is wrong it can be a nightmare of constant bickering (and the girls can be quite mean to each other) I also find that for older boys 3 really is a croud.

[makemineadouble]

xena I think what you do is incredible the support you offer those families! you must be well loved I would love to even put my toe in the water in a very small way

[xena]

ahhhh actually they all want to string me up as we are moving to cornwall. Would not be in the least suprised if the family of my little girl with downs follow us as they are really thinking about it, would love to join the slower pace of life in the west country! The schools we have look at place a much higher emphasis on quality of life rather than where they place in the tables and it really shows.
Anyway hollylou sorry to hijack your thread.
and really makemineadouble I am a very shallow person

[Hollylou]

Not at all Xena. Your experience sounds wonderful. Only wish I had half of that under my belt already!

I think I need to contact some of you directly to talk more! Katy Mac/Alibubbles would love to find out more about your secrets to success. Will CAT you - once I've plugged in all my details to sign up for the service. Away this weekend but will give you a shout next week!

Thank you all again for you words of wisdom. You've made me feel a whole lot less daunted about the task I'm about to take on. Lets hope I turn out to be the sort of minder you all clearly are.

HL

[makemineadouble]

Hollylou I also seemed to have blabbed on and on ! its just so great to hear success stories, some parents (i think) treat cm's like servants not like buisness women offering fantastic service ...Hope you have a fab weekend

[Kaydirect]

Alibubbles pls get in touch. I need a mentor.

[feelingsickaboutit]

I made 24k (gross) last year. TBH it works out just under the minimum wage for the number hours I have worked which include 12 hour days and overnights. I went large and have an assistant working with me. It took me years to build it to this and I'm on a lookout for a regular 9-5 job now as I've truly had enough. Starting up don't count on the money you might earn as it might just be nothing or close to nothing. Also ... the income is not reliable as you might find yourself without money just as you're stable when one or two families give you notice.
My advice to you is make sure you have some savings to start with and always ... to give you buffer during thin times. Make friends with other childminders. Don't worry about paperwork ... there's very little to do that's statutory ... of course there's a bunch of childminders who like thick folders with photos and art in it all linked to the outcomes, folders for planning and such. It's not a requirement to do this in writing. I have never had a single folder like this and always got good. I prefer to spend time with my family instead ;)

[SuperDuperJezebel]

This thread is 11y old!

[Bettercallsaul1]

That would account for the miserly rates of pay mentioned!

[PoisonousSmurf]

Your house will not be your own. Ofsted can turn up at any time. Parents are in and out each day. Then there is the never ending paperwork. Having to be on your best behaviour all the time.
At least with a job outside the house you can relax and escape. With CM you are at 'work' all the time.
I gave up after 7 years.

[thisgirlrides]

Well after spending a gorgeous day playing with my minders in the garden I would add that it can be a great job. I don't do any loads of paperwork, have a day off to sort my shit out & allow my own children to do activities or have friends over and earn a decent living.
Bloody glad this thread is 7 years old though as I was pretty at the £2.50ph rates!

[fishfacedcow]

I think you need to decide your pricing policy based on your individual needs.

My husband's pay covers all the household expenses. I also dont mind if i have a cheeky day off.

Because i don't need to earn the same every month, I can offer flexibility, I also have an assistant like me, who doesnt mind not working/working full time. So ive built up a cracking business with all the shiftworkers that noone else wants

[jeep36]

Absolutely. I charge £65 per child, per day. I'm yet to find a broke childminder in my area!