How to maximise income

[Janepear]

My Bf is considering becoming a childminder but is worried about how much she could earn, as I never had one for my dcs I can’t help with advice on maximising her potential income. What do people think?

Far too many variables and she needs to do some research and come up with a business plan.

She’s very open to advice from those who have been doing it for a while. She has 1 toddler and is thinking about not returning to work but as I say is a bit worried about the financial side of things.

Well it depends on how many children she takes on and how many hours they do.

She'll also earn more money if she does before/after school care and school holidays.

Most cm's build up slowly. Does she have anyone interested? Has she started the process to register with Ofsted? Done her paediatric first aid course? Arranged public liability/household/ICO insurance?

She can get info and advice from her local authority, family information service.

It's never going to be a highly paid job but as you build up experience/increase numbers your income rises.

and is thinking about not returning to work

Childminding is work though. It might be working at home but it’s very full on.

unfortunately there are so many variables at play you/she will need to do some local research but please don't look on this as an easy 'not go no back to work' option or she'll be sorely disappointed.

I once worked out that if I were to work full time (7:30-6pm) and be at full capacity (3 EYFS & 5 school age) I could take home after all my expenses and tax about £4k/month - a great wage for a home based job with no travel or childcare costs. HOWEVER working FT as a childminder is really bloody hard work and has a massive impact on your home life (not to mention the mental toll!) and chances of filling all spaces all the day are virtually nil and most importantly, someone 10/50/250 miles away from me could work just as hard but earn a third less purely because the local market rate is lower.

Sorry I wasn’t clear, I meant work out of the home. She is a nurse and is worried about shifts etc and would really like to stay home with her dc.

Making a decent income as a childminder is only slightly more difficult than nailing jelly to the ceiling.

But seriously, there are a lot of variables involved.

Just for starters.....

What is the supply/demand situation for childcare in the area?
Is there demand for a particular type of childcare there? (eg a large hospital can mean parents are crying out for shift flexibility and overnight care. Can she offer this?)
Does she own her own home?
Is she paying a mortgage?
How many hours is she prepared to work? Hours with children? .......plus (unpaid) hours without children?
Can she survive some severe fluctuations of income? Does she have any money to fall back on in a crisis?

Childcare is tough. I used to babysit for families in my apartment complex. Most of them were really grateful. I also earned £10 each time I had a job. My clients loved me.
Sounds like she needs to invent a business plan first of all. And consider what type of childcare she will provide to families too.

She could get in touch with PACEY for some initial conversations.
I would also advise getting in touch with local authority, and find out about demand, and also about support, and training etc.