Is being a childminder profitable?

[Yorkymidge]

Hello,

I have two children, aged 2 and a 3 month old baby. Lockdown (amongst other factors) has made me realise that i don’t want to go back to working in a nursery. I know two childminders, one claims to earn £40k per year, before deductions, the other is always on holiday and seems to have a comfortable life, she says she claims a lot of bills eg heating/water. She only has one child during the day, then before/after school children. But from what i’ve heard from forums, childminders don’t seem to earn much. So, what i’m asking is, is it all that it seems from the people i know? Is it profitable? I have an attached converted garage so could keep the business separate from my home as such and i hold a foundation degree in early years.

Thanks!

I'm a childminder, I invoice out on average £3500 per month and have a very good accountant who makes sure i claim back every allowable penny.

The downside for me is that now my children are approaching secondary school age I can't earn the same money in any other job and my childminding is affecting their lives negatively.

@Elzbells thank you for your reply! Can i ask how much you charge, your area and how many children you care for?

I'm in Herts, I charge £7 per hour which is below the local rate. I have 8 children on my books over the week but 4 of those are siblings so I have 4 children in total most days.

I also usually have some siblings for wrap around care but they are children connected to families I look after and I have had them also since babyhood.