I know this is probably a question that could have many answers, but on average, how much could a childminder expect to earn, if they work say 3 days a week, and do school drop-offs and pick-ups on 5 days a week?
Thanks,
I know this is probably a question that could have many answers, but on average, how much could a childminder expect to earn, if they work say 3 days a week, and do school drop-offs and pick-ups on 5 days a week?
Thanks,
How long's a piece of string
Work out what hourly fee you would like to charge then do say an average of 7 hours per child during the day and 2 or 3 hours for schoolies. You may or not be able to get three children on the three days you wish to work, it doesn't always work out.
A lot less than you think. After taking off all your expenses you might be surprised. I have not yet in 4 yrs earnt enough to pay tax and I work over 50hrs a week but my outgoings are immense
xxx
You could work out a rough idea of your maximum potential earnings....
Say you open 7.30-5.30 and have 3 children all of those times (it doesn't always work out that way though)
10 hours x 3 days x 3 children = 90 hours @ hourly rate = ?
Then schoolies 7.30-9.00 and 3.00-5.30
4 hours x 5 days x 3 children = 60 hours @ hourly rate = ?
That's the most you could earn every week
Sometimes it takes ages to get that many - all of my 14 children are part-time, shorter hours - some schoolies are mornings only, some are after school only and so on....
I've always been very lucky having one parent who works from home and is flexible, so any enquiries that come in I can factor this flexible parent into the equation and move if necessary.
I prefer to have just preschoolers, so my bench mark is 3 children, 5 days a week (so about 15 spaces).
I have 8 spaces taken .... so am only just over half capacity
It really depends as Sind have says you might get enquiries some may want different days
I have 6 children coming over 5 days done part time some after schoolers
If you want to work a set 3 days and have 3 under 5 spaces available and 3 before & fated schoolers I would be 3x£90 =£270 + 3 x £45 = £135 total earnings of £405 but the likelihood of 6 ppl wanting all the same days would be hard
Good luck!
I have been child minding two years and have not yet managed Dawn's figures in my area there is a lot of competition. As you gain children you lose others so earnings seem to stay on the low side.
And as the other's have said the outgoings are huge- toys, crafts, cleaning products, petrol, days out, lighting, heating, phone bills, repairs for damaged items in the house!
Thanks everyone. It gives me an idea. It's good to hear about the expenses side of it, as I hadn't really factored that in - but it should still be ok for me.
Thanks again.
I have known quite a few childminders set up in my area to not last a year because they over estimate what they can earn. One worked out that by looking after 3 children x £4.50 (my local all inclusive rate) = £13.50 p/h x 10 hours a day £135 x 5 =£675 p/w x 48 weeks = £32,400 she thought expenses might come to just over £2000 a year but she soon found out that most people that use childminders in my area want shorter days then 10 hours on average 7 hours a day that is already a loss of £9,720 a year and then she had 2 days where she only had one child a never had anyone who wanted just two days her original figure of earnings of 30,000 after expenses ended up being well less than £10,000, so she packed it in. My advice would be to work out your max possible earnings then at least half it, as it can take a while to fill all your spaces if you do ever fill them all. I know I could earn more working else where but by doing this job I am around for my kids and I don't have to pay childcare so I'm happy even though I might not be earning a great wage!
I earned £800 in September, however due to children leaving my November income is only £300. Unfortunately, you can't rely on a steady income in this job!
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