Affordable, trustworthy childcare is getting harder to find. If you have the time and space, starting a babysitting business may be an excellent side business, freeing you up to pursue other farming ventures.
If you have children already, you probably have what you need to start a babysitting business in your home. If you don’t already have children, you may find it easier to go to other people’s homes to babysit. There is demand for both of these models.
The main consideration on whether or not this will work for you is state licensing requirements. Some states require no special licensing if you watch a limited number of children in your own home while others may require you to operate under a daycare license. It is critical to look into this before getting started to avoid potential legal issues. Insurance is another consideration – if you have to disclose your babysitting business to your insurance company, they may require you to add liability insurance. It’s a good idea to have this anyway, but that’s a topic for another day.
Initial Investment Cost
Unless your state requires anything special to comply with licensing or state laws, you have little to no upfront cost in a babysitting business.
Space Required
No extra space is needed for a babysitting business, hooray!
Turnaround Time
You can begin seeing income in as little as a week, especially if you already know people who need your services.
Daily Time Requirements
The time you will spend depends entirely on your client’s needs – anywhere from 1-9 hours per day. The good news is that this time doesn’t prohibit you from doing other things. Like raising your own children, you can accomplish a lot while your charges tag along.
Profit Potential
Babysitters charge anywhere from $5-$20 or so per hour, per child. Look at where babysitting businesses advertise in your area and ask around to get ideas of the going rate. This is one area where barter can really help.
Potential Markets
You can babysit in your own home or in your client’s home. The market will always be local, since this is a service business, but you can advertise on national sites such as care.com. Other areas to look might include churches, businesses that offer childcare or event babysitting.