As with any business, there are costs involved in becoming a registered childminder.
There are currently no grant schemes available to support any start up costs associated with your childminding businesses so becoming aware of your childminding finances, including your start up costs, is going to be crucial for your new business to survive. If this is an area that you lack confidence in or would like additional knowledge in, Aspire Training Team can support you in providing the greatest customer value with the fewest resources with our Level 2 Lean Organisation Management short course.
There are no grants available to help with start up costs, but keep receipts for all that you spend as you will be able to add them as expenses for tax purposes once you are registered. We have listed some factors below that will incur a charge of some kind.
A Registration fee with Ofsted will either be £35.00 or £103.00 depending on which registers you join (to join all parts of both registers costs £35). If you register with a childminding agency, they will state their own costs. These fees will need to be paid annually.
Each person over the age of 16 who lives or works in your home will need a Disclosure and Barring Service (DBS) check, enhanced DBS is preferred. Ofsted strongly recommend that each person also signs up for the DBS Update Service which has an annual fee of £13 and will allow future employers to check the persons DBS status without them having to undergo more DBS checks.
You will also need a GP check. It is a requirement of the EYFS that you obtain a completed health check form from your GP.
You will need to complete a full paediatric First Aid course n before you can apply to Ofsted. The cost of these courses vary depending on the training provider but can average at around £100.
At minimum, you must complete introductory training that meets the requirements of the EYFS and equips you to start your own childminding business, this needs to be in place before you can apply to Ofsted.
Insurance is another factor that you will need to put in place. Public Liability insurance has to be in place as soon as you register even if you don’t have minded children. Car/house insurance will also need to be covered – some companies charge additional premiums to include business use or contents cover if you are childminding.
You may choose to purchase some childminding resources such as policies and procedures.
You will need to purchase safety equipment. Fire detection and control equipment such as a fire blanket and at least one smoke alarm on each floor of your home and appropriate first aid kit(s) must be provided.
Toys and equipment costs will vary depending on your individual circumstances and what you have already. You may need to purchase extra child car seats, pushchairs or travel cots etc.
You will also need to make sure that your house and garden are safe and may need to carry out some improvements – i.e. repair existing fencing in garden.
Ofsted may also recommend some other actions that you need to take before they will register you, which may cost you money.