My wife has worked as a childminder, in a nursery school and a secondary school and the theme across all 3 has been that there is very little money to be made.
Childminding is actually the worst, people just take the p&^£. Its hardly £5 an hour, you need to be trained, you need to be registered, submit stuff to OFSTED, you need liability insurance, business insurance for your house and your car. You need to feed them, not just meals but snacks etc. You need carseats for them, a cot for the younger ones to sleep, toys and a host of other things that people forget about. Remember you cant just put a stranger in your kids cot.
My wife used to take the kids to play centres and various places to keep them entertained, this all costs and comes out of the hourly rate.
You need to document a load of stuff each day to satisfy OFSTED so that takes extra time in the evenings.
On top of this, the parents (naturally, I guess) expect a certain standard. House spotless, no washing hanging about, a certain standard of car for it to be safe enough to drive their kid around, even down to parking outside for pickups or drop offs. You would be amazed at what they grumble about.
Then to make it even better, the parents call to say they will be late. No offer of any extra money and if it is added to the invoice they get shirty.
Lastly, and my personal favourite, when they get the monthly invoice, they question the amount as we collected little Jonny at 4:15 rather than 5 one afternoon and even though we gave you no notice and those are or agreed hours, we don’t want to pay for it.
Trust me on this one, whatever it costs, its not nearly enough 😉