What will my start up costs be?
As with any business, there are certain costs involved in setting up and there are some items that you will need to fund.
- Registration fee with Ofsted will either be £35.00 or £103.00 depending on which registers you join
- Paediatric First Aid course needs to be in place before registration. Aproximate cost £100.00
- Public Liability insurance has to be in place as soon as you register even if you don’t have minded children. Aproximately £90.00
- Car/house insurance. Some companies charge additional premiums to include business use or contents cover if you are childminding
- Safety equipment. 3 basic items are compulsory for all childminders. A fire blanket (aproximately £20.00), at least one smoke alarm on each floor of your home and a good first aid kit(s). These items have variable costings depending on which you buy
- GP fee. Should be no more than £87.50. British Medical Association has set a recommended limit on this
- 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, double buggy or travel cot.
- You will also need to make sure that your house and garden are safe and may need to carry out some improvements - i.e. fence a pond, repair an existing fencing in garden.
- Ofsted may also recommend some other actions that you need tp take before they will regsiter you which may cost you money.
- Other. You may decide to buy text book(s) to help you start your childminding business
