Is Babysitting a profitable business? What entrepreneurs need to know about it?

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Babysitting as a business? That sounds crazy, right? If the owner of smartsitting thought the same about it, there wouldn’t be a top-grossing business today. Who would have thought that a mundane part-time job, mostly opted by college-going kids for their pocket money would be a lucrative business? Well, it is.

Fortune favours intelligence. A group of like-minded people in New York thought of babysitting as an exciting business idea. And started Smartsitting. It is now one of the most trusted agencies in the city to find nannies for taking care of children.

Is Babysitting a profitable business?

Life in this era is demanding. Both parents of a family have to work full-time to lead a decent lifestyle in today’s world, Which makes it hard for them to take care of their kids. Statistical data show that in the US alone, 46% of families have both parents employed. To look after kids while working is not a walk in the park. These households are potential places for businesses.

Another survey conducted by care.com shows that working parents spend around $1000 a year on babysitting. Babysitters could earn bountiful money by just working 3-4 hours in a day. The same survey shows after-school babysitters earn $243 per week, which indeed sounds like a fortune.

Less Capital Investment

Unlike Daycare or any other businesses, babysitting doesn’t need much of your money. An optimal investment for operational costs would be enough unless you are planning it as a big venture. All you need is reliable and qualified individuals who get along with kids.

Now, if you have decided to start a babysitting business, What should you do?

Luckily, Howtostartanllc.com has a lucid article on their site on how to start a babysitting business. It is a nine-step itinerary to set up your business. From start-up costs, legal procedures, Permits & Licencing to keeping business accounts, this article explains everything you need to know regarding the firm.

Having done with launching the business, let’s move on to recruitment.

How to hire a babysitter?

Babysitting is not everyone’s cup of tea. Only intrinsically motivated individuals who love to be around kids would apply for this job. However, they are to have specific qualifications so that you could run this business hassle-free. And there are different kinds of babysitters, such as High school babysitters, College-aged babysitters, Mature babysitters, etc. 

According to kidsit.com, Anyone who has a passion or experience in babysitting would be a good fit. However, these things make up a good choice:

  • Trained Babysitter – Red cross and a few other organizations offer course and training on babysitting. People who completed such childcare training should be given priority.
  • CPR and First Aid – Babysitter are expected to possess first aid knowledge in cases of emergency.
  • Driving License – Driving is an additional qualification. Some parents would want their kids to be picked up from school. In such instances, a babysitter who knows driving is the most preferred.
  • Clean Background – Background check is a must for any occupation. And when it comes to taking care of kids, babysitters shouldn’t be a bad influence on them. Parents bother about it a lot. Do a thorough background check before including them into the team.
How much should you charge for babysitting?

Here is where the main picture comes into play. Look out for the market rates. How much babysitters charge for an hour of babysitting would give you an idea. Apparently, Care.com has a babysitting charges calculator with which you could check what would be the ideal charge.

Unlike Daycare centres, babysitting sounds like personalized care to parents. Although babysitting jobs have grown into a business, most people haven’t realized its potential yet. If you are an entrepreneur looking out for a business idea, why not think about this?

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