Best Home Business for Nanny Service

Nanny Service

Start-up cost: $10,000–$40,000
Potential earnings: $40,000–$70,000
Typical fees: $20–$35 per hour
Advertising: Yellow Pages, newspapers, parents’ groups, business
  associations, Web site with testimonials and information
  about your fees and services
Qualifi cations: Business experience, preferably experience in managing a
  sizeable staff
Equipment needed: Computer with high-speed Internet access, cell phone, fax
Staff required: Yes (about 20–30 nannies)
Hidden costs: Liability insurance, health benefi ts and possibly
  background checks for your nannies (however, some nanny
  services require candidates to cover that cost)

What You Do

Not just your average babysitter, a nanny provides daily care for children in addi-tion to helping with household chores. Obviously, then, nannies should enjoy being essentially another mom in a busy household. You need to carefully screen your nanny candidates (including running a background check with the police to make sure they have a clean record) and match them carefully to prospective households. Make sure that your client homes fi ll out a questionnaire detailing their preferences and exactly what kinds of work they expect to have done by the nanny. Also, since many nannies drive kids to soccer practice or other recreation activities, be sure that each nanny has a valid driver’s license. Your nannies should be CPR certified as well.

What You Need

Your costs to start a nanny service are generally quite high for a number of reasons, including liability insurance, office overhead, and benefits. Once you factor in your advertising costs (a good-size ad in the Yellow Pages and flyers or brochures for parents’ and professional groups), you’ve spent anywhere from $10,000–$40,000. Nanny services are particularly lucrative in large cities, where most of the need is.

Keys to Success

It is a challenge to match the right nannies to each of your clients’ households, but if you ask all of the right questions up-front, your chances of success will be high. Nannies are fi lling an important void in the lives of working families, and if the two-income family trend continues to rise, your service will be among the most profitable businesses to start.

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