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"Nanny Service Agency Business": How to Get Started

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With dual income families became the new norm, the demands for childcare services is also on the rise. Day care is certainly an option for most, but the trend is shifting towards in-house nannies or even au pairs, especially in more economically established households.

But finding nannies can be a very difficult task, as most people are uncomfortable in exposing their households to stranger. The potential risks for crimes and accidents are also a major consideration, adding further complication to the problem

Thus, this phenomenon opens an enormous opportunity to start your nanny service agency business. By bridging a network between nannies and potential customers, and managing potential risks as well as insurances, this can be a very promising business with enormous potential.

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Interested to start this business?
Here are a few things to help get you started.

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1. Startup Cost
If you plan to start a home-based business, you can literally start with zero, provided you already got a reliable computer and internet connection. Operating in an office certainly will have its benefits, increasing your credibility in the process. Office rent costs will vary with your locations, and you must factor in the office equipment costs as well as operational expenses.

2. Getting your Nannies
The first step of this business is to build your database for potential nannies. You can conduct many methods, both offline and offline, but in the end, you will need to interview candidates. Research the current market conditions do determine your salary offer. The current U.S. national average salary for nannies is $16 hourly, but it can vary between $8 to $18 depending on experience.

Full-time nannies earn between $520 to $734 weekly, depending on experience (0-20 years+). Don't forget you will need to factor in health insurance, as well as any other necessary insurances and expenses as labor costs. Being a labor heavy business, managing your labor costs will be the key to maintaining a healthy business.

3. Licenses and Permits
Some states in the U.S. will require residential service license, and it may vary depending on your location. Consult your local authorities to get a better information regarding required licenses and permits. As mentioned before, you will also need a reliable insurance.

4. Marketing
As your potential market will mostly be residential, traditional marketing such as flyers, brochures, and yellow pages ad will most likely be more effective.

Earning Potential and Business Model

You get your earnings from the difference between what you paid your nannies and what you charge to customers. Provided you got 20 nannies working full-time with $500/week salary, and customers paid $650, your earning will be 20 x $150 weekly, or $36,000 annually. Remember that most of it will be pure profits, since your main cost will in majority be the labor cost.

As your business grows and you got more experience, you can expand to other similar businesses such as office cleaning service, security service, elder care service, and many more. The key to this business is to manage your human resources and relationships to clients, as client's reccomendations will be one of the most effective ways to get more clients.