Childcare Costs

Crèche fees in Dublin are quite substantial however the people working in them are not on high wages nor are the owners rolling in it.

Are there any detailed profit and loss statements available to get an idea of why the costs are so high?

xzanti

I'd imagine insurance costs are sky high.

Geuze

whatnow! wrote: »

Crèche fees in Dublin are quite substantial however the people working in them are not on high wages nor are the owners rolling in it.

Hyde and Seek made 10k per week, across four sites.


https://www.independent.ie/irish-news/news/rte-investigates-creche-hyde-and-seek-clears-275m-in-profits-as-it-gets-125m-from-the-state-38344940.html#:~:text=The%20cr%C3%A8ches'%20parent%20company%20Hyde,1.25m%20from%20the%20State.


That seems profitable to me.

And bear in mind, they may well have paid themselves salaries as well as that.

Geuze

whatnow! wrote: »

Crèche fees in Dublin are quite substantial however the people working in them are not on high wages nor are the owners rolling in it.

Are there any detailed profit and loss statements available to get an idea of why the costs are so high?

Commercial rents are very high in Ireland, as are insurance costs.

Sleeper12

whatnow! wrote:

Crèche fees in Dublin are quite substantial however the people working in them are not on high wages nor are the owners rolling in it.

Some of the large ones like Giraffes make a few million per year

Geuze

Geuze wrote: »

Hyde and Seek made 10k per week, across four sites.


https://www.independent.ie/irish-news/news/rte-investigates-creche-hyde-and-seek-clears-275m-in-profits-as-it-gets-125m-from-the-state-38344940.html#:~:text=The%20cr%C3%A8ches'%20parent%20company%20Hyde,1.25m%20from%20the%20State.


That seems profitable to me.

And bear in mind, they may well have paid themselves salaries as well as that.

If that is representative why are many more people not setting up creches?

I live in the area where those creches are and there is definitely room for a couple more.

starlady1

3 preschools in my area closed due to insurance costs.

ztoical

whatnow! wrote: »

If that is representative why are many more people not setting up creches?

Cus its a lot of work?

Ignoring the piles of regulations you have to meet to set up a creche, the high cost of rent and insurance, and the volume of paperwork required, you then actually have to run the creche which can be bloody hard work.

TP_CM

I don't know how they make money to be honest. We pay 1000 per month for our little one. That's 12,000 per year and the person who is minding our little one is legally only allowed to have another 2 babies under her. It's 3 babies to 1 creche worker ratio for early years. That's 36,000 euro total they're receiving to look after 3 little ones. With that 36,000 they need to pay the creche worker's salary, along with baby's food, insurance and a portion of all the overheads like rent, electricity, heating. The price decreases as well as the babies get older and the ratio becomes larger, so it's not like they make their money from the older kids unless I'm missing something.

Also they're open from 7:30am until 6:30pm so that 36k is going towards 2 creche workers really.

Ok that is starting to clear things up alongside insurance costs and rent/heat/light/ect.

Anyone have any idea on the cost of insurance for a crèche you have an idea of size in terms of number of children on an average day?