Following on from my reducing outgoings blog, I have been thinking about the other end of the spectrum - how to increase our income.
Currently, I work four days a week as a secondary teacher but that does leave me with three days a week off. Now clearly, I don't want to stretch myself too thin as the focus of me working part-time was to spend more time at home with my children, but with prices going up and incomes staying static, I have been thinking about my options.
My first idea was to do some childminding. After all, if I am home with two children on my weekday off, one more will be fine. It won't make me a fortune (probably around £30 a day before tax and NI) but I think I would enjoy it and be good at it. I would need around a £400 outlay to do my first aid course and a few bits around the house etc, so that is one of the negative points. The main one though is wondering whether anyone will want a childminder for just one day a week. If there is no market there, then I have done the courses and outlay for nothing.
My second idea is to do buying and selling. How many working parents out there have lots of unused baby items but don't have the energy to go the boot sale or ebay them? Wouldn't it be easier for someone to come to their house, give them cash and take the item away? Of course, I would then need to sell it on for a profit, which would probably be via an ebay shop. This would mean I would need space to store items and I would need to hope that everything I bought, has profit potential.
My third idea is to run a parent and baby/child club on Thursdays and Saturdays. Recently, some of my friends with young children have been looking into activities, such as gym, music or dance but have been restricted by the days and times. All of these activities for pre-school age children happen in the week when many mums now work. Personally, I think there would be a huge market out there for something like this for working parents. I could also do one on a Thursday for non-working parents or part-time workers. Ideas include, drama and dance, craft sessions, baby massage/relaxation etc. The downside is that I would probably need some training (especially for the massage idea) and premises but it is a definite possibility.
My fourth idea is to do with muffins and cakes. Recently, I have enjoyed doing some baking at home and have shared with others who have made some very positive comments - of course, they may just be being polite - which has given me the idea of doing some baking and then selling them to small local cafes etc to sell on. Would clearly have to contact cafes to see if this is a viable idea at all though.
My fifth idea is to either become a tutor, for a company or independently, or even more exciting, to run my own local tutor company. I know of a couple of English teachers who would be interested in tutoring too so maybe a small company is the way to go. Trouble is that the next 2 months are the peak time as the exams are in May and I haven't even got the idea properly formed yet. On a positive note, there are few outlays (or even none) so no/little risk involved. There are some companies around here that do tutoring but they are all national companies and I think the local touch is sometimes more valued.
The final idea is one that I have had floating around for the last 18 years (ish) but is totally impractical and certainly not going to bring in much (if any) money and that idea is to write a book. Maybe one day....
Any comments on what you think I should do?