So, you’re thinking of training with tiney - but there are a few things you’re not sure about. Don’t worry: we’re big on transparency and we know it’s important for you to understand our business model and how things work before you make the jump.
Here are the answers to some of the questions we get asked the most...
How does tiney make money?
At tiney, we don’t make money until you’re making money. That means you don’t take on any financial risk yourself. Rather than you having to fork out any money upfront, we use a revenue sharing plan.
Revenue sharing means that when a parent pays for their childcare through the tiney app you receive 90% of that payment and we receive 10%. This applies to all the customers that you work with while partnered with tiney.
Revenue sharing covers your up-front costs and goes towards providing ongoing assistance with aspects of your business like: Billing and contract support. 1:1 customer support. Marketing support. Continued professional development and training. Community events. Revenue sharing works brilliantly because the only way for us to be successful is to help you become successful. If you’re not working with clients, then tiney makes no money.
We see ourselves as your long-term partner. We promise to be there to get you started, to support you in your educational journey and to help you grow your business.
How much money do I need to spend to get set up?
As part of the deal of joining tiney we cover the majority of your costs. That includes:
DBS checks for you and your family (over the age of 16)
• Paediatric first aid training
• EYFS and childminding training
• Insurance from leading provider Morton Michel
• Local Authority / Social Services checks
• Marketing materials design and printing
• Ongoing professional development
However, even though we front a lot of costs there are a few small things for you to cover. These include:
• Signing up to the DBS Update Service - this automatically renews your criminal background check every year. It costs £12 per year.
• GP Check / Health Declaration Form - to register as a childminder, one of the legal requirements is your GP signing a form to say you are physically able to work with children. This can cost as little as £20 to as much as over £100 - each GP surgery is different!
• Toys and equipment - To set up a home nursery, you need a basic level of toys and equipment. The good news is you don't have to go crazy - you just need the basics to start. We recommend budgeting around £100-200 for this (depending on how much stuff you might already have…).
How long do I have to stay with tiney?
We ask for a soft commitment of two years because we make such a large upfront investment in you. However, there is no legal contract binding you to us. It's more like a handshake agreement.
Our goal is to offer you such great support that you won't want to leave tiney. But if you do want to leave after two years, you can try to go it alone and re-register as a childminder through Ofsted.
(Please note that this process would likely take a few months to complete as Ofsted are considerably slower to register childminders than we are).
Do you find parents for me?
Not exactly, but we do support you through the process.
We have step-by-step guides that explain clearly what you need to do and how to do it. We also give you marketing training and business coaching to help build your confidence and support you to find customers. Many home leaders find word of mouth in their community brings families to them, others use social media.
You’ll also have your own profile page on the tiney website so if parents seeking childcare pop in their postcode, they can easily find you and get in touch.
Ultimately, we don’t make money until you do so we’re invested in making your business a success!
What if I'm worried I don’t have the space to open a home nursery?
As a registered childminder, you must meet the following indoor space requirements:
Children under two years: 3.5 m2 per child
Two year olds: 2.5 m2 per child
Children aged three to five years: 2.3 m2 per child
This is space before furniture and toys, so the square footage of the empty room you’ll be having them in.
It is unlikely that for 3 children under the age of 5 you won’t have space. We work with people based in 1 bedroom flats all the time! But it’s worth checking with the guidelines above to make sure that you do have room.
I've never run my own business - will I be self-employed?
Yes, you will be self-employed.
Does that mean I need to do my own tax return?
Yes, you’ll be submitting your tax return each year. But, we support you through it with lots of training specific to being self-employed.
There are many benefits to working self-employed - a key one is that you will be able to claim back tax for your business expenses. These could include travel costs if you do pick-ups and drop-offs and even the heating of your home.
We’ll walk you through what you can expense, how to collect your receipts and how to submit your tax return. We’ll take the guesswork out of it so you don’t need to stress come the end of the tax year.
We hope you’ve found this guide helpful - just let us know if you have any other burning questions...