What you could make varies based on what you charge for tuition.
If you charge children $65/month (a very good deal for parents in many areas) to come to Joy School two mornings a week and have 6 children enrolled in your program, you’ll receive $390.00/month or $3510 for a 9-month school year. After you subtract out your $250 one-time start-up fee and lesson plan access fee, you’d gross over $3250 for your first year. And this is for working just 6 hours a week (Joy School typically runs 2.5 hours, two mornings a week and it typically takes an experienced teacher about ½ hour to prepare each lesson).* Unlike many new businesses, you’d make a good profit after expenses in your first year. Then your next year, since you don’t have to pay your startup fee or lesson plan access fee again and since you’d likely increase your group size, you’d make more money.
If you figure out how much you’d be making per hour in your first year, it would be almost $20/hour. **
As time goes on, many Joy School operators add more children to their groups, teach more than one Joy School group, and/or increase their tuition as the good reputation of their preschool spreads. Of course, if you chose to teach more than one Joy School group (i.e. one morning class and one afternoon class), you could make more money. ***
If you’re teaching your own child as part of your group, it works out very nicely to be making money rather than spending money on your own child’s preschool experience. Plus this would be money you can make without having to leave your home or find childcare for your children. Also, you basically get paid vacations since you are paid the same amount every school-year month by parents, regardless of holiday breaks during the school year when you don’t hold Joy School.
Another thing to bear in mind is that when you run a business in your home, you can write off part of your mortgage or rent payments when you do your taxes. You can also write off your supplies and all expenses related to running your Joy School. Many Joy School operators find that their tax savings are substantial.
But the most important payoff involved in running your own Joy School is that you’re using your own unique skills to make a real difference in the lives of many children and families. You’ll have a special relationship with many young people and will participate in teaching them the social skills and values that will help them be successful in life.
* As your actual income is dependent on the amount you charge for tuition, how successful you are in recruiting students, and the overall quality of your preschool, the Joy School Company cannot guarantee any particular amount of income.
** This estimate is based on working 6 hours a week – 5 teaching hours and one hour of lesson preparation – for 31 weeks (9 months times 4 weeks in the month is 36. Subtract 5 weeks for school vacation weeks and holidays minus 2 weeks at Christmas, 1 in the spring, 1 in the fall, 1 week worth of random holidays.) If you take 31 weeks times 6 hours each week, you come up with 186 hours for the semester. Then if you divide the money you make in a year by 186 hours, you come up with the figures included above.
*** We don’t recommend that you try to teach a group larger than 12 children in your home. You need to verify the limitations and requirements your State and City have for running a preschool in your home.