Raising me and my 3 siblings was a full-time job. However, once my older brother and sister were in their teens, my Mom had free babysitters for me and my little sister. She started working out of our home and after us younger two were about 10 or 12 (and older ones off or out of college), she started her own business which she will have run for 20 years next year. Worked out well for everyone, I think.
My wife's training won't give her a work at home option. I'm hoping she can find a part time job.
Having watched my daughter for a few weeks while switching jobs, I can vouch for the NEED for daycare a few days a week. It helps them get socialized and not bored with everything around the house. Plus, it can save your sanity, too. I absolutely admire stay at home moms (and dads) b/c there is no way I could do that job full-time.