Well if you have the will power and the time then I would say go for it. Teaching the basics to children should be manageable for a person your rating. Of course a coach with a higher rating might have more knowledge than you, but that only matters in the long run. And you all ready have teaching experience which is great.
Two advices:
Thanks for the response. Having seen these kids play, I fully expect that some of them will surpass my current level quite quickly - the faster, the better. Preparing a weekly class will also help me improve my game. My guess is that I'm about 800 elo higher than the children right now. Sometimes they don't see that they are in check and move a pinned piece. The game continues as if nothing happened. Every now and then one of them plays an amazing and imaginative move, not necessarily winning but a move I would never contemplate. 
Thanks for the response. Having seen these kids play, I fully expect that some of them will surpass my current level quite quickly - the faster, the better. Preparing a weekly class will also help me improve my game. My guess is that I'm about 800 elo higher than the children right now. Sometimes they don't see that they are in check and move a pinned piece. The game continues as if nothing happened. Every now and then one of them plays an amazing and imaginative move, not necessarily winning but a move I would never contemplate.
You're welcome. Yeah that with the pinned pieces is normal if they are not used to playing over the board. It even sometimes happens to me .
I wish you a good time with teaching (if you choose to do it).
You can def tach them. It's like a first grade student doesn't necessarily need a professor as a tutor. Besides, even if the kids catch up with you, you can still teach by discussing games and creating a setting where they can learn by themselves. Teaching doesn't necessarily have to take the form of direct instruction.
The thought I am about to share with you is influenced by personal circumstances. Recently a friend of mine, who is a good player, started a regular chess event in the local library. Quite a few children have been attending the sessions. Today I heard that they were looking for someone to teach the kids some chess basics. I spend most of my time preparing guitar lessons and hardly have time to study chess. While the game analysis engine has rated me well over 2000 elo rapid on a few occasions, and my accuracy can go over 90%, my overall rapid rating performance is much lower (currently 1876 rapid). I know that playing into the late hours and being tired after working hard on other projects is an influencing factor.
So I was wondering what stronger players think of average players (I consider myself to be an average player) teaching kids the rules of chess along with a few fundamental principles and working with them on tactics. Let me put this another way: given that the kids currently have nobody teaching them, is it reasonable for an average player to try to assist and encourage their development. I asked my friend why he did not do it and he replied saying it was not his thing which I personally think is a shame. A. S. has defeated the British champion and I found out today that he played against Jovanka Houska (after I showed him one of her books that I recently purchased). That game ended in a draw. My friend has has also written numerous articles for BCM.
As far as teaching materials go, I am a dinosaur - I collect books!
Two that appeared in the second hand shop this week (now in my possession) look really good. 1. 'Bobby Fischer Teaches Chess' and 2. 'Power Chess for Kids' by Charles Hertan (a NIC publication).
If anyone has any thoughts, opinions or suggestions, I would be grateful if you were to share them with me. I am only contemplating this idea right now because it was suggested to me. I am under no illusions that this would be easy - it would be a tough challenge.