Many posts on this subject so I suggest you do a search.
First of all, don't be put off by people who tell you that two working parents will damage a child. There is excellent parents who work and crappy parents who stay at home. Working or not does not make one a good parent. This kind of stigma your wife especially will encounter everywhere - she will be asked if she is working and what % followed by sighs etc. You will need to help her not feel the guilt.
As to practical stuff.
1) When the kids are not yet I the mandatory school years, I.e. before kindergarten which starts around 4.5 yrs, then it's the Krippe. A full time spot is likely to cost about 3k and they have long opening hrs. When my children where that age I worked part time 80% spread over 5 days and a lot from home. Even though it was an additional cost it worked better for me to drop them.off at 8:45 and pick them up at 16:15 versus 4 long days. Personal choice.
2) When they started KG my kids went to Hort for lunch and afternoon. This was actually harder to manage as the window of child care got smaller and by then I had changed job and was out of the house more. At this point both husband and I worked 90% alternating Fridays off so we could do lunch and afternoon with the children.
The other days, we alternated who left early and came home early and who left late and came home late. Late was never later than 19 (except from travel or business dinners etc). The parent who came home early picked up the kids from home and did dinner. At that time, our kids had dinner early and went to bed about 19:30. We then did our own dinner later. Again it worked for us as dinner for the kids was uncomplicated and then we had some adult time.
3) When they got in the first years of primary and started extra activities, we got a babysitter 3 or 4 afternoons a week - I forgot now. She would alternate between the kids and the other kid would be in Hort. She would take the child with that was with her to whatever activity and back and prepare kids dinner.
4) As they got older (4th grade and up) they started taking themselves to activities so then only went to Hort at lunchtime.
They are not tween and teen and do not bear any scar, in fact remember their babysitter fondly and also Hort allowed them to get to know so many local kids etc. So far not seeing any "damage".
Now... We spent A LOT in childcare. A scary amount. I am pretty sure at some point we were in the negative in terms of one salary just covering additional tax burden and childcare. And the amount of organization and relative rigidity in schedule is incredible.
So why do it? For us it was this:
1) None of us saw ourselves as stay at home parent. We both love what we do and do it well. We aspire to retire early and therefore wanted to earn as much as possible to put it aside.
2) We wanted the financial security that 2 jobs bring in case one of us would be laid off
3) We found it hard to spend a whole day with the children entertaining them
4) we looked at the cost of childcare as a long term necessary investment to keep employed, keep investing in our further education and keep putting money in the pension plan.
5) we wanted to show the kids both mom and dad work and help at home - an equal partnership was always important.
So is it possible, yes. Is it hard, hell yes. Is it worth it - who knows, that is a personal answer. I would do it the same all over again, perhaps with a few tweaks.
If you tell us what your wife does perhaps we can help with pointers?