How Do You Figure Rates?

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  • dave4him
    Advanced Daycare.com Member
    • Oct 2011
    • 1333

    How Do You Figure Rates?

    I'm trying to make sure my rates are fair for the OK Day rates. How do you figure them? Is 35$ a day fair for my one kid who is there three days a weekend takes up a full time spot?
    "God said, ‘I have found David son of Jesse, a man after my own heart. He will do everything I want him to do.'"
    Acts 13:22
  • Michael
    Founder & Owner-Daycare.com
    • Aug 2007
    • 7946

    #2
    Some similar posts: https://www.daycare.com/forum/tags.p...and+reasonable

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    • jessrlee
      Daycare.com Member
      • Nov 2010
      • 527

      #3
      It really depends on your area. I would check center websites, and do some calling around to see if you are in the right ballpark. For me, it took a couple of years to become comfortable with the whole money thing.

      Comment

      • awestbrook713
        Mommyto3boys
        • Aug 2011
        • 421

        #4
        I found out what the average in my area was. They usually have an hourly, daily, and weekly. I wanted to go with a weekly set rate so this is how I did it and it seems to be working well: Daily average around my area is $30 a day so I went lower and made it $25 a day then I multiplied that by number of days the child is here so if they are here all 5 days there weekly rate is $125. Parents pay that whether child is here all 5 days or not. Hope this helps ya!!

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        • Cat Herder
          Advanced Daycare.com Member
          • Dec 2010
          • 13744

          #5
          I really did not care, at all, what my competition was charging. I never really looked at first.

          I just calculated up all my monthly bills to get the minimum amount I would have to earn to be ABLE to provide childcare in my home and still survive. Otherwise there was no point in opening.

          I then added my monthly IRA contribution, christmas fund contribution, emergency fund contribution and a "supplies" buffer amount. Then I multiplied it by 12 months. I then took that number and divided it by 6 slots (my legal maximum).

          I had to work out the number of weeks I would be open, minus the 2 weeks unpaid vacation they all have available, and the two weeks unpaid I take, to get a weekly rate.

          Sounds more difficult than it was...
          - Unless otherwise stated, all my posts are personal opinion and worth what you paid for them.

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