I agree, it all depends on where you live. Daycare cost go up and down with cost of living, but minimum wage does not. No matter where you are, your assistant is going to expect $9-10/hour, regardless of what you're bringing in.
I live just outside Washington DC, so it's a very HCOL area, and I'm in a planned community, in one of the top school districts in the US.
I have 7 spots, I charge $300/week, no part time, no discounts. I pay my assistant $10 for 35 hours a week. I budget about $400 for taxes, SS etc, and what I pay my payroll company.
IN $2100
OUT $400
LEFT $1700
per week.
If I stayed within my ratios to do this alone, I would not be able to afford rent in my area, almost all the home daycares in my town have full time assistants b/c we need the extra spots to be able to live in this area.
I live just outside Washington DC, so it's a very HCOL area, and I'm in a planned community, in one of the top school districts in the US.
I have 7 spots, I charge $300/week, no part time, no discounts. I pay my assistant $10 for 35 hours a week. I budget about $400 for taxes, SS etc, and what I pay my payroll company.
IN $2100
OUT $400
LEFT $1700
per week.
If I stayed within my ratios to do this alone, I would not be able to afford rent in my area, almost all the home daycares in my town have full time assistants b/c we need the extra spots to be able to live in this area.
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