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Someone...please help me with rates! ARG! I live in Northern California...I just can't figure out the best way to structure my rates. How much for half day/full day...how many hours for each...etc. It's driving me nuts! Any suggestions?
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Pm me i am in no cali too -
Blessed Mom, are you a licensed home daycare? How long have you been open?Comment
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I am not yet open...I am in the process of getting my license right now. I am trying to get all my ducks in a row so that as soon as I take my orientation class I can quickly ask for my home inspection. I need this license asap...I am not making enough money as a part time preschool teacher. This is my passion and I am very excited to get started.Comment
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I'm not open yet either, just waiting to move and have a few last papers to get finished. I'm getting all my ducks in a row. I'm now working 40 hours a week at daycare to get my experience level up faster than being a fill in for the last year. Once my DH and I buy our house (have not found one we like yet for various reasons) then I will be able to have some inspect and get licensed. The longest part about it is getting the papers all written if you want to get into details with your handbook and contract and schedule and if you are creating your own curriculum like I'm attempting. The other time consuming task is waiting on the fingerprints to come back so I did mine a few weeks ago and it could be up to three months so at least I'll be done with that. Are you not wanting to start a few kids before you reach your unlicensed limit before getting licensed for more?Comment
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Pm me your zip code and I will look it up for you. I'm leaving for the gym right now and will pm you back tomorrow.
I think that would be a good startComment
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Different things work for different providers!
Personally, I use flat set rates.....regardless of attendance. I set my rates to be about average for the area. The parents like the fact that they owe the same amount every single week. No adding up, no surprises, no arguing over hours.- or amount due. Everyone pays on Friday in advance for the following week. If they don't pay at pick up on Fridays, they cannot bring their kids on Monday morning without cash in hand. I do NOT do business of ANY kind over the weekend and so if I don't get paid Friday, they cannot pay me until Monday morning AND they owe $30 extra in late fees.
I have 16 slots. Each slot costs the same full time rate. It's up to the parents to decide if it fits their budget. It costs them the same price for part-time as full-time. If they are happy to pay full price for only 2 hours a day...then so be it. I have school kids who are only here before and after school (here all day on school holidays of course), but their parents pay for the slot all year. Mainly because I have had their kids since birth or very young and they don't want to leave and have got used to budgeting the same amount each week. To them it's the same. They drop their kids off in the morning and pick them up at night. The fact that the child was in school most of that day (bus stop is outside my door!) doesn't bother them.
I love the kids...but I do this to support my family and therefore want to make as much money as I can. Taking part time kids at part time rates just cuts my income possibilities down. When possible I DO take kids who are here when the schoolies are at school and leave before the schoolies get back and are not here during school hols or the summer as that would put me over ratio. Those parents also pay full price all year. I actually have 23 kids on my rolls that all pay full price even though no more than 16 are here at any given time.
Basically...the parents work around my pay requirements and not the other way around. If it doesn't work for them, they are free to look elsewhere. I don't cut my own throat financially to help out the parents with part time rates.
I know this wouldn't work for other providers and they like to keep to specific hours etc. That's the joy of being self-employed. We can choose what works for US! Do what's right for YOU! Good luck with your new venture!Comment
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ARG! But I want it perfect the first time! LOL!! I'm not yet sure what will work best as...I am not yet "in" it. The options are endless and overwhelming. I am opening my own daycare because the economy has devastated the preschool where I work. Parents are laid off and staying home with their kids. My hours have been cut way back. While I too love the kids I also need to support my own family. I think that for parents in terms of decision making cost is above quality care right now the way the economy is...sadly...so I want to make sure I am fair and balanced on both sides without cheating my own family.Comment
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When u go to your meeting they will give you a list of averages based on your zip code.
What I did was took the average, then I called all the local dc in my zip code and pretended I was a customer.
I asked how long in business, location, type of program if any, what they offered, hours and price. After I got them all. I looked at averages again and the thought about what my program offered. I teach a preschool program from my home so I added $10.00 mor per day than the average who did not offer any program. I added $5.00 more for my great location near freeway and then stopped there because I did not have years of experience to back me like others had. I am not the highest in my area but not average either.
Hope this helps someComment
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