Rates - Help?

[Terrysohs]

mrsdchastain
When I was doing it,I used word of mouth through friends at an old job, I used craigslist or if you live close to any businesses I would just promote myself. At your usual grocery visit, tell a couple of employees about your services. I also offered daily care. That came in handy if daycare was closed or full.

[ames]

Prices definitely depend on location.
I suggest making a contract and having parents sign it. I also was pre-paid. I called it the "No pay, no play" policy. I was paid every Monday for the week. If someone came without paying, they could not drop off, even if they were just going to the ATM.

Sometimes I had to remind parents that they would not go to their jobs if the boss said they would have to work for no pay. When I said this, they realized what I meant and were very good about paying. I think people forget sometimes that daycare owners are business people and are working. I've used a similar reminder when people showed up early for drop off or late for pick up and complained when I charged an early drop off or lae pick up fee.

[rhonda_wahm]

Originally Posted by Terrysohs

mrsdchastain
When I was doing it,I used word of mouth through friends at an old job, I used craigslist or if you live close to any businesses I would just promote myself. At your usual grocery visit, tell a couple of employees about your services. I also offered daily care. That came in handy if daycare was closed or full.

Offering Daily Care ... Thats actually a good idea I may have to look into offering that as an option too!

[rhonda_wahm]

Originally Posted by ames

Prices definitely depend on location.
I suggest making a contract and having parents sign it. I also was pre-paid. I called it the "No pay, no play" policy. I was paid every Monday for the week. If someone came without paying, they could not drop off, even if they were just going to the ATM.

Sometimes I had to remind parents that they would not go to their jobs if the boss said they would have to work for no pay. When I said this, they realized what I meant and were very good about paying. I think people forget sometimes that daycare owners are business people and are working. I've used a similar reminder when people showed up early for drop off or late for pick up and complained when I charged an early drop off or lae pick up fee.

Well since I first created this post. I now have my rates set and I also do the pre-pay because I am not going to chase my money down each week. This way I know I am being paid because not only do I want to be paid for babysitting but, if I do not get paid then I would be losing money because I also provide food and drinks. So I definately think pre-pay is a good option.

[rhonda_wahm]

I have my rates made up but am wondering if possibly my rates are set to low. With me providing food for breakfast, lunch, snack and drinks I am wondering if maybe my rates shouldnt be set a little higher than they are.

I called the day care close to me this morning and they charge $30/Day.

I have mine set at Full Time 4 days or more - $100/Wk first child and $75/Wk each additional child
and Part Time 3 days or less - $60/Wk for first child and $50 each additional child.

Does that sound right or to low?

Like I said I provide breakfast, lunch snack and drink.

[kjm]

Originally Posted by rhonda_wahm

I have my rates made up but am wondering if possibly my rates are set to low. With me providing food for breakfast, lunch, snack and drinks I am wondering if maybe my rates shouldnt be set a little higher than they are.

I called the day care close to me this morning and they charge $30/Day.

I have mine set at Full Time 4 days or more - $100/Wk first child and $75/Wk each additional child
and Part Time 3 days or less - $60/Wk for first child and $50 each additional child.

Does that sound right or to low?

Like I said I provide breakfast, lunch snack and drink.

Hi Rhonda,

Those rates seem low to me- IMO... .I don't know where you live/ what your area is, though so that might be the going rate in your area.... Like, one of my sisters live in Missouri and the going rates there are similar to what you charge... I live in VA and the rates are higher... I charge $125 full time and $30/day and I only provide snacks and drinks. My rates- from what I've been told- are very reasonable and "cheap" compared to the big daycare companies/businesses or licensed in-home providers. Are you apart of something with the state to where you get some compensation for the food you buy for the meals? If you are paying for all of it out of pocket I, personally, would probably look into changing your rates... After buying all of the food and drinks and not to mention everything else you need for your daycare you are putting a lot of $$ into it and you deserve to make a decent income after putting all that money into it.

Quick question... how do you go about changing your rates with exsisting clients?! I'm curious because my very first clients that I've ever had are still with me. They have 3 children and they have never had to pay my actual going rates like my other clients do... They pay me $275/wk for all 3 kids which is less than $100/kid/week.... I've been thinking about raising their rate but am honestly unsure how to go about it because I don't to come off the wrong way... Any advice is greatly appreciated!!
TIA!!

[rhonda_wahm]

Originally Posted by kjm

Hi Rhonda,

Those rates seem low to me- IMO... .I don't know where you live/ what your area is, though so that might be the going rate in your area.... Like, one of my sisters live in Missouri and the going rates there are similar to what you charge... I live in VA and the rates are higher... I charge $125 full time and $30/day and I only provide snacks and drinks. My rates- from what I've been told- are very reasonable and "cheap" compared to the big daycare companies/businesses or licensed in-home providers. Are you apart of something with the state to where you get some compensation for the food you buy for the meals? If you are paying for all of it out of pocket I, personally, would probably look into changing your rates... After buying all of the food and drinks and not to mention everything else you need for your daycare you are putting a lot of $$ into it and you deserve to make a decent income after putting all that money into it.

Quick question... how do you go about changing your rates with exsisting clients?! I'm curious because my very first clients that I've ever had are still with me. They have 3 children and they have never had to pay my actual going rates like my other clients do... They pay me $275/wk for all 3 kids which is less than $100/kid/week.... I've been thinking about raising their rate but am honestly unsure how to go about it because I don't to come off the wrong way... Any advice is greatly appreciated!!
TIA!!

I think my rates are kind of low too. My husband doesnt believe I should raise them to high. The Day Care's around me are charging way more than I am. Which got me wonderng about it. Especially because I do pay for everything for food, etc out of my pocket.

Did you have a contract written up when your current clients started? If not then you may consider making up a contract and let them know that you are making your business more professional and will be putting those things in place. Then have them sign a contract. In your contract I would be sure to put on your contract that they may be subject to a yearly rate increase depending on the cost of living. This just covers you if you want to make that increase because honestly .... things seem to be always getting higher and when we provide so much for the children then we need to make sure we are covering that cost and making money because no one wants to devote all of their time to child care for free.

I spent the afternoon editing my rates yesterday a little. I didnt change them alot but I did add an infant rate and changed the rate a little. I want to make it worth my time for sure.

HTH,
Rhonda

[kjm]

Originally Posted by rhonda_wahm

I think my rates are kind of low too. My husband doesnt believe I should raise them to high. The Day Care's around me are charging way more than I am. Which got me wonderng about it. Especially because I do pay for everything for food, etc out of my pocket.

Did you have a contract written up when your current clients started? If not then you may consider making up a contract and let them know that you are making your business more professional and will be putting those things in place. Then have them sign a contract. In your contract I would be sure to put on your contract that they may be subject to a yearly rate increase depending on the cost of living. This just covers you if you want to make that increase because honestly .... things seem to be always getting higher and when we provide so much for the children then we need to make sure we are covering that cost and making money because no one wants to devote all of their time to child care for free.

I spent the afternoon editing my rates yesterday a little. I didnt change them alot but I did add an infant rate and changed the rate a little. I want to make it worth my time for sure.

HTH,
Rhonda

Thanks for the response!! When I first started providing childcare in my home, I didn't have a contract. Then, once we purchased a bigger home last May and moved, I put together a contract and forms for the parents to sign to make it more official and more like a business... I didn't make a big deal about it with my very first clients because for me I am truly blessed to have them as they were my first clients/children to watch and I feel blessed to have that all fall in my lap after having my daughter... so I don't want to be really pushy with my first clients because I feel like they've opened the opprotunity for me to do what I do, ya know? I've had them for a year and a half and I am truly thankful for them as they have been great with me.... So, with that I feel kind of weird to raise their rates but I don't know.. my husband says he would a little bit but I don't know if it'd be worth it. I have room to bring in another kid, I currently provide care for 4 children full time, and so I might just bring in another kid.... I did have a 1 year old but he got to be too much. He was always so fussy and demanding that it was just too much for me to give the attention he needed plus the attention the older kids needed....

Who knows.... I really am unsure whether raising my first clients rates would be right or not... I might just have to pray about it and see what feels right...

[rhonda_wahm]

Originally Posted by kjm

Thanks for the response!! When I first started providing childcare in my home, I didn't have a contract. Then, once we purchased a bigger home last May and moved, I put together a contract and forms for the parents to sign to make it more official and more like a business... I didn't make a big deal about it with my very first clients because for me I am truly blessed to have them as they were my first clients/children to watch and I feel blessed to have that all fall in my lap after having my daughter... so I don't want to be really pushy with my first clients because I feel like they've opened the opprotunity for me to do what I do, ya know? I've had them for a year and a half and I am truly thankful for them as they have been great with me.... So, with that I feel kind of weird to raise their rates but I don't know.. my husband says he would a little bit but I don't know if it'd be worth it. I have room to bring in another kid, I currently provide care for 4 children full time, and so I might just bring in another kid.... I did have a 1 year old but he got to be too much. He was always so fussy and demanding that it was just too much for me to give the attention he needed plus the attention the older kids needed....

Who knows.... I really am unsure whether raising my first clients rates would be right or not... I might just have to pray about it and see what feels right...

I understand ... I personally wouldnt change the rate of my current clients if I raise my rates for new clients. I only had the one little boy that I have been watching for several months now (probably close to a year). I hadnt taken on anymore because we were living in a townhome. Now we have bought a big home so I am now also looking to fill the four additional spots that I have available. So I am working on doing that now.

I would say if the kids arent really demanding, they are good payers and a good family to watch then I might would just leave theirs alone Then bring on an additional child.

I even do Fill In Babysitting. Like last week I subbed for my sisters babysitting kids because my sister took a vacation to Florida. Then this week I had a family contact me that just needed a sitter for two days this week. So I am doing that. Thats a great way to add a little extra income here and there as needed too

[rhonda_wahm]

Originally Posted by rhonda_wahm

I understand ... I personally wouldnt change the rate of my current clients if I raise my rates for new clients. I only had the one little boy that I have been watching for several months now (probably close to a year). I hadnt taken on anymore because we were living in a townhome. Now we have bought a big home so I am now also looking to fill the four additional spots that I have available. So I am working on doing that now.

I would say if the kids arent really demanding, they are good payers and a good family to watch then I might would just leave theirs alone Then bring on an additional child.

I even do Fill In Babysitting. Like last week I subbed for my sisters babysitting kids because my sister took a vacation to Florida. Then this week I had a family contact me that just needed a sitter for two days this week. So I am doing that. Thats a great way to add a little extra income here and there as needed too

BTW Feel free to email me if you want to chat sometime rhonda at rhondawarren dot com