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krosey5 04-02-2016 08:28 AM

Need Advice/Opinions
 
I have been working toward closing my daycare. I currently have 1 part-time family. They have 4 children, but I only care for the youngest 2. The older 2 are school-aged & attend aftercare at school during school months. Grandma has them during the summer. I have had this family for 3 & 1/2 years. I have grown very fond of them. They are an all around great family. I have never had any issues with them.

I was offered a position at my girls' school for next year. It is in the extended care program, so it will only be after school with an occasional need before school. I was up front & honest with my family when first approached about the job at the beginning of February. I told DCM that I would stay open until the end of the summer so that she would have plenty of time to find other care. She said she was saddened by the news, but understood.

During pickup, she asked if I would consider keeping her kiddos 2 days/week (currently I have them 3) & she would have her husband pick up earlier so that I could make it to school for extended care. She also said I could take summers off if I wanted since Gma is already at the house caring for the older 2. I talked it over with my husband & agreed to make arrangements to accommodate them. I told her I would get details ironed out & we could sit down to discuss.

I am struggling with pricing, vacation, holidays, & sick time. They currently pay $165/week for part-time (3 days/week). The children are 4 years old & 1 year. Their current contracted hours are 8:15-4:45 (dad has been picking up about an hour early everyday for the last month). The 4 yo attends pre-k 2 days/week. I take her & pick her up.

My current pricing states PT is 3 days or fewer/week (up to 9hours/day).

Since I'm doing this as a favor to her (although the extra income will be nice--I won't deny that) & genuinely want to be done with in-home daycare, I'm conflicted on what I should do.

Since they will be going down to 2 days & less hours (8:15-1:30), should I reduce their weekly rate? Should I keep all the same holidays off, same amount of vacation time & sick/personal days that I have in place or reduce them?

I will be keeping my license & have already spoke to my DCFS rep. I also will keep my business liability insurance, just in case. DCM has not asked for a reduced rate, but I want to keep things fair for her. I also do not want to bend too much. I'm worried if I bend a lot, I will be losing the good business relationship we have built over the years. Our business relationship & their respect of it is what has helped our personal relationship develop to what it is.

NightOwl 04-02-2016 08:41 AM

Is it worth it to keep these two kids for only two days per week when you will have to maintain your license and pay for insurance in order to accommodate them? That's my first thought.

Yes, keep your contact, holidays, sick time the same. You'll just need to adjust your rates. Right now, they pay roughly 27.50 per child, per day. That's LOW. Mine is 35 daily but there are others on the forum that charge 50+ daily. But then again, they won't be there for the full day.

If I was in your shoes, I'd probably keep the 27.50 rate because the days are so short. That would come to $110 weekly.

krosey5 04-02-2016 09:06 AM

Originally Posted by NightOwl:
Is it worth it to keep these two kids for only two days per week when you will have to maintain your license and pay for insurance in order to accommodate them? That's my first thought.

Yes, keep your contact, holidays, sick time the same. You'll just need to adjust your rates. Right now, they pay roughly 27.50 per child, per day. That's LOW. Mine is 35 daily but there are others on the forum that charge 50+ daily. But then again, they won't be there for the full day.

If I was in your shoes, I'd probably keep the 27.50 rate because the days are so short. That would come to $110 weekly.

Thank you for replying!

Is it worth it? Ah, a question I have asked myself numerous times after agreeing. I sat down & figured my weekly expenses. If I reduce rates much, my profit won't be great (of course expenses should drop slightly with less days/hours). So, no, pay wise definitely not. I just feel bad & want to help. Emotions, eh, they suck. ;)

I actually do not have to maintain my license. Since I will only be caring for this family I can go exempt. However, my license is good until 2018 & my rep suggested leaving it until then & letting her still pop in for visits. I don't see the harm in that. Plus, I don't believe I can carry business liability insurance w/o a valid license. I may be wrong. I thought of letting the insurance go, BUT....I just want to be protected in some way. As much as I love this family & they say they love me, we all know things could turn quickly if GOD forbid anything ever happened.

I couldn't agree more--$27.50 is low, but it's the going rate for PT in my area according to our CCR&R. :(

Snowmom 04-02-2016 10:26 AM

Originally Posted by krosey5:
Thank you for replying!

Is it worth it? Ah, a question I have asked myself numerous times after agreeing. I sat down & figured my weekly expenses. If I reduce rates much, my profit won't be great (of course expenses should drop slightly with less days/hours). So, no, pay wise definitely not. I just feel bad & want to help. Emotions, eh, they suck. ;)

I actually do not have to maintain my license. Since I will only be caring for this family I can go exempt. However, my license is good until 2018 & my rep suggested leaving it until then & letting her still pop in for visits. I don't see the harm in that. Plus, I don't believe I can carry business liability insurance w/o a valid license. I may be wrong. I thought of letting the insurance go, BUT....I just want to be protected in some way. As much as I love this family & they say they love me, we all know things could turn quickly if GOD forbid anything ever happened.

I couldn't agree more--$27.50 is low, but it's the going rate for PT in my area according to our CCR&R. :(

The bolded part above tells me that even though you'd like a little extra income, you're still doing it for them vs doing it for you.
If you do feel you want to, then I'd look at ways to save money. Can you cut expenses in food areas? Could you ask the parents to contribute with activity expenses (bring preschool activities or contribute to your stash)? Are you currently buying any diapering supplies they could be responsible for instead? Look at all avenues you spend money on to see if there's alternatives.
Then, I'd adjust their rate, but only to where it makes sense FOR YOU to make a profit.

krosey5 04-02-2016 11:11 AM

Originally Posted by Snowmom:
The bolded part above tells me that even though you'd like a little extra income, you're still doing it for them vs doing it for you.
If you do feel you want to, then I'd look at ways to save money. Can you cut expenses in food areas? Could you ask the parents to contribute with activity expenses (bring preschool activities or contribute to your stash)? Are you currently buying any diapering supplies they could be responsible for instead? Look at all avenues you spend money on to see if there's alternatives.
Then, I'd adjust their rate, but only to where it makes sense FOR YOU to make a profit.

I truly am doing it for them. I'm ready to have my home back. :o I have an entire room dedicated to daycare. I'd like to finally be able to utilize it for our bedroom so our girls can have their own rooms. Not to mention having all things baby (gates, pack n plays, toys, bibs, etc) in the house that our girls have outgrown. I just keep thinking what I would do in her situation. I don't trust a lot of people. I also know it's only for a few more years. I'm positive she won't have me caring for the 4 year old once she starts Kindy. So 1 more year with her. And then it will just be the baby. Thank you for letting me talk it out. :)

Unregistered 04-02-2016 11:22 AM

And when it is only the baby, you will be making $dirt/hour.
Have you considered setting a time limit, such as, until 4 yr old begins K?


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