I am working on my 2022 rates this evening. My online searching tells me that the average rate for in-home daycares went up 69%
from 2019 to 2020.
What I know is that I have not been charging enough all of my years in business, but that I have always been at the top of the rate scale. I don't know of any in-homes that charge more than I do, and only one other that charges the same that I do. I was considering a 30% increase due to my own issue with not charging enough, my extremely increased expenses in the last 2 years, and the fact that our clients, locally, have received HUGE pay increases to finally start addressing terribly low wages. Parents have received 10%, 20%, and even higher wage increases (again, they were VERY LOW here before-some went from $9/hr to $20). Then, there's the $300/mo child credit, too, that was to help pay for childcare. I haven't yet decided what to do with my rates, but I am thinking 25% to 40% increase. I have low enrollment right now (by choice, I didn't fill my spots this fall when kids returned to school, and want to have my wages set when I start accepting kids again in January), so there's no better time to increase rates for me, I think.
I'm very interested in what others are doing as far as increases. Groceries are insane here, and I know that I COULD cut corners, but I pride myself on serving balanced AND palatable full meals, made from scratch. I should add that we have lost a LOT of daycares in this city recently-due to regulatory changes as well as just not being able to make it financially on what parents are willing to pay. They will pay more for higher quality, I know, but will they pay enough for me to make a decent wage? Years ago, my rates were working for me, but these last 5 or so, I have known that this day is coming that I'll be the talk of the childcare community for my insane rates. I just want to do more than break even next year.