Daycare.com Forum Daycare Forum

Go Back   Daycare.com Forum > Main Category > Daycare Center and Family Home Forum

Daycare Center and Family Home Forum Daycare Center and Family Home owners, Directors, Operators and Assistants should post and ask questions here.

Reply
 
Thread Tools Display Modes
  #1  
Old 11-20-2015, 09:03 AM
daycare's Avatar
daycare daycare is offline
Advanced Daycare.com Moderator
 
Join Date: Feb 2011
Location: Mars
Posts: 16,021
Default How Much to Raise, CA wages

So in Jan 2016 minimum wage will go up one whole dollar at $10.

Currently I have a few employees that are hired at the minimum wage.

I am not good at the math stuff and not too sure how to figure out how to increase my rates to support this new wage increase.

Also, in the last three months the cost of food is getting to become out of control. I am already on the food program, getting the lowest tier possible.
I slightly raised my rates back in August, but I won't have a choice but to raise them again.

Many comapnies around here just gave another COLA rasie.

How do I figure out how much to increase my daycare rates?

thanks.
Reply With Quote
  #2  
Old 11-20-2015, 10:46 AM
Blackcat31's Avatar
Blackcat31 Blackcat31 is offline
 
Join Date: Oct 2010
Posts: 19,760
Default

I don't think you are going to find a straight across the board easy answer to that since only you know your expenses and revenue and how that balances now.

You need to figure out how much money you need each month to pay your expenses (food and employees included) and the charge accordingly.

I don't think you can just raise your rates by $5 a week (for example) and call it good. There are too many variables involved.
Reply With Quote
  #3  
Old 11-20-2015, 01:10 PM
NoMoreJuice!'s Avatar
NoMoreJuice! NoMoreJuice! is offline
Daycare.com Member
 
Join Date: Jan 2014
Location: KS
Posts: 715
Default

I agree, too many factors. But here's an estimate:

If you have 2 employees that you will be paying $1 more per hour to, (I'm going to assume they're full time), that's an extra $80 per week. Adding in 6.2% for FICA, that's about $85 a week. Depending on how many children you have enrolled, let's assume 20, you would split the cost between the 20, so $4 a week per child.

Groceries I can't help you, because your cost may be different than mine, but $5 per child, or $100 a week total wouldn't be an unreasonable guess.

That's approx. $10 per week per child total. I have no idea what your rates are, or if your parents would squeal about $10, but it doesn't sound like too much to me.

Last edited by NoMoreJuice!; 11-20-2015 at 01:12 PM. Reason: Math...lol
Reply With Quote
  #4  
Old 11-20-2015, 01:22 PM
daycare's Avatar
daycare daycare is offline
Advanced Daycare.com Moderator
 
Join Date: Feb 2011
Location: Mars
Posts: 16,021
Default

perfect I did it right. thanks for posting this. I was not 100% certain that I did it right and it looks like there will be about a $38 monthly increase per child.
Reply With Quote
Reply

Tags
employee pay, minimum wage, wages

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Claiming Wages wdmmom Daycare and Taxes 1 01-21-2014 01:35 PM
How Soon Is Too Soon To Raise Rates?? Tdhmom Daycare Center and Family Home Forum 9 09-02-2013 11:33 AM
When Should I Raise Rates? EchoMom Daycare Center and Family Home Forum 0 06-29-2012 08:54 AM
Can I Raise Prices Whenever I Want? EchoMom Daycare Center and Family Home Forum 9 06-20-2012 02:15 PM
Do You Raise Your Voice? DancingQueen Daycare Center and Family Home Forum 7 09-17-2010 04:57 PM


All times are GMT -7. The time now is 06:46 PM.



Daycare.com         Find A Daycare         List Your Daycare         Toys & Products                 About Us

Daycare.com
Please read our Disclaimer before continuing.

Topics pertain mainly to the following States:

Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming