Daycare.com Forum
Daycare Center and Family Home Forum>Weekly rates vs. daily rates
KayzKidz 10:31 PM 10-21-2014
So I am in need of some more income coming in and I have a few families who are part time.
Family 1: 2 children on Wednesday-Friday
Family 2: 1 child 2-3 days a wk (usually afternoon only 1-5ish)
Family 3: 2 school age children.. one boy is usually here before/after school 1-2 days a wk, and the other is 1-2 full days and 1-2 before/after school depending on his schedule that week for all day Kindergarten.
Here's my dilemma.. They are all wonderful families but they are taking up 5 spots in my childcare that could potentially be filled with full time monday-friday families. I don't personally want to loose any of them, but at the same time I need more income.
So do I raise my daily rate? Make a part time weekly rate? Weekly before/after school rate? I have only been doing licensed in home childcare for a year now, so I am very new to all of this! I don't want to make anyone angry and them find care elsewhere, which I don't think would happen with these families. Ideas??
Thanks!!
Family 1: 2 children on Wednesday-Friday
Family 2: 1 child 2-3 days a wk (usually afternoon only 1-5ish)
Family 3: 2 school age children.. one boy is usually here before/after school 1-2 days a wk, and the other is 1-2 full days and 1-2 before/after school depending on his schedule that week for all day Kindergarten.
Here's my dilemma.. They are all wonderful families but they are taking up 5 spots in my childcare that could potentially be filled with full time monday-friday families. I don't personally want to loose any of them, but at the same time I need more income.
So do I raise my daily rate? Make a part time weekly rate? Weekly before/after school rate? I have only been doing licensed in home childcare for a year now, so I am very new to all of this! I don't want to make anyone angry and them find care elsewhere, which I don't think would happen with these families. Ideas??
Thanks!!
KidGrind 03:12 AM 10-22-2014
Originally Posted by KayzKidz:
So I am in need of some more income coming in and I have a few families who are part time.
Family 1: 2 children on Wednesday-Friday
Family 2: 1 child 2-3 days a wk (usually afternoon only 1-5ish)
Family 3: 2 school age children.. one boy is usually here before/after school 1-2 days a wk, and the other is 1-2 full days and 1-2 before/after school depending on his schedule that week for all day Kindergarten.
Here's my dilemma.. They are all wonderful families but they are taking up 5 spots in my childcare that could potentially be filled with full time monday-friday families. I don't personally want to loose any of them, but at the same time I need more income.
So do I raise my daily rate? Make a part time weekly rate? Weekly before/after school rate? I have only been doing licensed in home childcare for a year now, so I am very new to all of this! I don't want to make anyone angry and them find care elsewhere, which I don't think would happen with these families. Ideas??
Thanks!!
The greatest DCFs WILL ALWAYS do what is best for them.So I am in need of some more income coming in and I have a few families who are part time.
Family 1: 2 children on Wednesday-Friday
Family 2: 1 child 2-3 days a wk (usually afternoon only 1-5ish)
Family 3: 2 school age children.. one boy is usually here before/after school 1-2 days a wk, and the other is 1-2 full days and 1-2 before/after school depending on his schedule that week for all day Kindergarten.
Here's my dilemma.. They are all wonderful families but they are taking up 5 spots in my childcare that could potentially be filled with full time monday-friday families. I don't personally want to loose any of them, but at the same time I need more income.
So do I raise my daily rate? Make a part time weekly rate? Weekly before/after school rate? I have only been doing licensed in home childcare for a year now, so I am very new to all of this! I don't want to make anyone angry and them find care elsewhere, which I don't think would happen with these families. Ideas??
Thanks!!
Your business is childcare. The end game is to make money.
Some providers make the mistake of charging part-time families the same rate structure as full-time rate structure.
I don’t know the rates in your area.
I’ll pretend it is $100 per week.
Your full-time families pay $20 per day.
I would charge a part-time family for two days a week $64 per weeks. They could attend no more than two days a week. Absolutely no switching of days for any reason.
If you do this right two part-time families will bring you in more money than one full-time family. You have one family come Monday/ Wednesday and the other Tuesday/Thursday. Fridays would not be available for part-time families to lighten your work load.
The part-time daily rate is 150% of the full-time daily rate with a $2 a day convenience fee attached.
So the part-time families eating up your spots generates enough income instead of hindering you.
Cat Herder 04:52 AM 10-22-2014
I started with 6 full time slots and 4 part-time slots (8 kid ratio).
Part time slots 1 & 2 were Monday, Wednesday, Friday
Part Time Slots 3 & 4 were Tuesday, Thursday
I had specific rates for each slot, the formula was FT Rate divided by 5 plus 10 multiplied by number of days (3 or 2).
The plus 10 was to cover the extra supplies like personal use nap mats, PNPs and curriculum.
That was back when I was allowed 8 kids. When they dropped us down to 6, I cut loose all my part time clients and raised the full-time rates to cover the lost income (like everyone else in the state). I told them if it was a problem they needed to take it up with their elected leaders.
Childcare just got more expensive because of them, not us.
Now I am 6 full-time slots only, tuition has nothing to do with attendance. SO much easier... but, yes, I still have to hear "daycare is too expensive". Again people, take it up with your elected leaders.
I liked my nicely rounded group of 8.
Part time slots 1 & 2 were Monday, Wednesday, Friday
Part Time Slots 3 & 4 were Tuesday, Thursday
I had specific rates for each slot, the formula was FT Rate divided by 5 plus 10 multiplied by number of days (3 or 2).
The plus 10 was to cover the extra supplies like personal use nap mats, PNPs and curriculum. That was back when I was allowed 8 kids. When they dropped us down to 6, I cut loose all my part time clients and raised the full-time rates to cover the lost income (like everyone else in the state). I told them if it was a problem they needed to take it up with their elected leaders.
Childcare just got more expensive because of them, not us. Now I am 6 full-time slots only, tuition has nothing to do with attendance. SO much easier... but, yes, I still have to hear "daycare is too expensive". Again people, take it up with your elected leaders.
I liked my nicely rounded group of 8.
Blackcat31 05:29 AM 10-22-2014
I offer rates as follows (I'll use Kid Grind's $20 per day stance)
5 days per week $100
4 days per week $88
3 SAME days each week $72
3 VARYING days each week $78
Anything less than 3 days is considered drop in care and is only available when I have other kids absent so families can not schedule drop in care but have to check weekly/daily for openings.
I also adjust rates according to pick up times. The later a family picks up, the higher their daily average rate will be.
The biggest thing I think most providers do incorrectly when setting rates is allowing a part time family to have access to a full time space and then not charge for it.
I allow 3 day a week families to have a varying schedule but I set limits such as they can only use 3 days MAX and 9 hours per day MAX. If they need more than that, they pay for a full time space.
A majority of families that work a varying schedule still work 7 days a week so most times they aren't losing out on full time pay but allowing them to just switch days back and forth causes YOU to lose money for that full time slot.
Since I made the move to using a graduated rate scale like I mentioned above, I make MORE money and work LESS hours. I know EXACTLY when I am off work each day and over the summer months actually averaged about 2 unplanned days off but yet didn't really lose any money.
My only regret is that I didn't figure out how to do this earlier in my career. Especially when I was putting in 12-13 hour days with no days off and every.single kid I had enrolled here from open to close every.day!
5 days per week $100
4 days per week $88
3 SAME days each week $72
3 VARYING days each week $78
Anything less than 3 days is considered drop in care and is only available when I have other kids absent so families can not schedule drop in care but have to check weekly/daily for openings.
I also adjust rates according to pick up times. The later a family picks up, the higher their daily average rate will be.
The biggest thing I think most providers do incorrectly when setting rates is allowing a part time family to have access to a full time space and then not charge for it.
I allow 3 day a week families to have a varying schedule but I set limits such as they can only use 3 days MAX and 9 hours per day MAX. If they need more than that, they pay for a full time space.
A majority of families that work a varying schedule still work 7 days a week so most times they aren't losing out on full time pay but allowing them to just switch days back and forth causes YOU to lose money for that full time slot.
Since I made the move to using a graduated rate scale like I mentioned above, I make MORE money and work LESS hours. I know EXACTLY when I am off work each day and over the summer months actually averaged about 2 unplanned days off but yet didn't really lose any money.
My only regret is that I didn't figure out how to do this earlier in my career. Especially when I was putting in 12-13 hour days with no days off and every.single kid I had enrolled here from open to close every.day!
midaycare 06:35 AM 10-22-2014
I also use a scale like kidgrind's. I don't allow for varying days unless they want to pay for those varying days; so if they want to attend 2 days but it will switch every week Mon-Thurs, they will be paying me for 4 days. My 4 day and 5 day rate has only a $5 difference between them.
KayzKidz 08:41 AM 10-22-2014
Thank you all for all the ideas and prices!!! I'm going to work out my current rate in all the ways yall mentioned and see what makes the most sense for my part time families. Thanks again!! 
AuntTami 08:01 PM 10-22-2014
Originally Posted by Blackcat31:
I offer rates as follows (I'll use Kid Grind's $20 per day stance)
5 days per week $100
4 days per week $88
3 SAME days each week $72
3 VARYING days each week $78
Anything less than 3 days is considered drop in care and is only available when I have other kids absent so families can not schedule drop in care but have to check weekly/daily for openings.
I also adjust rates according to pick up times. The later a family picks up, the higher their daily average rate will be.
The biggest thing I think most providers do incorrectly when setting rates is allowing a part time family to have access to a full time space and then not charge for it.
I allow 3 day a week families to have a varying schedule but I set limits such as they can only use 3 days MAX and 9 hours per day MAX. If they need more than that, they pay for a full time space.
A majority of families that work a varying schedule still work 7 days a week so most times they aren't losing out on full time pay but allowing them to just switch days back and forth causes YOU to lose money for that full time slot.
Since I made the move to using a graduated rate scale like I mentioned above, I make MORE money and work LESS hours. I know EXACTLY when I am off work each day and over the summer months actually averaged about 2 unplanned days off but yet didn't really lose any money.
My only regret is that I didn't figure out how to do this earlier in my career. Especially when I was putting in 12-13 hour days with no days off and every.single kid I had enrolled here from open to close every.day!
Could you PM me and explain this a bit more? Maybe I'm kind of dense tonight, but this sounds like an AMAZING idea that I DEFINITELY need to get on board with since I CANNOT find full time families to save my life, and I'm losing money hand over fist! But, I don't fully understand...I offer rates as follows (I'll use Kid Grind's $20 per day stance)
5 days per week $100
4 days per week $88
3 SAME days each week $72
3 VARYING days each week $78
Anything less than 3 days is considered drop in care and is only available when I have other kids absent so families can not schedule drop in care but have to check weekly/daily for openings.
I also adjust rates according to pick up times. The later a family picks up, the higher their daily average rate will be.
The biggest thing I think most providers do incorrectly when setting rates is allowing a part time family to have access to a full time space and then not charge for it.
I allow 3 day a week families to have a varying schedule but I set limits such as they can only use 3 days MAX and 9 hours per day MAX. If they need more than that, they pay for a full time space.
A majority of families that work a varying schedule still work 7 days a week so most times they aren't losing out on full time pay but allowing them to just switch days back and forth causes YOU to lose money for that full time slot.
Since I made the move to using a graduated rate scale like I mentioned above, I make MORE money and work LESS hours. I know EXACTLY when I am off work each day and over the summer months actually averaged about 2 unplanned days off but yet didn't really lose any money.
My only regret is that I didn't figure out how to do this earlier in my career. Especially when I was putting in 12-13 hour days with no days off and every.single kid I had enrolled here from open to close every.day!
My contract states that full timers take precedence over part timers, meaning if I find a full time family that needs the spot, I term a part time family. Thus far, I havn't done that since, well I don't have any part timers right now, and only one full timer, but it's an idea...