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  #1  
Old 11-19-2019, 09:46 PM
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Question Figuring Out My Prices to Charge & Need Help

I have an idea of what I want to charge but need some advice or input. I'm going to try and get filled up with full timers, however I've seen that part time care is often needed by parents. So I want to have part time prices set up in case it's a higher demand then full time. Here is how I am planning to charge. Let me know if it sounds good. (Just asking if price difference for full & part time is good)
200 week full time 5 days 9 hrs
170 week part time 3 days 9 hrs (set days)
140 week part time 2 days 9 hrs (set days)
Example for part time 3 days m-w-f
Part time 2 days t-th
Thanks for reading this and giving feedback
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  #2  
Old 11-20-2019, 05:29 AM
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I based my tuition on my personal financial needs. Will those rates allow you to pay your monthly bills, insurance, retirement and build an emergency fund?
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Old 11-20-2019, 06:12 AM
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I set my tuition as per day x number of days needed. So $45/day x days needed. That rate then become their permanent tuition, even if they don't use all the days. Part time (less than 4 hours/day) is $25/day.

Does that help?
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Old 11-20-2019, 07:01 AM
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I used to charge part time rates and charged per day needed. Those days could not change. So $52 per day x days needed. I also only had part timers and they all came on the same days so I was working less.

Now I charge full time rate no matter what unless it is convenient for me. I am working 5 days a week so I get no benefit from having part timers.
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Old 11-20-2019, 03:11 PM
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I'll definitely go over all my monthly bills and see if what I'm charging is actually going to be making a profit. I only want full time children but I know I'll have parents ask about part time. I just want to have numbers ready so I don't have to say let me figure this out. Part time kids would be only if I can't find full time kids. Thank you 3 for replying and letting me know how you charge.
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Old 11-20-2019, 05:17 PM
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$250/week for 5 days
$55/day for part time (1-4 days).

I looked at what centers were charging and how high the need for care is.
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Old 11-21-2019, 05:35 AM
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Originally Posted by jenboo View Post
$250/week for 5 days
$55/day for part time (1-4 days).

I looked at what centers were charging and how high the need for care is.
It is crazy how different pricing in other areas can be. Your rates are my rates for two kids, and I do pretty well.
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Old 11-21-2019, 05:51 AM
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Originally Posted by Cat Herder View Post
It is crazy how different pricing in other areas can be. Your rates are my rates for two kids, and I do pretty well.
It amazes me what my county charges, then the county up above me nearly doubles and the next county after that increases greatly as well. Most of my clients work in these neighboring counties but live here because it is cheaper to live in this area. While their daycare is cheaper than in the county they work in, I get paid 52 weeks a year with all my days off. I think that might be why that is accepted so well from my clients???? I do think I get a good clientele this way! Just my opinion!
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Old 11-21-2019, 06:28 AM
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I think your tuition is fine,As previous poster said "as long as you can make a profit".I would charge 250. full time then add 225 -4 days, keep the other 140 -2 days,180.-3days.Just a little more.They would have to work around my schedule.I did get it to work that two families shared the week.One year I had Fridays off ,it was great.
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Old 11-21-2019, 11:58 AM
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Quote:
Originally Posted by MissLisa08 View Post
I have an idea of what I want to charge but need some advice or input. I'm going to try and get filled up with full timers, however I've seen that part time care is often needed by parents. So I want to have part time prices set up in case it's a higher demand then full time. Here is how I am planning to charge. Let me know if it sounds good. (Just asking if price difference for full & part time is good)
200 week full time 5 days 9 hrs
170 week part time 3 days 9 hrs (set days)
140 week part time 2 days 9 hrs (set days)
Example for part time 3 days m-w-f
Part time 2 days t-th
Thanks for reading this and giving feedback
Just remember, your hourly pricing for part-timers should be higher than for full-timers.
Fewer hours a kid is in your service higher should be an hourly rate for him.
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  #11  
Old 11-21-2019, 12:49 PM
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Quote:
Originally Posted by rosieteddy View Post
I think your tuition is fine,As previous poster said "as long as you can make a profit".I would charge 250. full time then add 225 -4 days, keep the other 140 -2 days,180.-3days.Just a little more.They would have to work around my schedule.I did get it to work that two families shared the week.One year I had Fridays off ,it was great.

Thank you for your example 😊
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  #12  
Old 11-21-2019, 12:51 PM
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Quote:
Originally Posted by Unregistered View Post
Just remember, your hourly pricing for part-timers should be higher than for full-timers.
Fewer hours a kid is in your service higher should be an hourly rate for him.
Thank you 😊 yes I will keep that in mind. So glad I have people that can help out with these uncertainties
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  #13  
Old 11-21-2019, 12:54 PM
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Quote:
Originally Posted by Annalee View Post
It amazes me what my county charges, then the county up above me nearly doubles and the next county after that increases greatly as well. Most of my clients work in these neighboring counties but live here because it is cheaper to live in this area. While their daycare is cheaper than in the county they work in, I get paid 52 weeks a year with all my days off. I think that might be why that is accepted so well from my clients???? I do think I get a good clientele this way! Just my opinion!
This is kind of what it would be like for me. We live in a smaller town but everyone commutes to a higher paying area. Childcare over there is double what I'd be charging
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Old 11-21-2019, 02:02 PM
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Quote:
Originally Posted by Cat Herder View Post
It is crazy how different pricing in other areas can be. Your rates are my rates for two kids, and I do pretty well.
It is!
Our wages are super low and everyone has been moving here making our COL higher than most can afford.
I actually am the second highest when it comes to tuition with just one center that charges more. I only take kids 0-24 months and there is a high need for infant care. Due to the niche I found, I can charge a lot... but with our COL, I'm still barely making it.
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Old 11-21-2019, 02:17 PM
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Originally Posted by jenboo View Post
It is!
Our wages are super low and everyone has been moving here making our COL higher than most can afford.
I actually am the second highest when it comes to tuition with just one center that charges more. I only take kids 0-24 months and there is a high need for infant care. Due to the niche I found, I can charge a lot... but with our COL, I'm still barely making it.
That is exactly what is happening just two miles from me, in the city limits. People are buying up farms and building apartments, condos, and subdivisions driving up housing costs. I am still county and have owned for a while, now. I could not start back up here. 2 bedroom apartments are going for what I pay monthly for my mortgage with 7 acres.
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  #16  
Old 11-21-2019, 07:41 PM
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Quote:
Originally Posted by jenboo View Post
It is!
Our wages are super low and everyone has been moving here making our COL higher than most can afford.
I actually am the second highest when it comes to tuition with just one center that charges more. I only take kids 0-24 months and there is a high need for infant care. Due to the niche I found, I can charge a lot... but with our COL, I'm still barely making it.
Same situation with where I live. I'll call around tomorrow and see what centers are charging in my area. I've only tried to see what other home daycares charge.
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  #17  
Old 11-21-2019, 07:45 PM
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Quote:
Originally Posted by Cat Herder View Post
I based my tuition on my personal financial needs. Will those rates allow you to pay your monthly bills, insurance, retirement and build an emergency fund?
I'm running the numbers tomorrow and I'll figure out how to make sure I'm making a profit. And I definitely need to be able to put money away. Thanks!
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  #18  
Old 11-21-2019, 07:47 PM
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[quote=Msdunny;711434]I set my tuition as per day x number of days needed. So $45/day x days needed. That rate then become their permanent tuition, even if they don't use all the days. Part time (less than 4 hours/day) is $25/day.

Does that help?
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  #19  
Old 11-21-2019, 07:49 PM
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MissLisa08 MissLisa08 is offline
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Quote:
Originally Posted by Msdunny View Post
I set my tuition as per day x number of days needed. So $45/day x days needed. That rate then become their permanent tuition, even if they don't use all the days. Part time (less than 4 hours/day) is $25/day.

Does that help?
Yes it helped & thank YoU
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