How Do You Figure Rates?

[dave4him]

I'm trying to make sure my rates are fair for the OK Day rates. How do you figure them? Is 35$ a day fair for my one kid who is there three days a weekend takes up a full time spot?

[Michael]

Some similar posts: https://www.daycare.com/forum/tags.p...and+reasonable

[jessrlee]

It really depends on your area. I would check center websites, and do some calling around to see if you are in the right ballpark. For me, it took a couple of years to become comfortable with the whole money thing.

[awestbrook713]

I found out what the average in my area was. They usually have an hourly, daily, and weekly. I wanted to go with a weekly set rate so this is how I did it and it seems to be working well: Daily average around my area is $30 a day so I went lower and made it $25 a day then I multiplied that by number of days the child is here so if they are here all 5 days there weekly rate is $125. Parents pay that whether child is here all 5 days or not. Hope this helps ya!!

[Cat Herder]

I really did not care, at all, what my competition was charging. I never really looked at first.

I just calculated up all my monthly bills to get the minimum amount I would have to earn to be ABLE to provide childcare in my home and still survive. Otherwise there was no point in opening.

I then added my monthly IRA contribution, christmas fund contribution, emergency fund contribution and a "supplies" buffer amount. Then I multiplied it by 12 months. I then took that number and divided it by 6 slots (my legal maximum).

I had to work out the number of weeks I would be open, minus the 2 weeks unpaid vacation they all have available, and the two weeks unpaid I take, to get a weekly rate.

Sounds more difficult than it was...