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Old 01-12-2012, 08:10 PM
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dave4him dave4him is offline
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Default How Do You Figure Rates?

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?
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Old 01-13-2012, 12:42 AM
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Some similar posts:
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Old 01-13-2012, 04:31 AM
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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.
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Old 01-13-2012, 04:48 AM
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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!!
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Old 01-13-2012, 06:02 AM
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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...
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rate - fair and reasonable

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