Determining daily rate

[LynseyT]

Hello Everyone!
I will be opening a daycare in the new year. I was wondering how you determine how much to charge? What are the factors you consider when choosing how much to charge?
This is my first time running a daycare. I have lots of experience with children including a few early childhood education classes, but I do not have my ECE diploma. I have a four year old daughter who is in JK. We live in a detached home with a big backyard and located in a great neighborhood. The average daily rate in my area is anywhere from $40-$50.
I want to charge $45 but im not sure if that is too high or too low. Help!

[BlueRose]

I do a weekly rate instead of a daily. I find it works better for my daycare.

you need to look at
- other providers in your area (ranges from $35/day to $100/day depending on city and niebourhood)
- what you are offering
- what your expensives are

don't sell yourself short, you desirve a desent wage.

I started off low and over a few years was charging the highest rate in the area. I was told that no one would pay it, they where wrong. I am now full and get between $260 - $280/week ($52 -$58/day).

I would start at either $45 or $50 and go from there. (unless your areas average is higher)

[mamaof4]

Good luck!