How much to charge in Mississauga & any tips?

I am opening a home daycare /before and after care in Mississauga (Lorne Park), and I am not sure how much to charge.
I want to set up my daycare to take teachers' kids, so I can still have the holidays with my own family.
I have one client so far, my best friend since childhood, who will return to work (she is a teacher) in September when her son turns one.

I am a former Elementary Teacher with the Peel Board, but I am now giving up my position to keep staying home with my kids (2.5 yrs and 5.9 yrs.) full time. So far I will have a one year old, an almost 3 year old (who will be attending preschool 3 mornings/ week). My own daughter starts grade one this year, so I thought of trying for another couple of children after school as well. Maybe another 3-day preschooler, or another one-year-old, if it is manageable. I'll have to see how I go, as I like things to be under control (I am used to minding 20+ school aged kids though, so take "under control" with a grain of salt).

So my main question is, how much should I charge?
I am thinking of charging $260/week (including short weeks) but nothing for summer/Christmas/March Break. This works out to the same as $200/week all year round. I don't want to charge to little, but I am not in it just for the money, either.
I would love some advice on this, or any other tips.
Thanks!

Congratulations on your new endeavor!

What to charge is going to vary vastly on your area - the going rate in MY area is on average between $150 - 200 a week for full time care depending on demand in the area of the city, program style or niche, provider experience, etc.

If you want to see if your projected fee is 'competitive' I would put your postal code into the search engine on Daycarebear and see what providers in your area are charging.

I would also call around and find out what centres and other types of programs offering a similar service charge.

When calling centres and looking at ads on here - try to determine 'demand' for this service - are there A LOT of ads with providers seeking clients or only a few - do centres have waitlists and so forth ... because if the demand is LOW for service in your area it will take you a LONG time to fill up specially being new because even being a 'teacher' with experience cleints are going to be wary of your reliability as to whether you will STAY in business or give up after a few months because sadly this is the things clients are told when seeking care 'beware the newbie' :(

Once you have an idea of the 'average' fees in your area and demand I would than sit down and think about what you want to offer to the crew and what expenses that will incur ... what do you want to budget for food, creative art and other program supplies, any field trips and outings, advertizing and office expenses, professional development for your business, increase in cost of gas / hydro from doing business in your home, insurance ryder etc in order to feel proud of the program you offer and competitive to others in your area ... and and than figure out what you need to EARN after those expenses to make staying home viable option for you .... how many children will you need to have at the above fee to be viable cause IMO if you must be FULL at all times you might want to reconsider as that is not realistic - even when your program is amazing and there is a demand there are going to be times between one child leaving and another starting where you have no income in that space .... you want to make sure your FEES are going to cover for those times to have a buffer for putting $$$ into a business savings account for rainy day, taxes, if you are sick and so forth.

Good luck on your new venture ... truly is the best job in the world being self employed doing what we do ;)

Thanks for this advice! I really appreciate it.:)

Hi there,

I see that you re in the Lorne Park area. I have a daughter that will be starting Grade 1 at Tecumseh P.S and I need before and after school care for two days a week. She is currently on the waiting list for PLASP part time. Would you be interested?
Please call Camille 416 845 3502
Thank You

Hello,
Congratulations on your endeavor, I hope that your home daycare is successfully up and running at this time. I very recently stumbled upon your posting which you submitted quite some time ago. So I am taking a chance here trying to reach you. Both my husband and I are elementary school teachers seeking child care for our son. He is 16 months old. We are seeking childcare in Lorne Park that does work in line with our schedules as we would not need care during the Christmas, March and summer breaks. If you have any available spots I welcome the opportunity to discuss with you further and arrange a visit to your daycare. I would be looking for September 2013 and possibly The month of June. Please contact me at m_mhines@yahoo.ca

Thank you

Quote:

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Originally Posted by powderwing

I am opening a home daycare /before and after care in Mississauga (Lorne Park), and I am not sure how much to charge.
I want to set up my daycare to take teachers' kids, so I can still have the holidays with my own family.
I have one client so far, my best friend since childhood, who will return to work (she is a teacher) in September when her son turns one.

I am a former Elementary Teacher with the Peel Board, but I am now giving up my position to keep staying home with my kids (2.5 yrs and 5.9 yrs.) full time. So far I will have a one year old, an almost 3 year old (who will be attending preschool 3 mornings/ week). My own daughter starts grade one this year, so I thought of trying for another couple of children after school as well. Maybe another 3-day preschooler, or another one-year-old, if it is manageable. I'll have to see how I go, as I like things to be under control (I am used to minding 20+ school aged kids though, so take "under control" with a grain of salt).

So my main question is, how much should I charge?
I am thinking of charging $260/week (including short weeks) but nothing for summer/Christmas/March Break. This works out to the same as $200/week all year round. I don't want to charge to little, but I am not in it just for the money, either.
I would love some advice on this, or any other tips.
Thanks!

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Hi, I'm looking for before and after school care for Kindergarten in Lorne Park Mississauga. My son will be commencing school next fall (2017). Anyone out there?

Thank you,
Betty