Rates and vacation time

[Bookworm]

I recently did what Playfelt suggested about searching on this site for rates of daycares nearby and found that they were all charging $35, so all my new clients will be charged that. Currently my clients are paying $32. I honestly don't think you will find many people interested in paying $40 as $35 seems to be the newest highest price people are charging (I hope that makes sense).
When my daughter was in daycare I paid $32/day plus stats but nothing for vacation time.
Hope this helps.

[Crayola kiddies]

I'm in the Ottawa area and parents pay for all 52 weeks of the year .... The only days not paid are my sick days ..... The average here is $40/day

[shopgirl]

wow! glad i found this site. you ladies are all so helpful!

i found most places were $35.00 but saw a couple at $40 and was wondering what justified them with that price. however for all I know they have 1 spot filled. I wasnt sure if it was always 35$ and people are starting to raise thier prices to 40 which is why I saw a couple places like that. however it sounds like 35 is actually the new norm and there must just be a couple who are either trying for more or maybe they are in demand and can charge that.

I am so look forward to this. a little down that Ashleigh mentioned there are alot of daycares in the area. hmm thats not good. its what i want do do. trying to get everything in place for September. if i cant be totally ready by then then i will probbaly wait till after christmas in january so as you can see i am just in the very early steps in getting ready.

playfelt - chart is a great idea. think i will start there. thanks!

[ECE53]

In a south suburb of Ottawa 49.50/day. Three weeks paid holidays and one unpaid.5 paid sick days and two paid personal days. Paid for all government stats and family day. It took me a little while to work up to this but glad I valued myself enough because this is a difficult job and we need a break.

[Bookworm]

I wouldn't be discouraged. I would get your daycare area set up as soon as possible and start advertising now so that parents will see that you are ready and know what the set up will be like. Just to let you know, that because you are new (like me) it may take a while to get full, but it will happen, and that is due to being new, not because of the amount of daycares in this area.

[shopgirl]

ashleigh - ok so what you are saying is that there is a demand enough to be full but being new its harder to get children at first (assuming parents are more leary about going to a new place) and once you have been established for awhile there should be no problem being full? income aside it would probably be nice to start slow anyways to get into a groove i guess.

[Bookworm]

Well, I can only speak from my own personal experience. I have been open since January, and I have 2 spots still to fill. I have had a few inquiries, but so far nothing has come of it. I am a qualified teacher who chose to stay home with my kids rather than start my career, so I let people know that.
I am quite confident that I will become full at some point, but when I don't know. I created a website to let potential people know what I offer and my rates, so that my time is not wasted and neither is theirs by those not fully interested in using my services.

[Inspired by Reggio]

I am in Ontario.

My fees are based on the 'space' being occupied in my program not your attendance in it ... allowing non payment to clients for sick days, vacation or what not opens a HUGE can of worms in regards to trying to BUDGET for your business...I personally could not afford to offer clients unpaid vacation on THEIR part because if all 5 clients choose to take the SAME suddenly you have no revenue coming in but you still have your bills to keep the business viable and so forth!

I have two fee options for parents depending on how they like to budget.

$160 / week for full time space Monday - Friday 9 hours a day max - you pay the same fee 52 weeks and the program is closed for all stats, 10 days of vacation and 10 personal days a year.

$173 / week for full time space Monday - Friday 9 hours a day max - you pay for Stat closures but when I close for vacation or a personal day your fee is lowered that week $34.60 / day for each day closed.

Either way at the end of the year I am making the SAME amount of $$$ it is just all in how clients prefer to budget and when I have clients on fee plan B I just make sure to put an extra $13 of their fees into my savings each week if I am sick and need a day off I am not 'hurting'.

[jec]

I am also in Ontario and charge 170/week
I take 2.5 weeks vacation where I don't get paid and then as long as daycare parents give me two weeks written notice, they can take an extra 2 weeks of their own unpaid.
All stat/civic holidays are paid regardless of time away from daycare.

As a Mom who worked outside the home, I used to hate that my daycare provider used to dictate holidays and then if I was taking any other time off, I'd have to pay 50% of her fee. that used to dig into our holiday money that we worked hard to put aside.
Having the two weeks written notice gives me time to make adjustments knowing that I'll be missing that income for the time they are off.

[Inspired by Reggio]

See ... I agree it can be a challenge to budget for things .... however when you go on vacation you still need to pay your RENT/MORTGAGE, PHONE BILL, CABLE, GYM MEMBERSHIP and any other services that are based on the 'space' used principle and IMO it is no different in OUR business either!

I know some banks now are having a 'vacation' from your Mortgage payment as a selling feature - but the reality is you pay MORE 11 months of the year so that you can take 1 month on when you take your summer vacation or what not ... you are still paying the SAME it is all in how you budget it

So for example .... if I was going to offer clients 2 weeks vacation were they did not pay me than my fees would just be $7 more a week on my pay options and I would put away $20 a pay from each client into savings to cover that 'down time' in income - but either way I would be making the same amount of money I NEED to make this a viable business option for me at the end of the year