XP: Need help coming up with rates for my in-home daycare — The Bump
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XP: Need help coming up with rates for my in-home daycare

I watch kids in my home.  Right now, I am just watching a 6 month old a few days a month.  DH and I are barely scraping by with just this income.  We are actually losing a little bit of our savings each month and I'm about to start grad school next summer.  I put an add on CL to see if I could start watching another kid.  I'm just having trouble coming up with rates, because I've gotten 3 emails so far.  I charge the 6 month old $50 a day.  I usually do cheaper rates for full time.  One woman has two girls, ages 2 and 4.  I'm torn because normally I would charge $775 for the 2 year old and $725 for a 4 year old.  That adds up to $1500 a month, which in my opinion wouldn't be worth it for most working moms.  So I was thinking of taking off 200 and charging her $1300.  Part of me still thinks that's high.  It works out to almost $60 a day.  The problem is, if I go any lower, I'm not sure it's worth my own time. 

If you have 2 kids, how much do you pay for both of them?  Do you get a discount for having 2 kids?  How does $1300 for 2 kids sound to you?  I don't live in a huge city, just the suburbs of Raleigh, NC.  The only comparison I can make is that my neighbor across the street watches kids and she told me she charges $40 a day.  I'd ask DH for his opinion, but he says charge $45 per day per kid (990 per month)and that includes food.  While it'd be awesome to get that much, the parents would have to make a lot of money to afford it.  What do you think?  Is $1300 for 2 kids fair? 

ETA:  In my state I can only watch 2 kids, so if I took these two girls, I'd drop the 6 month old.  The mom is a friend and I told her this was a possibility, since watching her son doesn't give us much income.  She already has a backup.

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Re: XP: Need help coming up with rates for my in-home daycare

  • First off, if you can swing the small fee, I'd post and reply to ads on care.com.  I posted our nanny position and got 40 applicants in 2/3 weeks.

    We are paying out new nanny $11.50/hr for the two girls, and $12/hr once DS is born.  Granted she comes to our house so I would expect in-home daycare to be a little cheaper but this should give you some gauge.  I don't think $1,300 is unreasonable for in-home care of 2 kids.

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  • A lot of under the table home day cares in Raleigh charge $150/200ish a week. Its not much money, but a quick search on CL can find a lot in that range. 

    When I was working full-time, DS was in 2 separate homes for care. The first I paid $200/week, and the 2nd place was $40/day. 

    Basically I think that since you have kids, will be watching others in your home, are not regulated etc - you can't expect much. $40/50 a day per kid sounds fair. 

    image Caleb is 3! 101 in 1001
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  • I should add that I don't do this "under the table."  I keep track of and report all of my income on taxes.  That way, parents can claim the costs on their own taxes.  Does this make a difference in what I can charge?  Is this why there are so many people on CL who only charge $100-150 a week?  Do you think they aren't reporting the income?
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  • imageNewFamily09:
    I should add that I don't do this "under the table."  I keep track of and report all of my income on taxes.  That way, parents can claim the costs on their own taxes.  Does this make a difference in what I can charge?  Is this why there are so many people on CL who only charge $100-150 a week?  Do you think they aren't reporting the income?

    Absolutely, most people don't claim the income and then the parents cannot receive any tax benefits. I'm not familiar with how this would change their taxes, but its definitely something you should point out to the parent as a benefit to you being their childcare provider. 

    image Caleb is 3! 101 in 1001
  • I pay $350 a week for 2 kids in an in-home daycare in Cary, and I think I'm getting a deal.  My provider is licensed by the state and provides all food, diapers, etc. 

    HTH!

    DS, June 2, 2008, 8 pounds, 4 ounces, 21 inches DD, May 21, 2011, 9 pounds, 21 inches
  • I dont think that is too much at all!  I watched a little girl (3 yrs old) for a year and was paid $200 a week.  She was also in pre-school 4 days a week; so I had her about 4 hrs 4 days a week and then all day the 5th day but I was paid cash and me nor the parents claimed anything.
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  • Where we live nannies make $10-15/hr depending on the number of kids
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  • I use a 5 star in-home daycare outside of Clayton, and I pay $220 total per week for Wesley and Liam. My provider charges $135 per week for infants under 13 months and $125 for 2 yr olds right now, but since I have two kids there, she gave me a lower rate.




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