Going rate for in home childcare?

[Anonymous]

I am a stay at home mom interested in opening my own daycare. I have a toddler and I am trained in Montessori education. Ideally I'd like to keep the ratio small. 3 to 1 or 4 to 1 ratio is what I am thinking. I've already met a few moms who are interested. Keep in mind that I am no longer in DC. I live in Jacksonville, Florida. I am also walking distance to lots of big companies. It would be so convenient for parents to drop off at my home if they work in this area.

[Anonymous]

You need to contact in homes in your area to find out the going rate. DC area market research won't be helpful as far as pricing.
Questions you have to answer:
How much money do you need to make? What kind of hours are you willing to work? Find out licensing requirements, consider whether or not you are willing to be dedicated to other people's children, and figure out what kind of money you will pull in. Do you really want to do this or are you trying to work at home to be with your own child? It's hard work. Not hugely profitable. High burnout rate. You have to be passionate. Then be awesome and charge top rate.

[Anonymous]

Anonymous wrote:You need to contact in homes in your area to find out the going rate. DC area market research won't be helpful as far as pricing.
Questions you have to answer:
How much money do you need to make? What kind of hours are you willing to work? Find out licensing requirements, consider whether or not you are willing to be dedicated to other people's children, and figure out what kind of money you will pull in. Do you really want to do this or are you trying to work at home to be with your own child? It's hard work. Not hugely profitable. High burnout rate. You have to be passionate. Then be awesome and charge top rate.

Op here: I do really want to do this! I was a preschool teacher and nanny before I became a mom.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You need to contact in homes in your area to find out the going rate. DC area market research won't be helpful as far as pricing.
Questions you have to answer:
How much money do you need to make? What kind of hours are you willing to work? Find out licensing requirements, consider whether or not you are willing to be dedicated to other people's children, and figure out what kind of money you will pull in. Do you really want to do this or are you trying to work at home to be with your own child? It's hard work. Not hugely profitable. High burnout rate. You have to be passionate. Then be awesome and charge top rate.

Op here: I do really want to do this! I was a preschool teacher and nanny before I became a mom.

That's great! I do home daycare. I love being a teacher to the little ones. That's the fun part. Running my own business can be challenging - it took me a while to get better at being professional. I'm still working on it
It's easy to find out how much other providers charge, their hours, policies, etc. DON'T set your rate low because you are "new." Set your rate on the high end - and offer a higher quality of care. In the DC area parents would fall over themselves for a Montessori based home daycare. Not sure about the Jacksonville market. You should be able to get an idea of what parents are looking for in child care.
Be clear about your policies. Be firm about your boundaries. I had some trusted friends scrutinize my first contract - this was extremely helpful. There is a lot of learn as you go in this business! I hope it works out well for you!

[Anonymous]

It is a great idea, OP. I agree with the previous poster who told you to go "high end" if you have a really good space for your daycare. Make sure to check out all the state certifications that you need and set aside a huge portion of your house and yard for the children. The initial supplies (cots/cribs, toys, high chairs, super childproofing, etc. ) are expensive but you need to make the part of your home you will be using for daycare to be very sweet, safe and attractive to the potential parents.


Good luck!

[Anonymous]

http://www.floridaearlylearning.com/sites/www/Uploads/files/Providers/Market%20Rate%20Documents/2015%20Market%20Rate%20Report%20Full%20Time%20-%20web%20vrs.pdf

[Anonymous]

You need to ask where you live because I guarantee no parents in Jacksonville are paying $350/week.