Pricing

[notts]

I plan to charge in half/day rates. A recent lead came to me and another minder. I quoted based on 3 half days - my holidays and charging a 50% retainer for term time. Yet the other minder charged hourly, nothing for term time yet comes out more expensive. I don't know her hourly rate. My half day is £17.50 but it set me off thinking day rates or hourly? and i just thought I put out there to see what you guys do and any advice on why or why not! thanks :)

[Smiley]

I have been charging hourly for many years. I also charge retainers for term time only contracts.
A long time ago I charged daily but with some children I was working longer hours yet parents still paid the same.

[sarahjane]

I charge hourly but a minimum of 5 hours per day:)

[rickysmiths]

I have always charged an hourly rate with no min hours because it is my choice whether I take a child or not. I have always felt this is fairer than charging a day rate which my include hours a parent may not need.

[mama2three]

I attempt to 'tailor make' a package to suit individual families. at the moment all of mine do at least 10 hour days and so an all inclusive daily rate works well for them - and is much easier for me regarding invoicing etc.
If I had enquiries from different families with different needs then an hourly rate may be better.
I dont feel the need to have 'one price' - after all each family has different needs - hours , meals , nappies etc.

Downsides of offering a daily rate - some see you are open between say 7 and 6 and so rarely pick up before as they have 'paid' for the time. On hourly rate you would contract them for the exact hours they need.

[Little Pickles]

I charge everyone by the hour . I often wonder about charging for minimum hours but as I ( touch wood ) am full and have a waiting list this obviously works well for the people around here. You live and learn in this job and every area and individual childminder does things differently so if you are happy and you have enough work than I would say that there is no need to change. Some newly registered childminders in this area are charging over £1 an hour more than a lady I know who has been doing this for over 30 years and has been graded as outstanding twice ! I would love to know if they are full !! :)

[notts]

thanks guys, very useful, I will take all on board, as you say, live and learn in the job, I'm only starting so I guess things will adapt as I go on. Thanks so much x

[miffy]

Downsides of offering a daily rate - some see you are open between say 7 and 6 and so rarely pick up before as they have 'paid' for the time. On hourly rate you would contract them for the exact hours they need.

This is very true - some parents will use whatever they feel they've paid for whether they need it or not.

Miffy xx

[jumping j]

I charge an hourly rate with a minimum of 3 hours, I have a couple of shift workers and this is what made them decide to come to me, I don't charge for hours they don't use, and a daily rate for over 8 hours.
It's worked well for me and I've been lucky enough to have a mixture of part time families who have fit in around the shift work.