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DCS
15-05-2008, 09:24 AM
Hello all,
I'm wondering, HOW do you all arrive at your fees& charges? I used the tried and tested business formula, overheads + desired profit margin = fees (I hope I wrote that right!) For some of my charges, I applied simple supply and demand. Also, I very aware of how many spaces/hours I need to fill just to break even. Also when business is slow, do you rely on other enterprising activities or do you seek employment ?

thanking you in advance
Cecile
x

Blaze
15-05-2008, 09:29 AM
I had a look at what others in my area charged & what they provided for that fee...set my prices accordingly...I single handely(sp) raised my areas prices by over £1 in under 6 months...& as I offer more ...when there is a demand (it goes in fits & starts) I normally have my pick of clients.:)

berkschick
15-05-2008, 09:29 AM
I asked around other childminders what they charged and took it from there.

Most charge £3.75 and include all meals so I decided on £3.50 with meals being extra as I wanted to give parents the choice and also didnt want to provide tea if I could help it!

I havent had a quiet time yet touch wood so not too sure what I would do to cover the income. But then I am earning nearly 4 times more than I was before I took childminding on so hopefully I wont find myself in that situation.

If I did, I would get hubby a nice little evening job :laughing: :laughing:

sarah707
15-05-2008, 09:54 AM
I look at other minders on the CIS website and factor in what before and after school clubs charge...

I also look at what the parents can afford and if they are getting help via tax credits as that makes a difference.

If parents don't use me I ring them and ask for feedback - it's never been cost, usually a family member offering, or they were just fishing, or they decided on nursery because they are too important to have a day off if I'm on holiday or ill and want 52 weeks a year care... one was in the process of registering and wanted to see what happened when parents visited - cheeky thing!!

I save as I earn and always try and have a couple of months money put by - my roof money I call it, but it's there if there's a slow patch as well.

Hope this helps :D

ChocolateChip
17-05-2008, 10:50 PM
I did a similar thing to Sarah, looked at the local rates, then I pitched myself a little bit lower because of being new and wanting to attract customers.
I am still actively looking for new customers,mainly to cover the holidays as 2 of mine are TTO, but also to fill a couple of gaps in the week.
Had an enquiry the other day which would have fitted in perfectly, but I am on holiday when they wanted to start, so don't suppose I'll get that one!:(

In the meantime I'll just carry on putting little ads in the school newsletters, post office, etc, and see what happens. I only started in Feb, so haven't put my prices up yet, but probably will next April.

manjay
18-05-2008, 07:36 AM
I set mine at the same rate as the other two minders in our village. they are both always full and I am as full as I want to be. No point charging very different rates to them imo. Neither of them provide meals but I do at an extra cost. I would have found it really difficult to work out overheads before starting tbh so that method would not have worked for me. I had no idea how much food, cleaning materials, resources, utilities etc until I had actually worked with the children in my house

amanda xx