Fees for a new childminder
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  1. #1
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    Default Fees for a new childminder

    Hello everyone,

    I am a new childminder and the whole fee business seems very confusing to me hahaha
    So I charge by the hour and want to find out what to do if
    - a parent only wants term time care
    - a parent wants all year around care

    I thought of this, 5 pounds per hour for all year around but do I charge differently for term time only?
    I thought if someone has a term time only contract and wants to have an odd holiday care I would charge 5.50?
    How does everyone else do this?

    Thank you all!
    Sabine

  2. #2
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    Hi I think you charge what suits your business. If someone only wants term time I then don't charge for any school holidays and if they want any ad hoc days in the holidays I still charge my normal hourly fee, but they may not be lucky to get a space so that's the chance they take. The only time my fees change is for unsocial hours e.g. before 8.00 am or after 6-00 pm as I don't really want to work such a long day so I double my fee for those times and yes I am still working a really long day but I do get a bonus. I know some childminders charge especially for the long summer holidays but they have to keep that child's place free, but I also have holiday only children so it works for me to not do that.

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  4. #3
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    I charge by the hour, and have an 'all year round fee' and a 'termtime only' fee.

    my term time only fee is my 'all year round fee' plus half fees for holidays, added together, and then divided back into terms! ...

    So ... for example .... hourly fee is £4.00/hr ... half fee is £2/hr

    £4 x 39 weeks of the year ( termtime ) = £156
    £2 x 13 weeks of the year ( holidays ) = £26

    TOTAL = £182 ... DIVIDED by 39 = £4.666666 .... so make your term time only fee £4.67 or round up to £4.70!

    I find parents like 'not' having to pay a fee for the holidays & i'm not losing out as getting half fees for those children. that said, i don't have many term time only children, and the only holiday only children I have are minded children who have grown older, and because I like having them, I am a soft touch and only charge them my 'normal' fee! if my 'term time only' children want a day in the holidays, then i charge for that day at their 'term time only' rate IF i have space.

    I have some children who come for a morning, some who come for school hours, and some who come for whole days. As Chris said, you have to do what works for you. I also charge double fees for 'unsocial' hours,. mine are before 7.30 in the morning and after 6.30 at night. I'm lucky, and generally, currently, only work 8-5/5.30ish, but if a parent needed me to, and i could, then i would ( and have ) worked earlier and later. When I first started minding, I had a 9/10 yr old until 8pm a couple of nights a week. I felt guilty charging her mum, as she was SOOOO helpful and loved to tidy and sort the toys when everyone else had gone home, and would help bath my DS, and read him stories, and was in 7th heaven if she was allowed to put him to bed! Mum loved it though, as she was an only child and it was just them at home, so she got to 'experience' a busy family life and 'babies'! It was a sad time for all of us, when they moved away for mums job.


    I also make sure I charge and am paid in advance for hours due to be worked ... I then 'refund' or charge for extra hours on the following months invoice. This means that if child is ill/doesn't come, then I still get paid!

    Good luck xxx

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  6. #4
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    Do you really want to offer term-time only? Can you manage with the reduced annual income? Will you try to fill their space during the holidays?
    I would not offer TTO myself. I want to max my annual income and I want to work all year round. I know some people like to have a quiet summer, though. How will a little one manage with a 6 week gap in care (or even longer if parents work at private school)- you could end up having to re-settle them all over again come Sept (some CMers insist on a few holiday days of care to try to avoid this problem).
    So, before you think about fees, you need to decide what you really want to offer and what will suit you, your mindees, your business and your family.
    Some charge a higher hourly fee for TTO and nothing in the hols, to help cover the loss in the hols.
    If you ever do TTO be very careful to agree term dates on the contract and decide what happens on inset days. I have seen all kinds of misunderstanding over these two things. Private school term dates can vary enormously. State schools and pre-schools can have different term dates and parents often 'assume' you know everything!

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  8. #5
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    Yes I agree - specify your term dates and make sure parent knows that all those dates must be paid for (check local school websites and see how they fit in with each other)
    I had term time only as wanted the holidays off but I'm quite flexible for those that needed holiday care to book in and getting older kids for holiday care so ended up working some days for less money but on the plus side I would drop days and not feel guilty. at the moment I have a mix of term time only and all year through. For those that are tto but use me in the holidays they get a great deal as if they need me Im normally working and if they don't they don't need to pay due to their contract! At the moment I'm working 3 days a week in the holidays so it's a compromise and I do get some quality time with my own 2 children.
    Sometimes it's trial and error but it's hard to change a contract once in place if it works for the parent and not you even if you've specified you'll review it after 3 months. Make sure the money adds up to support you and go from there.

 

 

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