Another what to charge question, sorry

[ashwellgirl]

I'm in the process of becoming a childminder. I live in a village with no other childminders to compare fees with but there is a day nursery who charge £4.60ph and an before/after school club which charges £4.50ph. So what should I charge per hour?
In neighbouring towns childminders are charging more than this but I don't want to price myself out the market but also don't want to charge too little
Thanks in advance

[sarah707]

It is important to be sustainable - to stay competitive - not to undercut and lose friends - not over-charge and lose business...

There isn't an easy answer I'm afraid. Set a fee and see how it goes! :D

[ashwellgirl]

It is important to be sustainable - to stay competitive - not to undercut and lose friends - not over-charge and lose business...

There isn't an easy answer I'm afraid. Set a fee and see how it goes! :D

Thanks Sarah, that was a how long is a piece of string kind of question wasn't it lol?

[bunyip]

Also factor in your costs; the number of children you expect to have; and how much you consider it being worth working for on a per-hour basis. Remember you'll have a lot of unpaid hours (planning
, paperwork, etc.) and a lot of hours working below full capacity.

[Merlot]

£4.50 sounds fair. In my area people are charging between £3.75-£5.00 per hour. £4.50 is a reasonable price so I'd start with that. See how business goes and then you can decide once you're established if you're going to do a price increase.

[ashwellgirl]

£4.50 sounds fair. In my area people are charging between £3.75-£5.00 per hour. £4.50 is a reasonable price so I'd start with that. See how business goes and then you can decide once you're established if you're going to do a price increase.

Thank you, I was thinking that £4.50 would be fair but should I charge £4.60 for the under fives as that is what the day nursery charges for their under fives? I keep reading that you shouldn't undercut anyone else so as not to upset them and i'd be undercutting, albeit by only 10p per hour. Or would parents expect to pay less for a childminder, it's a bit of a minefield lol