newbie needing advice!

[daniellemummy]

Hello everyone

I was wondering if some of you more experienced minders could give some advice!! I'm newly reged and am thinking that these will be my fee details

Work on an hourly rate

Payment 4 weeks in advance

Deposit of 4 weeks fees (refundable against last month if necessary)

including drinks / playgroups / outings / food

for children who do not need care during hols - half rate of contracted hours

child off / holiday on contracted day - full fee

me sick / holiday - no fee

minimum charge of 4 hours a day per child
Does this sound okay to everyone?

any advice would be much apreciated! am rubbish when it comes to finances I must admit!

xxx

[huggableshelly]

sounds like you have everything covered

personally i do not charge for school hols as i fill them with holiday only mindees but others do charge so might be worth you checking what cm's do that are local to you

[Tatjana]

Sounds good!

The only thing I would say is it might be too much to ask for 4 weeks deposit and 4 weeks in advance, it's alot to pay in one go.

xx

[tashaleee]

I think 4 weeks deposit and 4 weeks in advance would be a lot of money for a parent to find if they were returning to work after mat leave or a single parent.... Also, would you consider being paid weekly instead of monthly as I know I often have parents who prefer this

With regard to not having a child in the holidays I have often filled those with school aged children instead

The only other thing I can add is that have you considered your plans for Christmas? If you plan to take Christmas as your holiday would you be happy to have no income over this timeframe? If you have this system parents will often not take it as holiday as they would need to pay you full fee, but if you take it as holiday they wouldnt pay (and a lot of parents do take Christmas as holiday if they have pre-school kids and work allows them to)

HTH

[ZoeAlli]

Sounds ok. Would agree with tatjana and tashaleee that a 4 week deposit and 4 weeks in advance may be a little much to ask all at once.
I charge half fee for my holidays and nothing when I am sick.

[claireLouise]

Hi, I charge full fees for all holidays that parents take unless they take the same dates as my holidays then these days are free.

My parents would not accept a minimum of 4 hours charge - before and after school is only 3 hours so this is a lot of extra money for no service. I only charge if I am providing a service.

I only charge a retainer if there is a delay in the child starting and this is non refundable. I agree a month in advance and a deposit is steep and I would imagine you may price yourself out of the market, I don't know anyone who has this policy.

I hope this helps.

Claire

[Blaze]

I charge 4 weeks fees as a deposit (refunded/used as notice pay when given 4 weeks notice) & 4 in advance ...it's what the NCMA recommend & no different from what the daycare/nursaries around here ask for!
HTH:)

[Chatterbox Childcare]

[QUOTE=daniellemummy;474648]Hello everyone

I was wondering if some of you more experienced minders could give some advice!! I'm newly reged and am thinking that these will be my fee details

Work on an hourly rate

I do session rates - an all day rate, half day in the morning, school hours, after school etc. found that I can get £14 after school but an hourly rate from 3.20 - 6pm would not get me anywhere near this and parents could collect at 4pm and it wasn't worth it

Payment 4 weeks in advance

I agree with this - invoice/email about the 20th for cleared payment on the 1st

Deposit of 4 weeks fees (refundable against last month if necessary)

I take a non refundable deposit which if they change their mind is what is says and I keep it but if they start I take the full amount of their first months invoice.

including drinks / playgroups / outings / food

I add on food - when you work it out it is costly and if you only have a child 1 hour after school you have worked for nothing

for children who do not need care during hols - half rate of contracted hours

over time I have built up my business and I do not charge anything for the school holidays as the gaps are filled BUT if it is an under 5 space vacant a lot of childminders are charging half fee retainer now

child off / holiday on contracted day - full fee

agree me too

me sick / holiday - no fee

my sickness no fee but I get 2 weeks paid holiday each year

minimum charge of 4 hours a day per child
Does this sound okay to everyone?

I have a minimum of £20 per day rather than hours apart from after school children

any advice would be much apreciated! am rubbish when it comes to finances I must admit!

It is good that you have come up with a good basis plan to start off with. At the end of the day it is your business and you can do what you want but the way the climate is, money is tight and I couldn't come up with 8 weeks money (4 weeks in advance and 4 weeks deposit) so this may be a stumbling block for you.

I would ring around and see what other childminders in your area do. Maybe an Area Representative or Development Officer could help here.