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Discussion Starter #1
As many know, I "supplement" our income doing home daycare.

When I started this 11 years ago, I earned under $5000/year. 7 years ago, it was the same. 3 years ago it increased to $7000. And if things continue as they are, 2009 will be 30000. YES, 30,000!! Over the last 2 years I've done some changes. In 2 years, I have teh potential income 42000+. How's that for a raise?

I know some people would thing that this is expensive for "babysitting", but this is SO much more than this. But in my area I'm mid range. I'm actually surprised at how some people charge so much less, but from what I hear from people visiting my home, you get what you pay for.

First, this last year I worked 60 hour weeks+. This year it's looking like 9 hour days! YAY! I get no lunch breaks, no coffee breaks, and if I am sick or go on holidays, there is no program to compensate me, I have no benefits.

But I have come to love what I do. In the last 11 years, there have been only 2 kids I didn't enjoy having. But there have been many parents that I could kick to the curb.

When I started out, I was younger, and taken advantage of. I was working 55-65 hour weeks and earning very very little, $500/mo. I was exhausted, had no predictable income as the parents were dictating what they were paying me. I felt used and unappreciated. I quit. I shut down completely.

After 4 mo it became obvious that we needed that $500/mo to make it.

So we decided to reopen. But this time, I approached it very very differently. I sat down and wrote out my policies, made up contracts, looked at what we *needed* to earn, and added a little extra to cover changes in the economy, in 2 years, I'll likely have another price increase to adjust to the economy again. I advertised, created a website. That year I earned $1000-1200/mo. That was sooo nice. I had parents who appreciated what I did. I was acknowledged at Christmas, Easter, I received cards just because. It was fantastic. I had been with an agency at the time. But they were being a hindrance, cashing parents checks early, not returning calls, not providing the services I was paying for. SO, I decided to go out on my own. My families were thrilled. I decreased their rate alittle bit, but because I wasn't paying agency fees my income increased approx $300/mo.

That next year was a learning experience, I had to terminate a family for deciding they could pay late, whenever they wanted. Not cool. And another because the child seriously didn't fit in, major behavior issues that I couldn't manage. Because one of my kids became "of age" and no longer counted in my ratio, my income increased by 33% a month! Nice raise!

I don't like to increase my rates, but I adjust them as we have to. Somewhere in 2009, there'll be an increase again to reflect the price increases on EVERY single thing.

It's not ALL about money. I plan my days with the kids, we have alot of fun. But being paid a reasonable wage for my time, skill etc, makes it sooo much better!

I intend to continue on for at least 7 more years!!
 

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Wow!!! That's great. Sounds like your doing a great job. Keep up the hard work. I don't have any kids this summer, it's a nice break but I do miss it.
 

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:applause:

Kudos!! your job is soooooo important. Parents feel better paying more for someone.
If a sitter charged so little - I'd REALLY question the level of care.

Honestly, charging more for your service IS the way to go.
1) weed out the riff raff - the PITA's that you want to kick to the curb
2) it instills a greater feeling of professionalism that will bring your daycare to new heights
3) you'll get the parents who can afford it - generally white collar - educated - and with a sensible mindset.
4) you'll be less financially stress - and that will bring about a better daycare day for the little ones -> which makes mom and dad happy -> then the little ones happy -> then you're happy -> and your husband's happy.. and on and on.

See how that moves on and on. All because you decided to charge what you're worth.

Now.. if a nice single mother came along and needed a break because she's in school FT and has three small babies and can't afford your rate.. please think about helping her out. I really appreciated that help when I was a single mom - with three small babies. nuff said. K?

I am happy for you.
 

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Discussion Starter #4
Frugal Nurse, I have done that already. Unfortunately this lady took advantage so I don't know that I would do it again, unfortunately.

I've decided to take things to the next step. I'm gathering info, I love all things Waldorf, I love the earthiness, the natural, and will be transitioning to such, this also adds specialty to the daycare, and can allow for more growth for myself. I've very excited!
 
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Wow your doing great! One good thing about doing this on your own is you have a choice of who's enters your daycare and who doesnt, you get to weed out the bad ones, late payers, etc...

I dont know how you do it, I mean when all my kids were young and the fighting/arguing began I couldnt take it! It drove me nuts so I envy you.
 

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Discussion Starter #6
Tracy, there ARE the days i wonder why. But I am choosy as to who enters, how they behave, how I feel about the parents, how "needy" a child is. The families I like to have, are the families that think a child becoming independant is important, not on their hip 24/7. That aren't afraid that their kids get dirty when they play. I am an attachment parent, so I don't have any hesitation about that, but I do feel a parent needs to allow a child some space to be who they are going to be. So a child that NEEDS to be held the whole time, doesn' twork. Don't misunderstand, I love getting/giving snuggles and cuddles from the kids, but not pack them around all the time. It's not fair to any of the kids. I've had good parents and bad, naughty kids, needy kids, awesome kids. So I have learned what to watch for. It makes a world of difference.
 

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WOW! That's a great pay raise!!! You are doing really good for yourself. I applaud you!
 

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Congratulations on the raise, that is awesome!!!!!

I babysit 2 little girls right now and only charge $20/day for both of them. Their mom is a friend and also a single mother going to school. We could use extra money of course but there is no way she can afford anymore right now and I would rather make a little less and keep the kids safe so mom can focus on her schooling and not have to worry about the girls. But I understand your reluctance because there are alot of people out there that will take advantage if you let them, I'e had that happen too.
 

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:wow: that's awesome

How many children do you watch daily?
 

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i just wanted to give you a huge high five!!!
 

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That is great! I also have a family daycare in my home tht I do now instead of working outside of the home. I have 6 kids at all times. Monday thru friday. It's a great business if your willing to do it. That is wonderful about the 9 hour days. Mine are at 11.5 hours but it's ok for now. I will be loosing a little boy at the end of this month and he is the reason I am open so early and so late. Do you ever go on daycare.com I have learned so uch from tat site on what to do to set yourself upfor success. I learned the hard way about pre-payments being a must if you like getting paid. lol! That is great news!!!!!
 

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Discussion Starter #12
Hey, here we are 4 years later, and due to family changes, I'm looking at closing. I'm now homeschooling and I.am.burnt.out.

I found out, I couldn't do what I'd hope to with the daycare, at least no legally, and I'm not into fines at all, so I kinda peaked and am burning out now.

I am still earning a decent income, but I can't do what I wanted to do with it, so it's just not going to continue. I am not loving it any more. Time for a change.
 

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Hey, here we are 4 years later, and due to family changes, I'm looking at closing. I'm now homeschooling and I.am.burnt.out.

I found out, I couldn't do what I'd hope to with the daycare, at least no legally, and I'm not into fines at all, so I kinda peaked and am burning out now.

I am still earning a decent income, but I can't do what I wanted to do with it, so it's just not going to continue. I am not loving it any more. Time for a change.
Just noticed that the first part was an OLD post..............sorry about the burn out but hope you find something else.
 

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You definately deserve credit for opening your own business and running it for so long!!! Also you are wise to shutdown if it is not something you can do anymore. Hopefully you can find something else to do. Luckily you already have the skills if you want to be self enterprising again. Maybe you could use a little vacation to help rejuventae. Heck you definately deserve it.
 

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I think that is great that you are having so much success with a daycare! I graduated with my Masters degree in August and have been working as a part-time psychology instructor at the community college. It is a great job-except for the pay and the no benefits! I am starting a second job on Wednesday as a waitress at Olive Garden. I do not feel that the job is "beneath me" as some have suggested (my loved ones) I was raised that there is nothing demeaning about doing a job to feed your family. I keep going through this horrendous cycle-I pay down debt and feel I am making progress and then I have to rack up debt again to buy groceries or fix the car-etc. Getting a second job is not to supplement it is to survive. I have $118,000 in student loans, and that is just the tip of the iceberg of debt. I am anxious to get started so I can pay down debt and also to save money and build an emergency fund. The daycare story is inspirational! Good luck and continuing success!
 

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Discussion Starter #16
I think that is great that you are having so much success with a daycare! I graduated with my Masters degree in August and have been working as a part-time psychology instructor at the community college. It is a great job-except for the pay and the no benefits! I am starting a second job on Wednesday as a waitress at Olive Garden. I do not feel that the job is "beneath me" as some have suggested (my loved ones) I was raised that there is nothing demeaning about doing a job to feed your family. I keep going through this horrendous cycle-I pay down debt and feel I am making progress and then I have to rack up debt again to buy groceries or fix the car-etc. Getting a second job is not to supplement it is to survive. I have $118,000 in student loans, and that is just the tip of the iceberg of debt. I am anxious to get started so I can pay down debt and also to save money and build an emergency fund. The daycare story is inspirational! Good luck and continuing success!
I totally understand. Dh hasn't had a raise in 4 years, or more. Costs keep going up and up and up! I can't quit now, I don't have any options other than childcare that I can do from home until such time as the last one goes into the school system.

We are looking at tweaking it. I'll be down to 2 kids soon, as one family is leaving :( Love them. But we are looking at it as a possible time to change, perhaps to strictly before/after school care. This would allow freedom during the day for the homeschooling, without any distractions for her. If I can get 3 before/after school kids, we'll be fine. Now to get flyers out to the schools.
 

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I understand where you are at. It can be very stressful at times. My ultimate goal now is to be before and after school at my home and then open another group down the street and hire someone if I have too. Good luck to you!
 
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