Setting Home Daycare Rates in Columbus, Ohio

Are you thinking about starting a home daycare in Columbus Ohio? Perhaps you're looking to make a career change or you're recently unemployed. Whatever the case, one of the biggest questions that's probably burning in your mind is how to set your rates. There are many things to consider when setting your daycare rates, however there are a few crucial things that top the list.

1. Your basement hourly rate.

The very first thing you want to consider when setting your home daycare rates is the least amount of money you will work for per hour. Once you determine that hourly rate, you can work backwards from there to determine how much you will charge per child. Of course, you also have to factor in the cost of food, extra utilities costs, craft materials, toys, cleaning supplies, and everything else in between. By starting with determining your basement hourly rate you avoid the mistake that many women make in the Columbus area of sending their rates too low.

2. How many children you are willing to accommodate?

If you have a small home or if you're only interested in caring for a few children at a time, then you want to set your rates higher than another home daycare. Do not be discouraged from doing this by thinking that parents do not want to pay more for childcare with you than another home daycare provider. The truth of the matter is that many parents will be delighted by the fact that you are only caring for a few children. They know that you will have more attention and time to give their child a higher standard of care and they are willing to pay for it. Keep in mind however, that it may take a little longer to fill your spaces if you set your rates a little higher, but it will definitely pay off in the long run.

3. Your location.

The amount of money you're able to charge for your services will greatly depend on where you are located. Yes, no matter where you are you can charge whatever you want for your services. However, if your home is near a large employer such as a hospital or university or if your home is located in a suburb, then you will have an easier time filling your spots quickly at higher rates. If you live near any of the following locations then you should seriously consider charging higher rates:

Columbus Children's Hospital: One of the largest employers in Central Ohio with more than 5,000 employees.

The Ohio State University: One of top three largest universities in the country. Their child care center almost always has a wait list and is very expensive.

Easton Towne Center: A busy business center with a corporate mall full of companies and employees with higher than average salaries.

Polaris: Near Powell, Ohio, it's one of the fastest growing communities in Central Ohio with some of the largest and most expensive homes in the area.

Being located near any of the above places will allow you to charge a premium for your services. This is due to the fact that you will be located near the workplaces of thousands of people were in neighborhoods where people tend to spend more money on childcare.