I've been doing this for about two years now. I haven't raised rates but I have added in pay for stat holidays (last year). How often do you raise your rates? And by how much?
I don't want to be unrealistic about the rate of 'inflation'.
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I've been doing this for about two years now. I haven't raised rates but I have added in pay for stat holidays (last year). How often do you raise your rates? And by how much?
I don't want to be unrealistic about the rate of 'inflation'.
I raise my rates for new families starting care. I have a policy of not raising rates for any family that stays in care. I only do 0-3 care so I generally have at least one turnover each year. My rates go up by $1-2 usually but I do use the fee survey my childcare association puts out each year and also check out the ads on daycarebear for those near me to see what the "going" rates are.
I raised my full-time monthly fee after about a year and a half.
I did not change my p/t daily fee, though, and since that is all I have right now, I didn't have to "notify" anyone. If I had, I would give a MINIMUM of 30 days written notice, and probably more like 60-90 days.
I just checked around as to what the "going" rate for my area was. I increased it by $50 yearly.
Ok, then I'm doing just fine. I'll raise it next year I guess. I'm right in the middle around here an I know I make a lot more than a lot of people can charge.
I started in 2007 and raised my rates 4% in 2009.
However I created two fee plans in 2009 ... one where clients paid the direct fee increase each week and another where they kept their 2007 fees but paid for my 2 weeks vacation (aka 4% vacation pay)
I raised my fees 4% again in 2011 with the same options of a direct fee increase weekly or keeping 2007 rates bit I added in 10 additional paid days or a total of 8% in vacation/personal time to be taken over the year...also added an amendment to that contract that if you 'withdrew' from care with vacation/personal time still being owed it would be subtracted from your security deposit - cause I had a family who agreed to the lower plan and than gave notice to be done the Friday before my vacation started and I did not feel I could 'charge' them for the vacation time cause i had not made that CLEAR :no:
So on average I have raised my fees 2% a year which is less than the rate of 'inflation' that everything else seems to be going up ... in my city I am in the 'midge range' of feeds ... so still below what 'others' are able to charge in their location however on the 'higher' end in my own location which has a higher population of lower economical income earners as well as many 'illegal' daycares with people working under the table and warehousing more children than 'legal' for Ontario :(
I gave myself Easter Monday and Christmas Eve Day 2 years ago and didn't change anything at all this year. So next year at contract renewals I'm raising my rates $2/day and I've already informed all 5 of my clients that it will happen and let them know that it is simply to keep up with rising food costs. You can use that line too, feel free! It's certainly not a lie!Quote:
Originally Posted by FlexFunCare