Yup perfectly reasonable ... how many business do not have COL increases on their services or products at least annually?

My contracts state that fees will be reviewed annually and subject to change with 60 days written notice and resigning of a new contract.

That said I have tended to raise my rates 'alternate' years since I opened ... which works out to about a 2% increase per year which is WAY BELOW provincial average of COL increases ... this is the first 'alternate' year that I am due to raise my rates however have decided to refrain because while I am mid range for my overall CITY I am already at the high end for my neighborhood and I am not sure that with the current economy factors the market could bare an increase to me ... all this talk in the media about a possible recession has people getting more frugal which means that they are choosing daycare on the must haves of 'safe and fed' and not willing to invest that extra in the 'nice to haves' of 'has a program that covers all areas of developmental progress ... art, science, sensory, etc.'!