Just starting out

[Randi]

Hi! I have been reading a lot of the threads on this site and some of the ideas and advice is great! I am planning on starting a small day home, I have a 15 month old daughter and I am a SAHM. I am only planning on taking two more children. My question is...what is the best way for payments? Do you require a deposit when taking on a new child? Do the parents pay the deposit/first month before the child starts or do you take payment at the end of the month? I used to watch my niece full time and I always let my sister pay me every two weeks.
Thanks

[Crayola kiddies]

I take a two week deposit which is apies to the last two weeks of already commenced care and I accept cash or EMT only and it is due Fridays before 5pm for the following two weeks.

[DisneyPrincess]

Payment every week before 5pm friday no other options and asked a 2 weeks deposit at contract signature before starting care, that basically covers the last 2 weeks but only with a month notice if termination of service.

[Play and Learn]

A two week, non-refundable deposit that becomes their first two weeks of care. Either one of us can term without notice during these two weeks.

Then for payment, I ask for payment on drop-off on the first day of care for the week. No pay, no stay. If they don't pay for that first day (say on the Monday) at drop-off, I refuse care. Then an additional $20/day for late fee fines. Never had to use it, but it makes sure that they pay on time!

[apples and bananas]

I take a 1 week deposit and apply it towards the first week of care. It's not the best option I'll admit, but it works for me and I have enough back up that if someone dashes on me I'm ok.

I also accept payment at the end of the week for that week. Must be recieved by pick up. Most parents pay me at drop off Friday

I think you need to design your business the way you see fit.

I don't suggest taking friends or relatives and I do suggest having some sort of policies or a contract done up. Too many of us start without and regret it later.

[Randi]

Thank you everyone. I don't plan on taking relatives anymore and I am in the process of designing a contract.