INCREASING FEE'S

[son77]

How often do you put your fee's up and by what amount?

Is it ok to do this annually?

[lou]

i normally increase my fees once a yr but having said that, it depends because you have to be careful not to price yourself out of the market, and it obviously has to be reasonable.

its a difficult one, only you know the parents, and they are all different.

also depends how often you renew contracts?

[angeldelight]

Depends on yourself I guess and how much your fees are in the first place

I have not put mine up for years

I have given out a newsletter and said fees are due to go up in January 08 so all parents are prepared

No one has asked any questions yet - think they are hoping I forget ha

Not sure how much to put mine up by either
So it will be interesting to see what the others say

Angel xx

[lorraine2767]

That is really hard as I had two new children start a few months ago so I put my prices up for them, but I have a little boy who came on the old rate and nornally I would leave them at that rate until they leave but this time I don't think I am going to. I will wait until he has been with me 12 months and then approach the subject with his mum, but it is really hard one.

Lorraine xx

[susi513]

I don't have a set fee increase, I tend to review it frequently but not on bu any specific amounts or deadlines. I know some childminders who would raise by 10p an hour every April. Which means parents know exactly where they are but you can find yourself out of pocket as your expenses are likely to go up by differing amounts

I introduce the new rate to new parents first too. Then if the "older" parents fall too far behind I give them a current fee sheet and advise that this is what their fees will be when we next renew the contract.

So they have a long time to get used to the idea before they actually have to pay it. Sometimes i've put a note on the bottom of the contract "there will be a fee increase on [date]" although the date would never be before the contract renewal date. I always do a new contract for the new fee.

[buildingblocks]

I tend to do mine every other year in the April (just the way it has happened). I give my parents plenty of notice and always at least one month of any major changes fees or otherwise but in reality all the notice you have to give is what it states in your policies, etc, eg in my case 2 weeks notice for change of contract.

One thing i have found the ones who will complain tend toalways be the ones who have the most money or is that just me. Last time my fees went up one parent complined how could I do that to her as she had just moved house (yes to a house worth half a million pounds!!!!!)

love Kate

[susan]

buildingblocks said:

to a house worth half a million pounds!!!!!)

love Kate

lol thats how she can afford it Kate.... she's tight with the purse strings !

[buildingblocks]

Too true Susan that and hte fact she has known me years and expected big favours - i don't think so

lov eKate

[shirlwith3]

I too am putting up my fees from January as I will have been childminding a year by then but am not sure on how to word the letter.
I have put below what I have come up with so far, what do you all think?

Dear parents

I am letting you know that as from the 1st January 2008 I will be increasing my hourly rate from £2.90 to £3 per hour. The reason for this because I have been running my business for a year and feel it is time to increase my fees to keep up with other fellow child minders in the area

I hope you will support my decision on increasing my fees and continue using my services.

[fionamal]

All my parents are on different fees and started contracts at different times so will probably not increase any fees for the next year and then if they are still with me then will see whats what.

Im currently charging £4per hour all inclusive so think thats a pretty fair price for all meals, snacks and outings.