Rate Increase
 

Hi all! So I am looking at my 2 year anniversary of opening soon and have been considering a small rate increase for all families. I feel like most people get a small increase in wages every year (or so) and so it is fair that I do too. I don't want it to be a huge increase, but I feel like if I increase incrementally every year or two, it will make a difference in the long run. Any advice on how to go about this? I am also working on updating my handbook, so maybe I should include this as an annual increase? Thoughts? Or maybe I'm being crazy and should just thank the gods for being mostly full and keep going on...

I have a small increase annually. It's noted in my contract "Rates will increase each year in Xxxxxx."
Parents generally accept it (two exceptions in 30 years but I already knew they were jerks :) )
Frankly, some years it does not increase my personal income because
a. Prices go up
b. I find new things I want to add in & it always costs something

But it's always nice to have a little more to work with.

Check out this post my Tom Copeland
http://tomcopelandblog.com/how-to-raise-your-rates-2

more threads on Rate Increases: https://www.daycare.com/forum/tags.p...=rate+increase

You know this is something that I think all providers struggle with. I am actually considering something that Tom Copeland wrote a post about some time ago where he suggested an annual percentage increase that is almost automatic. In fact, I think he suggested putting that right in the contract.

Whatever you decide, you are right it probably would be a good to make note of it in your handbook as well.