Thread: Raising Prices?
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Old 07-30-2010, 08:31 AM
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DCMomOf3 DCMomOf3 is offline
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Quote:
Originally Posted by professionalmom View Post
What about doing it in stages? Like an extra $5 per week for 3 months, than an additional $5 ($10 total) for the next 3 months, and so on until you complete the adjustment. You would need to type up a detailed notice to the parents explaining that you have never had an increase, that you are now realizing that you have not been getting the "fair market value" for your services, that with the rising prices of everything from milk to craft supplies and utilities to heat your home, you must take this action. Then explain that as a service to THEM and to ease the adjustment for THEM, it will be done in stages to allow for them to make the needed adjustments in their household budgets. Then give them a detailed schedule of the increases and how it affects THAT particular family's rates.

good luck!
I'm preparing to start the licensing process so I feel I will have justification for raising my rates when that is complete. I love my families and the kids are wonderful for the most part. I don't want stress them too much but also, it is my business and I don't want to stress my income too much either. I like the stages option, I think it would be easier to swallow for them and less guilt for me.

I also like your idea to justify how it will benefit each family. great idea.


Quote:
Originally Posted by Abigail
If you have not had families for a very long time, they might think you're going to have large increases often even though it might be your first one ever.
I have one newer family, I've had for about 5 months. It will be my first increase ever and I don't expect to raise my rates again for a long while. I may have a relaxed conversation about it and feel them out before I announce my intention.

Quote:
Originally Posted by Lilbutterflie View Post
I think $20/wk increase is too much. As a parent, I don't know if I could swallow that even if it was done in stages. I would increase your current families $10/wk, and start any new families with the full price that you want to charge.
That's my concern. I don't want to loose any of my current families. I have a great group right now. Is $10/wk off the bat too much, then raise another $10 for 2012? This being my first and only increase, I don't want to do it in a bad way.
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