Originally Posted by Jo123ABC:
How do you guys do raises? Do you get an annual percentage raise or do you just raise it however you feel every year or do you never do a rate raise? I've been in the business for 4 years and I've only raised it one time. I want to be competitive with other daycares in my area. I'm thinking about implementing a 2% annual raise like "normal people" usually get but that seems high even though it's not really.
I raise my rates by $5-$10 per week every year but only new kids coming in get the new rate. All other kids stay at their same rate the entire time they are enrolled. If they have a sibling start the sibling starts at whatever the rate is at that time.
That's my compromise for charging 52 weeks a year regardless of absences or closures.