Originally Posted by HappyEverAfter:
I didn’t increase rates this year but they will go up next year. When I opened this past year, I researched rates in the area and placed myself at the top right off the bat. I went $5 week cheaper than one other person but about $20 higher a week than the average. It was risky since I was just starting out but I knew how much I would feel comfortable charging for the amount of work I was committing to. I haven’t had a single issue with parents feeling my rates are too high. I even have one DCG whose mom took a second part time job in order to afford to bring her daughter to me because she felt so good about the environment I was providing.
I plan to raise rates annually in January each year starting next year. Most likely by 3%-5%.
If you want to raise your rates now, I’d do it a little at a time so that it’s gradual but make parents aware of when to expect the increases.
Thank you so much for responding! Im sending out increase letters friday!