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Old 06-22-2012, 05:52 AM
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Default Raising Rates

I've had the same rate since I started doing home daycare in June of 2009. I've been contemplating raising it this January. How much do you raise your rates and how often?
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Old 06-22-2012, 06:03 AM
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My contract stated that contracts are run through Aug 1 -July 31. I hand out updated contracts in July and at that time the rates may go up. Normally I would raise them by $5/week/child.
One year, I did not raise the rates. What I did, was instead of giving the parents 2 weeks free vacation, I changed it to 1/2 reg rate due for the 1st vacation week and reg rate for any additional vacation.
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Old 06-22-2012, 06:10 AM
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I raise (or lower) rates as needed and hand out a new contract for all parents to sign if there is a change. I prefer to hand out in Aug. because that is when my daycare "year" begins. I wouldnt raise more than $10 a week though unless you are grossly undercharging right now. Thats $40 a month for the families and once you hit $50 and above, people start considering finding cheaper care.
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Old 06-22-2012, 06:33 AM
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If you haven't done an increase since you started in 2009, then I would for sure look at raising your rates. I do agree though, don't take them up more than $10.00 a week, it could shock them into finding a new provider.

I'm raising mine for the first time in August of this year. The main reason for my rate increase though is that it's going along with licensing. I'll be handing out new contracts in mid-July for parents to review, and from here out my 'year' will be from August 1, 2012-August 1, 2013 and so on. I may or may not increase my rates next year, I think it will really depend on how my area is doing.
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