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  #1  
Old 02-29-2012, 05:39 AM
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Default Would You Terminate For...

My full time monthly fee for one child is $650.00. My dual monthly fee is $950.00. I lose $350.00/month when I take on two full time children at my dual monthly fee.

My question is if opportunity arose for you to fill those 2 spaces with two regular paying clients would you terminate the dual family space to up your monthly income. Would you give the dual family the option of paying full price to keep their space?

This is also a teacher family so I lose 2 months worth of income over the summer on top of the $350/month for the 2 spaces.
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Old 02-29-2012, 05:55 AM
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What is a dual monthly fee?
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Old 02-29-2012, 06:02 AM
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Are you talking about a sibling discount? Whatever the discount is for, it is WAY to much. I would recommend 5 or 10% for sibling if anything.
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Old 02-29-2012, 06:04 AM
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Of course I would terminate. I would never give that kind of discount.
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Old 02-29-2012, 06:10 AM
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Quote:
Originally Posted by laundrymom View Post
What is a dual monthly fee?
It's $950/month compared to my regular monthly fee of $650/month.
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Old 02-29-2012, 06:31 AM
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I can't answer if I would terminate but I will give this idea to you. How about no discount for siblings? I dont have a discount because if I were to have siblings they would be here the same amount, using the same amount of things, needing the same care, etc. Maybe start letting your paretns know that you will be changing it effective-what ever.
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Old 02-29-2012, 06:31 AM
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Is that for siblings?

I would never, ever discount like that. Way too much!
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Old 02-29-2012, 06:35 AM
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I ALWAYS choose the option that nets me more money. This is my business and how I pay my bills.

I would, of course, give the family I currently have enrolled the option of going to the higher rate and losing the discount in the summer months as well.

But I will always do what is best for my family first and foremost.

FWIW~ I would fully expect families to do the same.
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Old 02-29-2012, 06:36 AM
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So you charge $650 a month for one child, but siblings is $950 for both kids? That is WAY too much of a discount!
I offer a 10% discount for siblings, and that is it!

In your case, I would charge $650 for the first child, and then $585 a month for the sibling. Total for both is $1235.

Your discount is almost $350 per month! That's a car payment.

I would change your fees, give your current family the option to pay the new fees, or they can terminate, and you can take on the new family. Also remember money isnt everything. If your current family is working out, I would work with them on slowly increasing the new fees. You may terminate and then not like the new family you take on.
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Old 02-29-2012, 06:36 AM
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You are the business owner and can do whatever you like. If we are talking strictly business and money, I would always go with the higher income, since we are in this business to make money. For me I dont offer a sibling discount or lower rate for 2. In my eye, a slot taken is a slot taken. Also it creates more problems with multiple family members when they leave. 2 open spots.

For me personally, I think it may be a little unethical to get someone in the door offering a super low rate for 2 kids and then term them for single children or raise the rate so much. It just doesnt really sit right. But that is me, if you feel right with it go ahead.

$350 is a huge difference, how/why did you come up with that number?

If you feel really strongly about it, maybe you could tell her that you are no longer going to offer a sibling discount and each slot is _______ per month. If thats not something she can do, you understand, but that you will be interviewing to fill the slots at the new rate.
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Old 02-29-2012, 06:38 AM
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I would be up front with them and let them know that you can no longer afford to offer such a steep dual discount, and that as of xx/xx/xx, you will no longer be able to offer care at that amount.

Such a big discount AND losing summer income from them being teachers? You have to look out for yourself first, you are short-changing yourself waaaaaay too much.
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  #12  
Old 02-29-2012, 06:52 AM
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Thanks everyone! In my area that's what the average for dual families is per month, haven't quite made it to the point of no discount yet. I will not take any more families on at this discounted rate.
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Old 02-29-2012, 12:13 PM
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I can only watch 6 children so I do not give a discount for siblings. They are just as much time, just as much work, etc. as any 2 non-siblings.
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  #14  
Old 02-29-2012, 01:08 PM
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I only give $10.00/week discount for siblings here.
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  #15  
Old 02-29-2012, 01:26 PM
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I wouldn't let the first family go. You gave them the deal of the century which isn't their fault.

I would tell them that starting May 1st, your policy will change regarding your sibling discount. I would give them 10% off of both children which would make their monthly tuition $1,179.00. Two months will give them time to adjust their budget.
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