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Old 07-08-2013, 11:33 AM
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lflick lflick is offline
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Default Holding For Twins?

Hello,

I've seen a lot of posts about holding spots and have gathered a lot of different ideas. I am just not sure which one to implement in this case.

Expectant mom is due in November... looking for care in January.. for twin boys.... She found me as her husbands brothers two girls come here part time. I am just curious as how I could approach the holding fee subject, if they in fact decide this is the route they want to go. Obviously, the financial aspect for them will be an issue and I don't want to "scare" them away by sounding like this money hungry crazy person lol ... BUT... it is two spots... two infant spots ... my only ones so I am just not sure how to proceed.
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Old 07-08-2013, 12:27 PM
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Michael Michael is online now
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Here are some threads on Holding Spot Fees.

http://www.daycare.com/forum/tags.ph...ing+spot+-+fee
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Old 07-08-2013, 01:08 PM
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Thanks, I seen these but it seems like most were for one child and I am worried that I will "scare" them away by charging a hefty fee so am looking for ideas how to "cushion the blow" per say.... I was thinking of either charging them two weeks tuition up front to go towards their last week of care (and if they decide to go elsewhere then they forfeit it).... or charging say $100/month per child to hold their spots which will not be applied toward anything rather a plain and simple holding fee. I feel that the first one would be least likely to have them looking elsewhere as it goes towards tuition but on the other hand I will be holding two spots for a considerable length of time so I feel I should be compensated atleast something.... idk....
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Old 07-08-2013, 01:11 PM
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This may sound harsh, but it isn't your problem whether they have two children or not.
What IS your problem is the fact that two spots will need to be held. You will need to be compensated accordingly for that, just like you would if you were holding the spots for two children from two different families.

You will be holding their spots for a great length of time AND they may end up deciding to not use you at all in the end (perhaps Mom will become a SAHM). If they end up not using you, would you feel like you got the short end of the stick for only charging two weeks of tuition for two children to hold spots for 4+ months? Likely, 5+ months since Mom will have maternity leave. That is A LOT of lost income. For me, I would be out $5800 for reserving those two spots and only charging their last two weeks of tuition that will be applied to their account. I DO charge the final two weeks of tuition as a security deposit for my clients but will only hold that spot for 2 weeks after it is handed over.
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Old 07-08-2013, 01:30 PM
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Quote:
Originally Posted by EntropyControlSpecialist View Post
This may sound harsh, but it isn't your problem whether they have two children or not.
What IS your problem is the fact that two spots will need to be held. You will need to be compensated accordingly for that, just like you would if you were holding the spots for two children from two different families.

You will be holding their spots for a great length of time AND they may end up deciding to not use you at all in the end (perhaps Mom will become a SAHM). If they end up not using you, would you feel like you got the short end of the stick for only charging two weeks of tuition for two children to hold spots for 4+ months? Likely, 5+ months since Mom will have maternity leave. That is A LOT of lost income. For me, I would be out $5800 for reserving those two spots and only charging their last two weeks of tuition that will be applied to their account. I DO charge the final two weeks of tuition as a security deposit for my clients but will only hold that spot for 2 weeks after it is handed over.
TOTALLY agree with everything she said ^^^

It is THEIR issue that they are having two kids at one time.....I'm sure they are preparing themselves as they will need two if everything so twice the daycare costs are probably expected as well.
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Old 07-08-2013, 02:12 PM
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Okay so perhaps I should do the two weeks deposit along with a fee for each week/month until that point? Thank you ladies, I know it sounds sheepish for me to ask... I have twins and always had to utilize a center as actually securing a spot for them both was a task I was unable to accomplish. I really wish I had someone that was able to provide in home care as I personally am partial to it... now that I am able to provide care in such a manner I am thrilled.... To be honest, I don't forsee her finding another provider with the capacity either. Twins are often times intimidating... I get that... they don't scare me lol
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Old 07-08-2013, 02:19 PM
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I don't let other people's financial details become my issue. I personally don't offer sibling discounts because I personally feel that it isn't fair to my clients of single children that don't get a discount and get the same quality of child care so I handle holding spots the same for multiples as I would singletons.

If I had a family that wanted to enroll and have me hold a spot for them then I would require them to sign a contract with a start-date, charge them a holding fee per week/month, a two week deposit and first week of child care for EACH CHILD before I would hold a spot for them. Also, I personally won't hold a spot for longer than two months ... my typical length of time to hold a spot is more like 4 weeks, sometimes 6 weeks but never more than 2 months. I would have the person call me back in November to see if I had availability.

For me and what I charge this is how it would break down:

Holding Fee (November 1st-January 1st) ... $225
Two-week deposit (for full-time) .............. $330
First week of child care .......................... $165
Total ...................................................$ 720 PER CHILD

I know that it seems like a lot but I have no problem having them move on elsewhere or waiting until later (like 2-3 weeks before they actually need to start) to see if I still had room and to sign a contract (I don't charge a holding fee if they start within 2 weeks). Even then they'd still be required to pay $495 PER CHILD at the time they signed their contract (for FT) and they'd be charged $330 per week for both children after that. I don't give discounts or breaks just because some families have more children than others, but that's just what works for me.
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Old 07-08-2013, 06:37 PM
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I agree with everyone else in that you should charge your normal fees, regardless of whether they have one child or two. (deposits, holding fees, whatever.) The only thing you could try to maybe "soften the blow" is to tell them you won't start charging them until you have someone else interested in the spot but you also won't hold the spot unless they pay for it. Just tell them that they can choose to hold off on paying a holding fee but that you will continue to actively advertise for those spots. If someone else wants the spot then the twins' parents have first choice to reserve that spot by paying the holding fee from that point on along with any other fees you may charge.

You could also do the same thing for the second spot as well if you wanted to make it a little easier on them.

It may be a lot of money up front for them but I'm sure if they wait they will have a really hard time finding care for BOTH of their infants at the same daycare once they are born. They probably know this which is why they are searching for care so early. I think this gives you a little more of an advantage in charging what you want.
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Old 07-08-2013, 08:29 PM
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I don't do a holding fee, but I did adopt a method of "holding" a spot that I saw on this forum. I would have them pay their deposit and that holds the spot as ling as no one else is ready to enroll. As soon as you have someone else ready to enroll, the twins can either start paying full price for the spots or they can choose to give up their spots and the other people can enroll. If you already have a lot of interest in your spots, ignore everything I just said

ETA
Also if they choose to give up their spots, I give them their deposit back. But that's up to you
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