Should I Raise His Rates?

[small_steps]

I have a 4 year old. I've had him about a year and a half. He as seniority over everyone here now because he started not long after I first opened. At that time I was charging $100 per week which is average for home daycares in my area.
A few months later I raised my rates to $115 for all new customers. Everyone else here now is at $115. I have not raised his rates at all but I'm considering it. He will go to school this Fall so I only have him for a few more months. I go above and beyond for this child and he is usually the first here and last to leave so I'm seriously considering raising him to what the others are. I've recently raised my rates again to incoming customers just because I'm now competing with the centers in my area and even at $125 I'm about 10 to 15 dollars less than them per week. I think I offer just as much as the centers do and the kids probably receive more one on one here as well.
Any advice on if I should raise the rates for him? The mom will probably complain but I don't think she will leave. I even keep him late somedays for her which is a huge inconvenience but I'm just trying to be nice. When I do keep him after hours I charge her $10 per hour. On the other hand, he's only going to be here until Fall so I'm not sure if I should even bother. Of course that's still several months away so I'm kind of back and forth. He's a pretty good kid for the most part...a little mouthy every once in a while but other than that I have no complaints.
What would you do?

[Cat Herder]

I've had him about a year and a half.

He as seniority over everyone here

I only have him for a few more months.

He's a pretty good kid for the most part

I have no complaints.

What would you do?

I would not raise his rates. Professional courtesy.

[wdmmom]

Given that he's leaving in 7 months for school, I wouldn't raise rates either.

[Heidi]

Niether would I, especially if she pays you $10 per hour for "overtime".

[melissa ann]

I agree. I wouldn't raise them either.

[mismatchedsocks]

My kids are locked in at whatever rate they sign up with. So I personally wouldnt raise his rate.

[littlemissmuffet]

Every January I decide if I am raising my rates, how much - and what I will charge new clients (which will always be more than current clients, as a courtesy to my original peeps). However, I take many factors into consideration when I decide how much or even if I will raise rates for each family. In this particular case I wouldn't raise them. You said he's a good kid, and he's leaving within the year. You are also compensated for any extra hours you ALLOW him to be there. I don't see any reason to raise this family's rates.

[small_steps]

Thanks everyone! I've just been so back and forth on it because sometimes I just feel like my time and the care I offer is worth more. And I guess since he is here from open until close everyday it just sometimes makes me wish I raised it. But I probably shouldn't. It's only a few more months and then he will be going to kindergarten. I think I can make it until then.

[Cat Herder]

Thanks everyone! I've just been so back and forth on it because sometimes I just feel like my time and the care I offer is worth more. And I guess since he is here from open until close everyday it just sometimes makes me wish I raised it. But I probably shouldn't. It's only a few more months and then he will be going to kindergarten. I think I can make it until then.

I FULLY understand that.

You ARE worth so much more.

Think of it as advertising dollars well spent. Word of mouth is the absolute BEST way to get new clients. happyface

[bgmeyers]

I raise my rates every year or I give myself more paid time off. I'm where I want to be in the paid time off area, so my clients know that the rate is going up every September from this point.

[small_steps]

bgmeyers and the others of you that raise your rates yearly...is there a certain percentage you raise your rates every year or a certain amount? $5 per week, etc?

[MyAngels]

My kids are locked in at whatever rate they sign up with. So I personally wouldnt raise his rate.

Just out of curiosity - do you take new sibs of current kids, and if you do, does the new baby get the grandfathered rate or your current rate?

[daycare]

I would not raise his rates. Professional courtesy.

Ditto...........

I raise my rates on the new clients coming in. Only one time in 8 years did I do an increase in rates across the board and it was only $10.00 per month.

[mismatchedsocks]

Just out of curiosity - do you take new sibs of current kids, and if you do, does the new baby get the grandfathered rate or your current rate?

I do take new baby siblings. The older child is grandfathered in, the baby is at the new rate.

[CheekyChick]

I wouldn't raise his rates.