Changing Payment Policies

[phoenix]

Hi,
I have been in business for a year and a half. I think I am in need of changing my payment policies. Currently, I charge by the day, $20. I would like to go to a flat weekly rate. Can anyone tell me if they have had to change their policies before and what is the best way to about it? I love all my families and don't want to lose anyone over this, but I need a more stable income. I have had some parents lately taking some days off in the middle of the week to keep nd keeping a cbild home, or sending kids to their grandparents for the day and then I dont get paid Just wondering how much notice to give them and if there is anything I can say that might " soften" the blow.

Thanks!

[littlemissmuffet]

When I up prices or change payment policies I give one full calandar months notice in writing. I have never lost a parent due to a change in policies and quite honestly, I change/add policies on a very regular basis as different issues come up or I get ideas from the other providers here

As hard as it is to swallow that there is potential to lose a client over a policy change (especially when money is involved), it's best to lose the parents who don't agree with your business practices (and being paid by enrollment NOT attendance is pretty much standard in this industry) and take on new families who agree and stand by your policies from the get-go!

You might find though that all your parents will happily agree to the change and carry on as usual That's usually how it works out for me!

Best of luck.

[wahmof3]

I went from a daily rate to a pay for space rate in January. I gave DCP a copy of my new contract the 1st of December & they had 2 weeks to get it back to me (because they are all teachers and Christmas break was approaching).

I WAS NERVOUS!!!

Not a single family left but I was prepared for the worst.

IT WAS THE BEST CHANGE I EVER MADE!!!!!!

[phoenix]

thank you!

Thanks for your replies I was wondering about how much notice to give and I like the idea of letting them turn the policy change back in. Thanks again!

[EntropyControlSpecialist]

Definitely do it. You deserve it. $20 is cheap as is $100 a week.