Tweet
Hi guys. Ok so I have an interview coming up for an infant who will be 8 was when he starts. Which means I will have to hold the spot until the end of July. Do you guys charge the full rate to hold the spot or half or any at all?? If u do, do u put that money towards when the start care? Is it non refundable? Just looking for ideas since I only want to fill two spots so I hate to hold a spot all that time and then have the family change their mind :/. TIA!!
-
-
8 weeks. Sorry. I'm on my phone! -
I don't hold spots because I would be out of that income and if I would charge a fee I would have to charge the full tuition each week, I doubt that a family would pay the full amount to hold a spot. I just tell them that I may or may not have an opening then and I could put them on a waiting list. I have two infants on a waiting list to start in July and October and I just told the parents that I would let them know when the time came closer and would keep in contact with them. That way if I have an opening when they want to start then great, it's filled or if they find other care by then, then by keeping in contact closer to the date I would know then and could find another family if I had to fill an opening.Comment
-
This is what I think about holding fees: How much you charge depends on your business model and how difficult or easy you think it will be to fill those spots. Some might say that's too far out and too long to hold a spot so have the parent check back when they are closer to needing care. But if you have trouble filling spots that might not be an option for you.
Should you charge a holding fee? In general, yes if you are going to hold a spot for someone, in my opinion. You should be compensated for promising to keep your spot open. Further, I think you should be compensated for the amount of time you're holding a spot open. You're going to be turning away other potential business in the meantime. What should the fee be? I think the fee should be whatever you are potentially losing the hold the spot open, so your weekly rate. I think you should definitely charge at least HALF of that per week. I wouldn't apply the holding fee to the start of care because it's a fee merely to hold the spot. It's not an advance payment of fees. If the parent changes their mind, they've already compensated you for agreeing to hold the spot for their child so they are not owed anything UNLESS for some reason you decide you don't want to keep the child. I would have a clause regarding refunds and would only refund in cases where you don't hold your end of the deal and the spot isn't available.Comment
-
Yeah this is an issue with holding fees. Do you give parents the option of holding a spot and if they can't or won't they can go on a waiting list? When we were referred to our provider we immediately fell in love with her and everything she was doing. After looking at a couple of other daycares and seeing the difference in quality, we knew for sure where we wanted our daughter so we had no problem paying her a holding fee. Plus she doesn't often have spots open so we happened to catch her at the right time.Comment
-
I haven't had that situation come up. I haven't given anyone an option because right now I am full. I have an infant (I can only have 2 under 18 mo. and infant care is in high demand here) who may leave at the end of June, but I may not know for sure until the beginning of June (2 week notice) so I tell potential families this and if they still want to come and at least look at my program/space and interview then I do an interview and then if they want, I tell them that I can put them on a waiting list and also how many are ahead of them. I just had an interview last Thursday for the October baby and they liked it so much that they are willing to be put on the list. Plus the family that wants to start in June will probably find other care by the time I will know so I have another back up.
Now if the baby I have now does leave and if the one that wants to start in June finds other care, I may just hold a spot for that baby-I loved the family!
Sorry, probably too much info.!Comment
-
I charge $15/day for the first month - anything after that is the full price ($30/day). Due in cash, immediately - or I continue interviewing. All holding fees are non-refundable and do not go towards any future childcare costs... holding fees are personal spending cash for me
Comment
-
Oh so if you have a spot open up you could let the families know and give the option of holding the space or staying on the wait list. Whoever pays first is guaranteed the spot. Even if the parents don't agree and just ask to be wait listed you gave them that option and you won't know if parents are willing to do it unless you ask. You didn't ask but I would just present it as two options: you can hold the spot and the fee for that is x dollars or I can add you to my wait list and will contact you if space opens. Short and sweet.I haven't had that situation come up. I haven't given anyone an option because right now I am full. I have an infant (I can only have 2 under 18 mo. and infant care is in high demand here) who may leave at the end of June, but I may not know for sure until the beginning of June (2 week notice) so I tell potential families this and if they still want to come and at least look at my program/space and interview then I do an interview and then if they want, I tell them that I can put them on a waiting list and also how many are ahead of them. I just had an interview last Thursday for the October baby and they liked it so much that they are willing to be put on the list. Plus the family that wants to start in June will probably find other care by the time I will know so I have another back up.
Now if the baby I have now does leave and if the one that wants to start in June finds other care, I may just hold a spot for that baby-I loved the family!
Sorry, probably too much info.!Comment
Comment