Raising Rates for Families Holding a Spot

[MCC]

I did some "rate fishing" on Thursday and realized I can probably raise my rates about $25-$40 a week. There is a huge shortage for care in my area right now, and out of the 13 providers I called:

I am one of two who are offering a full preschool curriculum.
The only one offering a full organic menu
One of three with a private sleep room

The lowest rate I was quoted was $190 (this lady had no current children enrolled, was not licensed, and even said "I just make sure they don't get hurt")
The highest was $300 (very comparable to my setup minus the organic food)
I charge $250.

In the past 3 months, I have gotten 3 clients from other homeDC in the area b/c they were looking for better food, and more education based care. I called one of the providers that I got a client from and she is charging $250.

I have two families holding a spot for unborns at $250, I want to raise my rates to $275, but I'm not sure what to do about these hold families?

Should I just keep their rate the same, and raise it in January, or include them in the raise?

[preschoolteacher]

Are they really paying $250/week to hold a spot? How long do they plan to do that? I'm impressed!

I would do it in January.

[MCC]

Are they really paying $250/week to hold a spot? How long do they plan to do that? I'm impressed!

I would do it in January.

Yes- they are! I think it's crazy too. The baby's cousin is also enrolled (also paying to hold the spot until they are born?!) I think they really wanted the babies in the same care, and there was no way I was going to hold two spots for 3 months, so they are paying full rate!

[preschoolteacher]

That's great for you! I wouldn't raise in this case, but I would tell them about your rates going up at the beginning of the year.

[Unregistered]

Since they are paying a rate that was recently already contracted AND you don't have any of their children actually in care yet, I would not raise anything for one year from start date. You are getting a profit just for space holding, which is really nice since many people would not be willing/able to do that for long, especially when in regard to taking a leave from work where they may not be getting any or less than the full amount of their pay.

[Familycare71]

Since they are paying a rate that was recently already contracted AND you don't have any of their children actually in care yet, I would not raise anything for one year from start date. You are getting a profit just for space holding, which is really nice since many people would not be willing/able to do that for long, especially when in regard to taking a leave from work where they may not be getting any or less than the full amount of their pay.