Holding fee

[KIDZRMYBIZ]

Know it's been talked about and did a search, but didn't turn up a solid answer for me.

I have 2 spots to fill immediately, and I have twin moms interested in them. One is a 18mo start in Dec, 4 months away. The other is newborn start in late Jan, 6 months away.

Plus, they are both a referral from a current dcm, and I give a pretty hot deal for referrals (1 free week when a new dcf signs on and another when they have been there 6 months), so this dcm would get 4 free weeks from me.

All together, that's like $5000 of potentially lost income!!!

I want to charge a holding fee of $50/week for each kid, but am afraid to even suggest it and scare them away. I have no other leads right now, but there will be long before Dec and Jan. It is difficult to find infant daycare, but not impossible. I did suggest this to one other family I interviewed for an infant spot and they thought I was crazy. I did not hear back from them.

Has anyone else charged a holding fee and actually collected it? How much was it, and what was the new client's reaction?

[rosieteddy]

In MA. I charge a holding fee of one weeks tuition.Non refundable and not put towards any weeks tuition. If they start right away -within 2 weeks I o apply it to the months tuition.

[CraftyMom]

Know it's been talked about and did a search, but didn't turn up a solid answer for me.

I have 2 spots to fill immediately, and I have twin moms interested in them. One is a 18mo start in Dec, 4 months away. The other is newborn start in late Jan, 6 months away.

Plus, they are both a referral from a current dcm, and I give a pretty hot deal for referrals (1 free week when a new dcf signs on and another when they have been there 6 months), so this dcm would get 4 free weeks from me.

All together, that's like $5000 of potentially lost income!!!

I want to charge a holding fee of $50/week for each kid, but am afraid to even suggest it and scare them away. I have no other leads right now, but there will be long before Dec and Jan. It is difficult to find infant daycare, but not impossible. I did suggest this to one other family I interviewed for an infant spot and they thought I was crazy. I did not hear back from them.

Has anyone else charged a holding fee and actually collected it? How much was it, and what was the new client's reaction?

That sounds like way too long to hold TWO spots for free! I think the parents would be silly to even assume you would do that!

[Unregistered]

I had an infant spot coming up this fall. Family called when they were barely pg and asked to interview. They ended up taking the spot, but not till October. They had already read my contract and policies, and OFFERED to pay the holding fee.
I accepted the holding fee for September, when my opening comes up, and baby will begin in October. All told, I think they paid me close to $800 between two weeks, enrollment fee, and holding fee.
If they cancel for any reason, nothing will be refunded. I don't think they will though

[Unregistered]

I am the PP. So this family first interviewed in December last year. And paid deposit and holding fee in February for the spot in October.

[spinnymarie]

We charge a holding fee for spots that are currently open. We can't afford to lose the income, so we charge full price. I look at it similarly to illness absences - you pay for the spot, not the attendance. I am currently collecting holding fees on two spots.
I did have several parents balk at paying for something they weren't using, however, once they look around they will find that if you want it, you either pay for it for forfeit it. And around here I could fill an infant spot within a minute.

[KIDZRMYBIZ]

Thank you all! I have decided to go ahead and charge a holding fee of half the normal rate. I guess we shall see how badly these gals want their kiddos at my daycare together.

Now, I need help with wording to tag onto the end of their contract that states that they are making non-refundable holding fee payments. I keep coming up with badly garbled and over-wordy blurbs. Help, please!

[SignMeUp]

How is this?
Provider agrees to hold a space in the child care from _________ until ___________.

_______________________’s first day of care will be _________________.

Parent will pay 50% of the regular weekly fee to hold the space. The holding fee for your child(ren) is $________
per week, for a total of $_________, due upon signing of this contract.

The holding fee is not applied to future care.

The holding fee is non-refundable, even if parent decides not to begin care at the end of the holding period.

[KIDZRMYBIZ]

Update

Bwahahaha! I sent the e-mails to both moms about the holding fee, and the new baby mom IMMEDIATELY sent back a "no, sorry." There ya have it. Oh, well!

[KIDZRMYBIZ]

How is this?
Provider agrees to hold a space in the child care from _________ until ___________.

_______________________’s first day of care will be _________________.

Parent will pay 50% of the regular weekly fee to hold the space. The holding fee for your child(ren) is $________
per week, for a total of $_________, due upon signing of this contract.

The holding fee is not applied to future care.

The holding fee is non-refundable, even if parent decides not to begin care at the end of the holding period.

This is near perfect for me. Thanks!!! I am pasting it in my contract right now. I am ONLY going to courtesy hold for 2 weeks from now on. So done with favors!

[SignMeUp]

Sorry to hear that. Maybe the other one will take you up on it? And I have had prospective families balk at one thing or another, then come back to me after they see what else is out there