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When you change your contract and raise your rates, do you raise them for current families or one that are new to sign on and why? This is my first rate change since starting 3 years ago and I've been going back and forth. Your input is appreciated!
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When I raised my rate last year I called it my 2015 rate increase so I charged my new clients my increased rate and when my current clients hit their anniversary date I increased their rates also (they all enrolled around the same time). Next time I increase my rate I will just do it at the beginning of the year for everyone at the same time so it is easier to keep up with.
You get to decide if you want to just do it for your new families or if you want to do it for current and new at the same time. Do whatever works best for you. -
I raised my rates just recently but only for new families coming in. I have a rate that was $$ for not potty trained and $ for potty trained and it wasn't working for the families I enrolled with that rate, they'd be potty trained then not but the families enrolled with the idea that they'd get a discount after their child was potty trained so I kept that rate for current families and make a higher and consistent rate for new incoming families.Comment
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I have just raised rates on incoming families so far. So I have some people who are paying less than others. I used to charge the same for infants, and I decided that since I don't like caring for infants I will charge more to make it worth my while. So, I will have one infant who's been with me for 14m paying quite a bit less than an incoming newborn who is starting soon. I told the older family I raised my rates for new families though, and they were grateful I kept theirs the same low price, so hopefully that keeps them from bringing up price to the other family
Maybe in a couple years I will do like a $1 a week raises/cost of living raises for everyone when I update handbooks in January.
I would also give a months notice. I budget a month out for my family, so I would want to give others as much time to adjust their budget as I would need.Comment
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I raise my rates at the beginning of the year for incoming clients only.Comment
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I only recently discovered how far behind I am with local rates so I sent home notice to dcps that I'm raising weekly rates 5.00 a week in January and another 5 in June. That still leaves me another 10 under most dcs' rates so I'll probably do it again in another year. If/when I get new clients I'll go right to the higher rates immediately.Comment
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I've done both - raised new clients and raised current clients with smaller increases.
I added a clause to my handbook that states "tuition will be re-evaluated each fall and may increase, decrease or remain the same based on current market value and needs. This lets parents know ahead of time that tuition can increase.
When I do an increase I do it with new parent HB and contracts (mine sign all new paperwork each fall). I request the signed and completed paperwork returned within 1 week but the rate increase does not go into effect for 1 month.Comment
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It depends, if I raise current clients I do it around New Years. It is never a huge raise so they never have complained. New clients always start at new rate. I give at least a months written notice.
DebComment
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In my contract I say fees are evaluated each November. I don't raise rates every year, but it is there for when I need to. Fee changes are across the board for everyone.Comment
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I've raised my rates once in 4.5 years. I did it for ALMOST all clients. Some I grandfathered in at the past rate because they were long term clients (more than one child).
I raised it by $5/week for one age group (part-time) and $10/week for the youngest age group (part-time). However, those enrolled full time had a $15/week increase since I switched to having no discount given for attending the entire week. It's the part-time rate doubled.Comment
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