How Often, When, How Much Do You Ever Raise Your Rates?

[MommyMuffin]

I will have my first year ann. of opening my daycare in November(still a ways a way)!

I have priced myself lower than I think I deserve. I would like to raise my rates by 3%. One of my dcb parents just signed new contracts for their soon to be born son, he will start in november. I didnt think it would be right to give them a new rate when their 2nd child starts.

So my question is..how often, when and how much do you raise your rates?

[SimpleMom]

I review my rates every year. rates increase by $1.00/day--sometimes only e/o yr.

[momma2girls]

I have never raised my rates in 5 yrs. but I am raising my sibling rates in Jan. I am no longer giving a huge discount. I am giving a $10.00 a week disc. and that is it.

[cheerfuldom]

I have never given any discounts. After two years of doing daycare, I gave myself paid vacation and after another year, a smallish increase (but I also provide snacks now which is easier for me anyway). My "daycare year" end is coming up in August but I am not going to change anything for my current clients for now because I love them to much to raise rates and they also all stuck with me through a move and a maternity leave this year. I am increasing my rates for incoming clients though ($3 a day increase).