Well, the new year is almost here. Are you thinking this might be a great time to increase childcare tuition? Well, hold your horses. Before you do, do you know the WHEN, WHY and the HOW MUCH? Here are some important guidelines for implementing a successful child care rate increase. I’ve even included some letter Templates too!
Do you charge enough for tuition at your child care? Have you struggled with raising your rates? Do you think you will lose clients due to a rate increase? Those are questions many providers ask themselves and struggle with. Today let’s talk about just how to raise childcare rates.
The simple fact is just about every year we have greater expenses than we had the year before. Prices go up, items need to be replaced and more supplies might be required. Maybe you have hired an assistant. More expenses mean a need to increase the income that the business brings in.
Not that many years ago, every week I could expect to have tuition payments arrive late and later. It actually got so bad that I was making trips to the bank 3-4 (or more) times every week. I was so tired of it! Some parents would say they “forgot” here and there. Others would be habitually late every week. I was in my push over phase and let things go for too long. Finally, I was given a road map for how to get tuition payments on time – every week. So just in case you can relate, today I want to share this strategy with you. Buckle up, and get ready for things to take an 180-degree turn. Here are 10 things you can do this week to get paid on time next week and every week. [Read more…]