Where childcare success is right at home!
To a provider, sometimes it can seem almost taboo and scary to consider raising their rates. In this post, we will set that fear aside and see when a raise childcare rates is almost mandatory.
Here I get into why after years of frustration and reluctance I finally realized that instead of selling myself and my business short, I needed to raise childcare rates.
Ever notice how businesses charge extra for things? You know. Like if you need a package to be delivered sooner than the standard delivery. There is usually an extra fee for that.
Or if you exceed your limit. Like for banking or a credit card. Or even an extra channel on your cable service. You usually can expect to pay more.
Well, the same is true in our childcare businesses. More is more.
So today I’m addressing when it might be appropriate, no maybe even suggested that you charge extra childcare fees.
Fair warning, since I know that the notion of charging childcare fees can be such an unsure thing, this post is a deep dive. So grab a tea or latte and let’s get into it.
A problem that many providers may have at one point or another with their business is – What should you do if your childcare competition is less than you are?
If you have dealt with this issue I am sure you must have thought “OH NO! They are probably going to steal all of my clients.”
I’m I, right?
Or maybe you started thinking the only thing that you could possibly do would be to slash your rates.
Well, hold on there!
Before you do that Walmart thing and flip your prices down, let’s take a step back and really take a look at how to handle this issue without devaluing your services or business.
Here are 5 areas to look at to handle what to do when your childcare competition is less than your rates.
Today I thought I would talk a little bit about why you need a Pricing Strategy for your Family Child Care (FCC). I say strategy, but really its more of a pricing policy for getting paid what you are worth. Spoiler Alert: it’s actually not going to lead to a rate of pay that is anywhere near what you are worth. What it will do is get you into the habit of charging a FAIR rate of pay and hopefully give you a sound base to build your business on. Here are 10 Reasons Childcare Providers Need a Pricing Strategy.
[Read more…] about PRICING STRATEGY: Pt. 1 Why Providers Need A Pricing Strategy
So here is another tricky question. Today I am asking “Do You Know How Much You Make?” Now I know that most providers are aware of what their childcare rates are. And you probably know what you bring in on a weekly or monthly basis. But do you know what that equates to on an hourly basis? Well, since I believe knowledge is power I think it might be a good idea to investigate … [Read more…] about How Much Does a Childcare Provider Make?
