Payrise

[newbie]

How often do u put up your fees? I did it for the first time in 4 years last year by 15p an hour but my hubby thinks I should put them up every year.

[Simona]

How often do u put up your fees? I did it for the first time in 4 years last year by 15p an hour but my hubby thinks I should put them up every year.

As a small business you should keep it 'sustainable' and therefore review your fees regularly
15 p is not very much...unless you charge £1.50 ph then it would be a 10% increase?!!!

In your Terms and Conditions it would be a good idea to put 'fees are reviewed once a year on...'
That will give you the option of reviewing, raising the gees or leaving them as they are
Parents will have been warned to this and cannot complain....in life most things rise in cost and often we get no warning

Your husband is wise ...follow his advice

Does you contract not cover the matter of fee increase?...most off the shelf ones do not address this I'm afraid...if not do add a clause to yours.....I

[Koala]

After years of keeping my prices the same and offering all sorts of odd picky hours which never paid me a living wage I had to address the value of my provision and myself.So I decided to put my prices up every April by £1 per day so far. I think I will do the same in 2015. I only do a full day rates now. And it works great, I feel valued and parents know where they stand and up to now have excepted it without a query.

[yummyripples]

I explain to new parents that my price goes up by £2 a day on sept 1st every year.
I also have it in my contract.
My friend is an accountant and she has just put her fees up by £1.50 AN HOUR!!!!!!

[funemnx]

I usually increase my fees every year in April - mostly by a very small amount 1 or 2%. The parents know to expect it so it's not a shock and as most families are part time, it usually isn't a big hike in the monthly bill. This prevents me having to make large increases every 5 years which makes it difficult for the parents.

[moggy]

Same topic here at the moment:
http://www.childmindinghelp.co.uk/forum/fees-charges/133706-fee-increase-not.html

[JCrakers]

Started on £3.00 per hour in 2007 and in 2009 put fees up to £3.50 and they've been the same ever since