Retainer Fee

[hayeschildcare]

Hi

Just wondering if anyone can help. I have just had an enquiry from a parent wanting an all-day place 3 days a week for her one year old daughter. She is coming to see me tomorrow but will not need the place until February. I understand I have to mention a retainer to hold the place for her and I have read that it is usually 50%?! I am new to childminding and to me this seems a lot or do I just need to put my business head on!!

I'd appreciate your thoughts.

Thank you.

[smurfette]

February is a long time away. If you want to see the parent go ahead but even on a retainer you are losing money and they are paying as you say a lot . The one and only time I took a retainer things changed in the meantime and I felt I could no longer provide what parent wanted, and had to return it. Naturally mum was very upset because she thought she was sorted for Childcare and had been so anxious about leaving Lo.

I usually don't even see people until I think I will have the space and even then only a couple of months in advance ,
Really hate the stress of cleaning the house for something that might not happen! But I am lucky we are busy around here so I guess It depends on when you will have the space and whether there is any possibility that you might fill it in the meantime . Just my thoughts , good luck !

[moggy]

You say you are new to childminding so I assume you have the space available now.

Feb is a long way off.
You might get a new enquiry to fill the space immediately tomorrow. You might not. That is the business we are in!

I would say to parent if they want to secure the space then they need to pay a 50% retainer- yes, that is a lot but you are giving up a lot too.

If they will not pay a retainer or you want to keep your options open, then see them, check you really want to work with them (remember you are interviewing them as much as they are interviewing you) and suggest you leave it open for a few more months. Then in December or so, get back in touch and see if they are then ready to secure the place with a retainer or by then you may be happy to just take a deposit. It maybe that by then you have filled the space already with another child so your problem is solved, or the family may have changed their own plans anyway.