Can I increase my fees

[LadyStitt]

Hi All,

I was wondering if i can increase my fee's or do i have to wait untill the next contract review?

Basically, Its just the hourly rate for before and after schoolers that i want to increase. My full timers will be at the same rate.

I do not have a policy which states when i will review my fees, but my contracts are reviewed every 6 months.

So, if I give my parents 6 weeks notice of an increase can I do it at any time?

[Pipsqueak]

you can increase your fees any time you like. do you state about giving parents xx amount of notice for changes?

[ziggy]

I increased my fees for school children this month, it was just coincidence that contracts were up for review as well. Told parents via newsletter 3 months before and although one wasnt happy they have all accepted it now

Good luck

[susi513]

If you change your fees, you need to negotiate a new contract and give the minimum notice required by your existing contract to end it.

So if your contract requires 6 weeks notice, you should give at least 6 weeks notice of any changes in fees. Similarly, if the parents want to negotiate a change in hours, they would need to give you at least 6 weeks (or whatever notice your contract says).

If both parties are in agreement, you don't have to wait 6 weeks before agreeing a new contract, eg if they wanted to double their hours to start a new job next week, you might be happy for the extra income to start as early as possible!

Its best to give as much notice as possible for fee changes, and good practice not to increase more than once in a year if possible. Some childminders make a point of increasing their fees every year at the same time eg, April or September.