Term-time only contracts

[chiara]

Hi All,
i was wondering what the common practice is with regards to fees for term time only contracts.
I have two families that I look after at the minute, and they are both term time only. When i first started I said I was not going to charge them for term holidays, however, now I have been told that a lot of childminders charge 1/2 price for the term holidays to cover spaces and costs.
I have realised that actually I can not afford to not charge anything over term holidays as there are so many!!
How does everyone else work their fees for term time only contracts? And also what do you do over the summer when the term hoidays are 8 or more weeks?? I can't afford to go all that time without earning anything...
Thanks to everyone who is willing to help :) x

[adedwards68]

I used to have term time mindee and didn't charge for holidays as it suited me not to work but I think if I was going to take another one on I would charge. I feel guilty doing it but I'd be very unlikely to fill that space during the hols. I may use a different fee for term time mindees, so perhaps it covers for lost earnings during breaks. A tutor of mine only charged for term time but totalled up the amount they paid per year and divided it by 52 so that she has the same income coming in each week/month
It's a bit more difficult when contracts are in place already If all cm in your area charge something during the hols then perhaps you should mention to parents about it
Sorry wasn't much help

[zippy]

I charge a higher hourly rate for term time only contracts, that way they feel they are still getting a bit of a deal, and I don't have to worry that I'm going to get notice in time for summer holidays and then be begging for space back in sept

[The Juggler]

i don't charge anything and don't charge a higher hourly rate (though I wish I'd thought of doing this :rolleyes:)

I spread the 39 weeks of care over 11 months of equal payments and have to put some by for the summer holiday (6 weeks).

I also give an option to these parents to pay over 12 months so a lower monthly rate but they sign an agreement to say if notice is given for any reason and child leaves before 31st August (the last payment) that underpayment will be calculcated and this sum will be due along with final months fees. :thumbsup:

[migimoo]

I charge a higher hourly rate for term time only contracts, that way they feel they are still getting a bit of a deal, and I don't have to worry that I'm going to get notice in time for summer holidays and then be begging for space back in sept

Sorry to jump your post but I was wondering if zippy could tell me how much more she charges per hour for term time only as i'm in the same boat as you come Sept?

[phoenix2010]

Sorry to jump your post but I was wondering if zippy could tell me how much more she charges per hour for term time only as i'm in the same boat as you come Sept?

Because 39 school weeks is three quarters of 52 actual weeks in a year

If you take your hourly rate , divide by 3 and times by 4 you will come up with a rate which works out the same

eg my rate is £3.50 / 3 x 4 = £4.66 would give me a term time only rate which means I lose nothing

realistically though Id probably go for something in the middle ie £4.00

[zippy]

I take hourly rate times by 39, I then take hourly rate divide by half (as I offer half fees already by in hols to any parent if they don't want care more time for mine) and times by 13 add together and divide by 39 to get an hourly figure £3.60 and hour worked out as £4.20 an hour for term time only. Hope that helps x

[LauraS]

I'd do similar. I would work out term time hourly rate times 39, plus 9 weeks (4 are my holidays, always in school hols at no charge so I take those off) holiday rate, for which I would charge 70% to reflect the fact that there are no expenses for that child at that time, then add together and divide by 39 to give term time only fee.

Happy to do it tthis way as I can then fill the holiday space and not have to keep it open.

Makes 3.50 an hour 4.00ish term time only

[Rough & Tumble]

I have both term time and all year contracts - families that only need term time contracts are charged 50% during all school holidays as a retainer payment, this doesn't mean the children can come 50% of the time though.