Fees up?

[BlondeMoment]

Hi there.
I almost put my fees up last year but then decided not to after checking in with what some other locals were charging. I currently charge £4.50 per hour all in. So that covers all meals and all outings. Its been like that a few years now and I do feel its time to go 'up' But £5 per hour seems a bit much. Am I right or am I selling yself short? I could go £4.75 but would rather stick with a round figure. What do u all think?

[Maza]

Could you introduce it for new parents? I never felt comfortable doing it for existing parents - I'm a wuss when it comes to things like that.

[loocyloo]

can you work it out as a percentage and say you are increasing fees by ?% from a set date? I usually give 3 months notice of a fee increase.

I also say in my policies that I increase fees every year ... it seems to be every 2 yrs or more! ( and then I say, in my letter of intent, that fees have not been increased for 2 years )


I implement a fee increase for all families, as some of mine have now been with me since I moved 5 years ago and costs HAVE gone up.

x

[kellib]

Could you introduce it for new parents? I never felt comfortable doing it for existing parents - I'm a wuss when it comes to things like that.

That's exactly what I've done and for the same reason!

I had most of my lot leaving for school this summer so any new parents have been quoted my new price.

[sarah707]

We tell parents we are putting our fees up each year in August for a September change - we find if they know in advance they are fine about it...

We only go up by 10p per child per hour but it makes a difference when we have 9 children on the books :D

[alex__17]

I have put my fees up for new families, when I started just over 2 years ago the going rate around here was £4.75-5.50 per hour, I picked £5 as I was new and didn't want to price myself too high, now prices are £5.50-7 according to a recent meeting I was at and searching on childcare.co.uk so I'm suddenly very cheap!!

New parents get charged £6 per hour, only got one on the new rate as existing mindees increased days and siblings started to fill gaps I had, but I'm losing a couple to school and new enquiries have been told the new higher rate and both want to come and visit.

I felt better increasing for new parents as I've only been going just over 2 years, saying that I may increase fees in the new year/next financial year as parents are getting a very cheap deal with me compared to other providers in the area!

[Dragonfly]

Gosh, fees are a lot higher where you all live. They are around £3.50-£4.00 here

[mumofone]

Hi there. I almost put my fees up last year but then decided not to after checking in with what some other locals were charging. I currently charge £4.50 per hour all in. So that covers all meals and all outings. Its been like that a few years now and I do feel its time to go 'up' But £5 per hour seems a bit much. Am I right or am I selling yself short? I could go £4.75 but would rather stick with a round figure. What do u all think?

What area are you in BM? What's the going rate?

[hectors house]

I put my rate up about 18 months ago by 20p an hour as hadn't increased it for several years, I gave parents 4 months notice that it would go up in Sept - I then got my Outstanding grade in the November and decided that I would put rate up by another 20p to new customers and charge full fee for holidays (instead of 4 weeks at half fee), my 2 last mindees on £4 an hour leave in Sept for school and they still get their 4 weeks at half fee, but everyone else is £4.20 all year round apart from my holidays and the work still keeps coming in - I think some minders in my town are charging £4.50 an hour but our funding rate is £4.27 so I am happy to keep my rate at just below it so I don't feel like I'm losing any money offering funding.

I may put my meal price up though as it's been £1.50 for about 8 years and speaking to other childminders they seem to charge different amounts for different age groups - I dished up a roast dinner for a 4 year old yesterday and it was nearly as much as I would eat, so a bargain at £1.50. I generally include outings and toddler groups in my fees but at parents request I do have a Summer trip donation box that I put up about now and parents/grandparents are very generous in popping money in which means we can do more expensive trips.

[samb]

I started 6 years ago on the going rate for my area.(£6) After 4 years I raised by 20p an hour and this sept I'm going up another 30p. My fees are inclusive of most things whereas most round here charge extra for food. I have an outstanding ofsted grade and almost finished my degree and had 8 years of full time childcare experience before that too, but I don't want to completely outprice myself. Funding for 2s works out 50p less than new rate and 3-4s works out £2.35 less an hour. I usually tell families in April when I do my tax return what my fee increase will be if any and it starts beginning of September as I do contract reviews in July and so if anyone doesn't want to continue on any new terms and conditions and fees they can give me 4 weeks notice and I can start with new families in sept. However no one has even said anything about the increase this time.